Postponement of the BTT/USDT Swaps Delisting

Dear Valued Users,

The delisting of BTT/USDT swaps originally scheduled at 03:00 (UTC) on Jan 14, 2022 will be delayed to 16:00 (UTC) on Jan 14, 2022.

 

The platform will use the arithmetic average of the BTT/USDT swaps’ index prices in the last hour as the delivery price to close all open positions. During which all open orders of these swaps will also be canceled. If the index prices are abnormal and there is a risk of being manipulated an hour before the delisting, the platform may adjust the delivery price to a reasonable level based on the actual situation.

 

To ensure the successful delisting of these swaps, Huobi Futures has adjusted the risk-control parameter settings as follows:

Time

Risk Control Parameter Settings

03:00 (UTC) on Jan 13

The normal hard price limit range is ±6%, the non-basis price limit range is ±5%, basis price limit range is ±2.5%. 

16:00 (UTC) on Jan 13 - 24:00 (UTC) on Jan 13

The funding rate during this period is calculated as it is normally, and the upper and lower limit of funding rate for the next two periods is adjusted to 0%.

00:00 (UTC) on Jan 14 - 08:00 (UTC) on Jan 14

The funding rate of this period is 0%.

08:00 (UTC) on Jan 14 - 16:00 (UTC) on Jan 14

The funding rate of this period is 0%.

15:50 (UTC) on Jan 14 (10 minutes before delivery)

The normal hard price limit range is ±1%, the non-basis price limit range is ±0.5%, basis price limit range is ±0.5%; Closing positions is allowed while opening positions is not.

 

On the delisting day, users with open positions will not be charged for funding and will not have to pay delivery fees or others at the delivery of 16:00 (UTC).

 

Please note that it may take 10 minutes or less to settle USDT-margined swaps at 16:00 (UTC) on Jan 14, 2022, which depends on the actual situation. If you have any questions, please contact our customer services.

 

To avoid extreme price volatility before the delisting, please manage your risk by reducing leverages or closing positions in advance. If a forced liquidation order fails to be closed and causes over losses, the system will use the insurance fund to compensate users first, and for the parts that the insurance fund is unable to cover, the clawback mechanism will be applied. The accounts that are profitable, will share the losses proportionally.

 

After BTT/USDT swaps are delisted, they will be marked as “Suspended” and will not be shown on Huobi Futures a week later. The assets in users’ corresponding USDT-margined swaps account 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 extract them within the time frame on the corresponding pages of Trading Management from the website.

 

Risk Reminder: Trading digital assets and digital asset derivatives comes with high risks due to substantial price volatility. Please fully understand all the risks involved and make prudent decisions before trading. Please read our detailed risk remindertext here.

 

Thank you for your support!

 

Huobi Futures

January 14, 2022

 

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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.