Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer HNT from the Margin account to other accounts in advance.
The details are as follows:
1. At 10:00:00 on May 18, 2022 (UTC), the borrowing services of HNT will be made unavailable (the lending and auto-renew functions are not affected). Meanwhile, the function of transferring HNT into the Margin account will not be available (the function of transferring HNT out from the Margin account is not affected).
2. At 02:00:00 on May 23, 2022 (UTC), KuCoin will close the margin trading services of HNT/USDT. The lending and borrowing services of HNT will also be closed completely. If users have HNT 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 HNT loans in advance!
3. At 02:00:00 on May 24, 2022 (UTC), The system will detect users’ Margin accounts automatically. If there are HNT assets in users’ Margin account, the system will automatically cancel all open orders, activate the liquidation process to close the positions, and repay loans, before transferring all HNT left out to the Main account.
*To avoid asset losses, it is recommended to control the debt ratio and transfer HNT assets out from the Margin account in advance!
Note:
1. HNT 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 HNT out to other accounts by yourself in advance. KuCoin assumes no responsibility for any losses arising from failure to operate in time.
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 Margin Team
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