Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer DEGO from the Margin account to other accounts in advance.
The arrangement details are as follows:
1. At 10:00:00 on March 11, 2022 (UTC), the closure of borrowing services of DEGO, and the closure of the function of transferring DEGO into the Margin account will take place.
Then the borrowing services of DEGO will be made unavailable (the lending and auto-renew functions are not affected). Meanwhile, the function of transferring DEGO into the Margin account will not be available (the function of transferring DEGO out from the Margin account is not affected).
2. At 02:00:00 on March 15, 2022 (UTC), the closure of DEGO Margin trading services, the closure of DEGO lending and borrowing services , and repayment of the loans will take place.
KuCoin will close the margin trading services of DEGO/USDT. The lending and borrowing services of DEGO will also be closed completely, as well as their auto-renew services. If users have DEGO loans in the Margin account, the system will partially liquidate the users’ margin positions to repay the loans.
*To avoid asset losses, it is recommended to repay DEGO loans in advance!
3. At 02:00:00 on March 16, 2022 (UTC), DEGO assets in the Margin account will be transferred to the Main account automatically.
The system will detect users’ Margin accounts automatically. If there are DEGO assets in users’ Margin account, the system will automatically cancel all open orders, activate the liquidation process to close the positions, and repay DEGO loans, before transferring all DEGO left out to the Main account.
*To avoid asset losses, it is recommended to control the debt ratio and transfer DEGO assets out from the Margin account in advance!
Note:
1. DEGO Spot trading services are not affected.
2. It is recommended that you can cancel the open orders, close the positions, repay the loans, and transfer DEGO out to other accounts by yourself in advance. KuCoin assumes no responsibility for any losses arising from failure to operate in time.
Thanks for your support!
The KuCoin Margin Team
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