KuCoin Will Update the Polyhedra Network's Trading Ticker from ZK to ZKJ
Dear KuCoin Users,
KuCoin will update the Polyhedra Network's trading ticker from ZK to ZKJ. We will automatically complete the ZK swap to ZKJ for ZK holders on KuCoin.
The arrangements are as follows:
1. The withdrawal and deposit services for Polyhedra Network (ZK) will be closed at 07:00:00 on June 3, 2024 (UTC).
2. KuCoin Trading Bots will automatically stop the running bots of ZK/USDT at 01:45:00 on June 3, 2024 (UTC), including Spot Grid, Infinity Grid, Spot Martingale, DCA, Smart Rebalance, Futures Grid, Futures Martingale, AI Spot Trend, AI Futures Trend, DualFutures AI, and Margin Grid.
3. KuCoin will close the Spot trading service for the ZK/USDT trading pair at 08:00:00 June 3, 2024 (UTC). We recommend that you cancel your pending orders of ZK as soon as possible.
4. To complete the migration, we will convert the ZK to ZKJ at a ratio of 1:1 (1 ZK= 1 ZKJ).
Margin Trading:
At 02:00:00 on June 3, 2024 (UTC), the Margin trading, lending, and borrowing services of the ZK/USDT tokens’ will be closed. Additionally, the transferring functions for the Isolated Margin account related to ZK, as well as loan repayment, will also be closed.
If users have ZK loans in their Margin accounts, the system will cancel all open orders of ZK, initiate the liquidation process to close the ZK positions, and repay the loans. Subsequently, it will transfer all assets of the Isolated Margin accounts of ZK/USDT left behind to the Main account.
To protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans, and transfer the afore-mentioned token from the Isolated Margin account to other accounts in advance.
Related follow-ups to this subject will be announced separately as soon as possible.
Please note: After the migration is completed, Please choose ZKJ when operating the on-chain deposit to KuCoin, we will no longer support the Polyhedra Network (ZK) deposit to KuCoin.
Futures Trading:
The ZK/USDT perpetual contract will be delisted at 02:00 on June 3, 2024 (UTC). With the delisting of this contract, the open orders will be canceled, and the positions will be settled at the average index price during the last 30 minutes before the delisting. It is recommended that users close positions in advance to avoid unnecessary losses.
If abnormal market fluctuations occur and the index price is found to be maliciously manipulated, KuCoin Futures may undertake additional protective measures without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium, and capped funding rate, changing the constituents of the index price.
The market may fluctuate sharply before the contract delisting. It is suggested that users control risks by reducing the leverage or by closing positions in advance.
Spot Trading:
KuCoin will carry out a live upgrade at 6:30 AM on June 06, 2024 (UTC). The upgrade time will be 30 minutes. The websocket push of user balance/private order/l2 increment might cause loss or delay during the upgrade period.
If there is a large market fluctuation before the upgrade, we will postpone the upgrade according to the market change by announcement notice.
For further information, please refer to：
Thanks for your support!
The KuCoin Team
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