Huobi Global to Delist SRM USDT-margined Perpetuals
Dear Huobi Global Users，
In line with our Token Management Rules, Huobi Global will be delisting SRM/USDT perpetuals at 8:00 (UTC) on November 14, 2022.
In closing all open positions of such perpetuals, Huobi will use the arithmetic average of their index prices in the last hour as the delivery price. All open and pending orders of these perpetuals will also be canceled. If the index prices appear to be subject to abnormal manipulation an hour before the delisting, the platform may adjust the delivery price to a reasonable level based on the actual situation. During delivery on the day of delisting, users are not required to pay any capital fee, delivery admin fee, or any other fees.
The market may experience strong price volatility before delisting. Therefore, you are advised to manage your risks by reducing leverages or closing positions in advance. If margin call losses are incurred from a forced liquidation at delisting, the insurance fund will be used to compensate users first, and the clawback mechanism will be activated for the portion that cannot be covered by the insurance fund. Accounts that have made a profit in the current period will bear a proportionate share of the margin call losses.
Delisted perpetuals will be marked as “Suspended” and will not be visible on Huobi Global a week after the delisting. Assets in users’ corresponding USDT-margined perpetual accounts will not be affected. The order history, transaction history, and transaction records will also remain accessible after the delisting, and all historical data will be retained for a week. If you need to back up any records, please export them in a timely manner from the corresponding pages via the Web interface.
Thank you for your support.
November 14, 2022
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Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on Huobi Global. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.