In order to prevent socialized clawbacks from occurring, we have been working really hard to optimize our risk management system, such as launching price limit rules, early forced liquidation system, forced liquidation order price adjustment and more. There have been malicious rumors accusing us of manipulating the forced liquidation system. We hereby would like to point out the fact that, most of the similar price movements in the market are caused by forced liquidation orders.

In using OKX’s services, you agree that you may be subject to the Forced Repayment Mechanism in the aforesaid or analogous situations. It is described in further detail below.How does the Forced Repayment Mechanism ("FRP") and Auto-Crypto Conversion work?Platform Based FRP OKX imposes a dynamic Platform borrowing limit for each cryptocurrency.

Forced Loan Repayment / Credit Line Liquidation Rules When the MR% of a Risk Unit is equal to or lower than the applicable liquidation MR (which is typically 15% unless otherwise communicated), forced repayment of the loans associated with that Risk Unit is triggered (for VIP Loan, this is referred to as Forced Loan Repayment, note that this is different to the forced repayment that can be triggered as a result of negative balances existing or platform limits being met; for Credit Line, this is referred

USD Expiry Perpetuals (X-Perps) OKX USD-margined X-Perp is a derivative product that settled in USD. X-Perps are settled in USD-equivalent currencies such as USDC, USDG, or USD. The X-Perp includes a funding fee mechanism to keep prices aligned with the spot market. It has a defined expiration date set in the future.

Standard perpetual futures X-Perps (Expiry Perps) Expiry date No expiry Fixed — 60 months from issuance Funding rate Yes — every 8 hours Yes — every 8 hours Price anchored to spot Via funding rate Via funding rate Settlement Closed by trader or liquidation Cash settlement at 60-month expiry Forced rollover Never Never — until expiry Day-to-day trading feel Standard perp UX Identical to standard perp UXHow does X-Perps differ from spot trading?

Note: this article is for verified users trading X-Perps in the EEA region. This article explains how PnL (profit and loss) works in X-Perps, so you can understand what your account is showing and why your net result may differ from the raw price move. In X-Perps trading, PnL (profit and loss) is commonly shown in two forms: unrealized PnL and realized PnL.What's unrealized PnL in X-Perps? Unrealized PnL is the gain or loss in an open position based on current pricing.

There might be scenarios where user-based forced repayment or platform-based forced repayment is triggered and assets are sold to repay liabilities. For more details, refer to Forced repayment.

The classification may affect certain regulatory protections, but the X-Perps product offering is identical for both.2. Do I need to complete KYC before the appropriateness assessment? Yes. You must complete identity verification (KYC) before you can access the appropriateness assessment or trade X-Perps. Important note: X-Perps are leveraged derivatives. Leverage can amplify both gains and losses, and losses may occur rapidly. These products may not be suitable for all investors.

If your X-Perps order was rejected, here's what to check. Rejections usually mean one or more trading, margin, or risk-control conditions were not met at the time of submission.

X-Perps supports multiple order types to help you manage entries, exits, and risk. The right order type depends on whether you prioritise speed, price control, or automation. Note: this article is for verified users trading X-Perps in the EEA region.What is a market order in X-Perps? A market order executes immediately at the best available price(s) in the market. Use when: execution speed matters more than exact price.

To expand multi-chain access and better meet users’ trading needs, OKX is pleased to announce support for BABYDOGE deposits and withdrawals on the X Layer chain, offering users greater flexibility and an enhanced on-chain experience. As part of the ongoing X Layer PP upgrade and OKB gas optimisation, BABYDOGE support on the OKTC chain will be gradually sunset.

We'll be supporting the X Layer (OKB) network upgrade. We’ll suspend deposits and withdrawals of X Layer (OKB) and tokens belonging to the network at 02:00 pm UTC on October 27, 2025. The services will resume once the upgraded network is stable without further announcement. If you hold any OKB and tokens belonging to the X Layer network in your account, you don’t need to do anything during the upgrade period.

X Layer uses improved zk-SNARK for more compact and cost-effective transactions, and dramatically reduces transaction fees, making it affordable for users to engage with their digital assets. X Layer is Integrated with both OKX exchange and OKX Wallet. With McLaren NFT on X Layer, McLaren fans will be able to connect with over 50 million active crypto-native builders and creators on the X Layer and OKX platform, and have access to the gateway of web3 world.

This is subject to platform rules and your specific position setup.Why leverage matters in X-Perps? X-Perps are margin-based products.

Campaign Overview and Period The "450,000 XPL X-Drops Campaign" (the "Campaign") begins on December 17, 2025 (the "Start Date") and ends on December 23, 2025 (the "Campaign Period").