Important Update on Single-Coin Staking Loans
OKX will no longer support single-coin staking loans. If you have existing orders, immediate action is required to avoid potential losses.
Key Details:
- Extended Deadline: The service was originally scheduled to end on September 29, 2024, but the deadline was extended to November 29, 2024.
Final Repayment Deadline: January 10, 2025, 4:00 PM (UTC+8).
- Failure to repay by this date will result in OKX using your collateral to settle debts, which may lead to financial losses.
How to Check Your Loans:
- Mobile App: Navigate to Assets > Loans > Single-Coin Staking.
- Web Platform: Go to Asset Management > My Assets > Financial Account > Loans > Single-Coin Staking.
Why This Change?
OKX is streamlining its services to enhance user experience. The discontinuation of single-coin staking loans aligns with broader platform improvements.
FAQs
Q: What happens if I miss the repayment deadline?
A: OKX will automatically liquidate your pledged assets to cover the debt, which may result in partial or total loss of collateral.
Q: Can I still take out new single-coin staking loans?
A: No. New orders have been disabled since September 2023. Only existing loans require repayment.
Q: Where can I get help?
A: Contact OKX support via their Help Center or official social media channels.
👉 Learn more about OKX’s updated loan policies
Pro Tips for Borrowers
- Prioritize Repayment: Avoid last-minute delays by settling debts early.
- Monitor Collateral Value: Market volatility could affect your pledged assets.
- Explore Alternatives: Consider other OKX financial products like flexible or fixed-term loans.
Final Reminder
Act now to safeguard your assets. Missing the deadline may trigger automatic liquidation with no recourse. For further assistance, reach out to OKX customer support.