OKX will launch PENGU/USDT for spot trading
OKX is pleased to announce the listing of PENGU (Pudgy Penguins) on our spot trading markets. Please take note of the following details:
Listing timeline
PENGU Call auction will take place from 1:00 pm to 2:00 pm UTC on Dec 17, 2024.
PENGU/USDT Spot trading will open at 2:00 pm UTC on Dec 17, 2024.
PENGU withdrawals will open at 2:00 am UTC on Dec 18, 2024.
Rules for spot trading opening
Order limits: In order to protect traders from price volatility at the opening of spot trading, OKX will impose the following restrictions on orders during the first 5 minutes of trading:
No market orders allowed.
Each limit order must not exceed 10,000 USD in value.
These restrictions will be lifted after the first 5 minutes of trading.
Price limits: If a spot index is available for this trading pair, OKX will enable the price limit. Specific price limit rules are as follows:
Phase | Highest price limit | Lowest price limit |
Within 10 mins of spot/margin listing | Index * (1 + X) | Index * (1 - X) |
10 minutes after spot/margin listing | Min[Max(Index, Index (1 + Y) + Avg. premium in last 2 mins), Index * (1 + Z)] | Max[Min(Index, Index * (1 - Y) + Avg. premium in last 2 mins), Index * (1 - Z)] |
Note: The parameters of X, Y, Z will be adjusted according to market conditions.
About Call Auctions
Call auction mechanism will be used for spot listing of PENGU/USDT. The call auction period will last for 1 hour.
OKX operates a call auction mechanism that allows you to submit buy and sell orders at your desired prices according to certain trading parameters before a new trading pair officially begins trading. The trading system processes all submissions according to call auction rules and calculates an indicative opening price based on these submissions.
In order to provide more trading information, following the end of the call auction, OKX will display the project team's opening price at the commencement of continuous trading as the initial price of the trading chart. The project team's opening price is provided by the token project team usually based on the valuation of the project. This project team's opening price is displayed for information purpose only, and is not determined by the call auction mechanism, and will not impact the prices where you will execute the orders.
Risk warning: The foregoing overview and information, some of which may be provided by third parties and not OKX, are for informational purposes only. OKX does not guarantee the accuracy or completeness of any information contained herein and such information does not constitute any representation, warranty or any financial, investment or other form of advice by OKX. Such information may not be suitable for all persons; it should not be relied upon in connection with a particular investor's trading; and, is not intended to be, nor should be construed as, an offer, recommendation or solicitation. Such information is also not intended for persons who reside in jurisdictions where providing such information would violate the laws or regulations of such jurisdiction. Digital assets are highly speculative and subject to high volatility, may become illiquid at any time, and that investors may lose the entire value of their investment. Before trading any digital asset, you should do your own research and evaluate your risk appetite. OKX is not responsible for any losses which you may incur from trading digital assets. Please refer to OKX Terms of Service and Risk & Compliance Disclosure for more information.
For any inquiries, please feel free to contact us via OKX Support Center or connect with us on any platform of your choice.
OKX Team
Dec 17, 2024