Dear KuCoin Users,
KuCoin will temporarily close the Margin services of BAND, TRU, MTL, BICO, NYM, BAKE, POWR, ALPHA.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer the tokens above from Cross Margin account and Isolated Margin account to other accounts in advance.
1. At 07:00:00 on October 27, 2022 (UTC), the borrowing services of the tokens will be closed.
2. At 07:00:00 on November 1, 2022 (UTC), the closure of BAND-USDT, TRU-USDT, MTL-USDT, BICO-USDT, NYM-USDT, BAKE-USDT, POWR-USDT, ALPHA-USDT Margin trading services, lending and borrowing services of the tokens above, the function of transferring the tokens above into the Cross Margin account or the Isolated Margin account , and repayment of the loans will take place (the function of transferring the tokens above out from Margin accounts is not affected) .
If users have the loans of the tokens above or the assets of the tokens above in Margin accounts, the system will cancel all open orders of the tokens above, activate the liquidation process to close the positions, and repay all loans before transferring all the tokens above in the Cross Margin account and all assets of the Isolated Margin accounts of the trading pairs above left out to the Main account.
* Margin services of ACA have temporarily closed. If users have the assets of ACA in Margin accounts, the system will also transfer all ACA assets in the Cross Margin account and all assets of the Isolated Margin account of the trading pair above left out to the Main account. For Details
*If prices of the tokens above fluctuate sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer the tokens above out from Margin accounts in advance!
Risk Warning: Margin trading refers to the practice of borrowing funds with a relatively lower amount of capital to trade financial assets and obtain bigger profits. However, due to market risks, price fluctuations, and other factors, you are strongly recommended to be prudent about your investment actions, adopt an appropriate leverage level for margin trading, and properly stop your losses in a timely manner. KuCoin assumes no responsibility for any losses arising from the trade.
We apologize for any inconvenience caused and appreciate your patience.
Thanks for your support!
The KuCoin Team