According to the official announcement by TONCOIN, OKX will facilitate the migration of TONCOIN tokens to TON tokens at a 1:1 ratio. Below are the key details:
1. Spot Trading
To minimize market disruption during the migration:
- TONCOIN spot trading will be suspended at 9:00 AM UTC on April 20, 2022. All pending market orders will be canceled.
- Deposits and withdrawals for TONCOIN will halt at 8:00 AM UTC on April 21, 2022.
- A system snapshot of user holdings (including Funding, Finance, and Trading accounts) will occur at 4:00 PM UTC on April 21, 2022 to process the migration.
2. Perpetual Swap Trading
- The TONCOINUSDT perpetual swap will be delisted at 8:00 AM UTC on April 20, 2022.
- Open positions will be settled at the arithmetic average price of the OKX index from the hour preceding delisting.
- Funding rates will reset to 0 at delisting.
👉 Risk Advisory: Market volatility may spike pre-delisting. Users are encouraged to reduce leverage or close positions early.
Adjusted Risk Control Parameters
| Time | X (Price Band) | Y (Dynamic Limit) | Z (Max Deviation) |
|-------------------------------|----------------|--------------------|--------------------|
| 48 hrs pre-delisting (Apr 18) | 2% | 2% | 5% |
| 30 mins pre-delisting (Apr 20)| 1% | 1% | 2% |
Note: Deviations due to market conditions may prompt manual price adjustments.
3. Post-Migration Steps
- Users holding ≥0.1 TONCOIN at snapshot will automatically receive TON tokens.
- Migrated assets can be viewed under Assets > My Assets > Funding Account.
- TONCOIN valuation will no longer reflect in account balances post-migration.
- OKX will announce TON deposit/withdrawal and trading service timelines post-stabilization.
FAQs
Q: When will TONCOIN trading resume?
A: Spot trading halts indefinitely; follow official updates for TON trading timelines.
Q: How are perpetual swaps settled?
A: Positions are settled based on the OKX index price 1 hour pre-delisting.
Q: Can I withdraw assets immediately after migration?
A: Users with >$10,000 positions face a 30-minute transfer restriction post-delisting.
Q: Where do migrated tokens appear?
A: Check your Funding Account under “My Assets.”
👉 Learn more about secure token migrations
For further inquiries, refer to OKX’s official channels.
### Keywords:
- TONCOIN migration
- OKX token swap
- TON tokens
- perpetual swap delisting
- crypto asset snapshot
- risk control parameters