The launch of ME (Magic Eden) spot trading on OKX has been rescheduled. Below is the updated timeline and essential information for users preparing to trade ME/USDT.
Updated Launch Schedule
OKX will delay the listing of ME (Magic Eden) to ensure a smooth and secure trading experience. The revised schedule is as follows:
1. Call Auction Phase
Time: December 10, 2024, 9:30 PM – 10:00 PM (UTC+8)
2. ME/USDT Spot Trading Goes Live
Time: December 10, 2024, 10:00 PM (UTC+8)
3. ME Withdrawal Availability
Time: December 11, 2024, 11:00 AM (UTC+8)
Please note that all times are subject to change based on market conditions. Users are advised to monitor official announcements for real-time updates.
👉 Discover how to maximize your new token trading strategy with advanced tools.
Spot Trading Risk Control Rules
To protect investors during high-volatility periods following a new token listing, OKX will implement temporary restrictions during the first 5 minutes of ME/USDT spot trading:
- Market orders are disabled
- Maximum limit order value: $10,000 per order
These restrictions will be automatically lifted after the initial 5-minute window to allow full trading functionality.
This measure helps prevent slippage and unintended executions during price discovery phases, ensuring a fairer market entry for all participants.
Understanding the Call Auction Mechanism
The ME/USDT trading pair will go live using a call auction mechanism, designed to establish a balanced opening price through aggregated order matching.
How It Works:
- The call auction runs for 30 minutes (9:30 PM – 10:00 PM UTC+8).
- During this period, users can place limit orders at their desired prices.
- The system collects all bids and asks to calculate a reference opening price based on supply and demand equilibrium.
- However, the official starting price will be set by the Magic Eden project team and provided to OKX.
- This project-determined price serves as the initial market price but does not affect your individual order prices.
The call auction enhances market transparency and reduces manipulation risks during early trading stages.
Users are encouraged to participate in the call auction phase to secure favorable entry positions before continuous trading begins.
Project Overview: ME (Magic Eden)
ME is the native token of Magic Eden, a leading cross-chain marketplace and decentralized application (DApp) ecosystem. The platform aims to unify multi-chain digital asset trading within its mobile wallet interface, offering users seamless access across blockchains.
Key Details:
- Full Name: Magic Eden
- Ticker Symbol: ME
- Total Supply: 1,000,000,000 ME
- Primary Use Case: Powers transactions, governance, and ecosystem incentives within the Magic Eden network
Magic Eden focuses on expanding user adoption across multiple blockchain networks, enabling frictionless NFT and token trading directly from its mobile wallet. By integrating various ecosystems, it positions itself as a super DApp for cross-chain interoperability.
As decentralized finance evolves, assets like ME play a crucial role in connecting fragmented blockchain environments—making them attractive to both retail and institutional investors.
👉 Learn how cross-chain tokens like ME are shaping the future of decentralized finance.
Futures Contract Settlement Information
For users holding pre-listing MEUSDT futures contracts, here’s what you need to know about settlement procedures.
1. Settlement Timing
Futures contracts will settle 2.5 hours after spot trading goes live.
The settlement price will be calculated between 2–3 hours post-spot launch.
If the spot listing time changes, futures settlement will adjust accordingly.
2. Settlement Price Calculation
- Index Price Source: Aggregated from three or more major exchanges
- Final Settlement Price: Arithmetic average of the OKX index over the last hour before settlement
In cases of suspected price manipulation or extreme volatility, OKX reserves the right to adjust the final price to a fair and reasonable level.
This ensures equitable treatment for all traders and minimizes systemic risk.
3. Post-Settlement Restrictions
After settlement:
- Users with MEUSDT futures positions valued over $10,000 will face temporary asset transfer restrictions.
- These restrictions last 30 minutes, after which normal operations resume.
All historical orders and account statements remain accessible via the OKX web platform under "Order Center" for download and review.
4. Settlement Fee
A flat 1% fee applies to all settled contracts. Any future adjustments will be announced in advance.
5. Price Limit Rules (Pre-Settlement)
To maintain market stability:
During Regular Pre-Settlement Phase:
- Max Buy Price: 1-hour average mid-price × (1 + 15%)
- Min Sell Price: 1-hour average mid-price × (1 – 15%)
Final 60 Minutes Before Settlement:
- Max Buy Price: 1-hour average mid-price × (1 + 5%)
- Min Sell Price: 1-hour average mid-price × (1 – 5%)
Mid-price = (Best Bid + Best Ask) / 2 — recalculated every minute
These dynamic limits prevent excessive speculation and promote orderly price discovery.
Risk Management Reminder
OKX strongly advises users to exercise caution when trading newly listed assets like ME. Digital tokens are highly volatile and carry significant investment risk.
Recommended Actions:
- Reduce leverage ahead of settlement
- Consider closing positions early if market conditions are uncertain
- Monitor your portfolio closely during high-impact events
In the event of liquidations leading to insufficient risk fund coverage, the system will initiate automatic position reductions (ADL) starting with the most profitable traders.
This mechanism protects platform integrity and ensures fair loss distribution across the trading community.
Prepare for ME/USDT Trading
Ensure your account is ready for the launch:
✅ Deposit USDT in advance
✅ Verify your identity (KYC completed)
✅ Enable two-factor authentication (2FA)
✅ Familiarize yourself with order types and risk controls
Being prepared allows you to act quickly once trading begins—especially important during the critical first minutes of price discovery.
Frequently Asked Questions (FAQ)
Q: Why was ME spot trading delayed?
A: The delay allows OKX to ensure optimal system performance, accurate price discovery, and enhanced user protection during the launch phase.
Q: Can I trade ME during the call auction?
A: Yes. You can place limit orders during the call auction (9:30 PM – 10:00 PM UTC+8), but no trades execute until the official opening.
Q: Is the opening price determined by the call auction?
A: No. While the auction calculates a reference price, the official starting price is provided by the Magic Eden team and used for initial trading continuity.
Q: What happens if my futures position exceeds $10,000 at settlement?
A: You’ll face a temporary (30-minute) restriction on asset transfers immediately after settlement. Trading functionality remains unaffected.
Q: How is the settlement price protected from manipulation?
A: OKX uses a multi-exchange index average and reserves the right to adjust prices if anomalies are detected, ensuring fairness.
Q: Where can I view my past futures orders?
A: Go to the OKX web platform → “Order Center” → “Futures History” to download your complete transaction records.
Digital innovation continues to accelerate in the blockchain space, and tokens like ME represent pivotal steps toward unified, user-friendly decentralized ecosystems. With proper preparation and risk awareness, traders can position themselves effectively in this evolving landscape.
👉 Stay ahead of market shifts with real-time analytics and secure trading infrastructure.