Announcement on Delisting SUN/USD Coin-margined Swaps
Dear Valued Users,
According to the official plan (Please refer to the announcement>>>), SUN started implementing a token redenomination and platform upgrade on May 26, 2021 (UTC). To help users undergo the process smoothly, Huobi Futures plans to deliver and delist SUN/USD coin-margined swaps at 3:00 am on June 1, 2021 (UTC, Tuesday). The platform will use the arithmetic average of its index prices in the last hour as the delivery price to close all open positions of this swap. At that time all open orders of this swap will be canceled. If the index prices are abnormally manipulated an hour before the delisting, the platform may adjust the delivery price to a reasonable level according to the actual situation.
To ensure the successful delisting of SUN/USD Coin-margined swaps, Huobi Futures has adjusted the risk-control parameter settings as follows:
Risk Control Parameter Settings
3:00 am on May 31 (UTC) (24 hours before the delivery)
Normal hard price limit range is ±6%, non-basis price limit range is ±5%, basis price limit range is ±5%.
16:00 on May 31 (UTC) - 0:00 on June 1 (UTC)
Funding rate of this period is calculated normally, and the upper and lower limits of funding rate for the next period are adjusted to 0%.
0:00 on June 1 (UTC) - 3:00 am on June 1 (UTC)
Funding rate for the current period is 0%.
2:50 am on June 1 (UTC) (10 minutes before the delivery)
Normal hard price limit range is ±1%, non-basis price limit range is ±0.5%, basis price limit range is ±0.5%; closing positions is allowed while opening positions is not.
At 3:00 am on the day of delisting, users will not be charged for funding, delivery or any other fees upon delivery.
If any significant fluctuations should occur before the delisting, please manage your risk by deleveraging or closing positions in advance. If there are losses caused by forced liquidation, the system will use insurance funds to compensate users as a first layer of buffer, and the part that the insurance funds are not able to cover will enter into the clawback mechanism. Each profitable account will compensate based on the proportion of its profit.
After delisted, SUN/USD Swaps will be marked as “Suspended” and will not be displayed on Huobi Futures one week later. The assets of user SUN/USD swaps account will not be affected and the transfer-in/out function will be disabled at 4:00 am on June 1, 2021 (UTC). The system will snapshot users' assets of this swap, and the SUN will be transferred into the corresponding exchange account on June 1 (UTC) for the following SUN token swap. During the token swap, asset amount may be temporarily inaccurate, and it will return to normal within 48 hours. Please refer to the spot announcement for further details.
The order history, transaction history, and transaction records will be available to query after the delisting of SUN/USD swaps, and all data history will be retained for one week. If you need to back up records, please export in time on the corresponding pages of Trading Management on WEB.
May 28, 2021
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Huobi Global reserves the right in its sole discretion to amend, revise or cancel this announcement at any time and for any reasons without prior notice.