OKX to List Plasma (XPL) for Spot Trading and Convert Futures

OKX has announced the listing of Plasma (XPL) on its spot trading markets, alongside the conversion of pre-market futures to standard perpetual futures for the cryptocurrency. The listing timeline and trading details were shared by OKX, with deposits for XPL opening at 1:00 pm UTC on September 24, 2025.

The call auction for XPL will occur from 12:00 pm to 1:00 pm UTC on September 25, 2025, followed by the opening of XPL/USDT spot trading at 1:00 pm UTC the same day. Withdrawals for XPL will be available starting at 4:00 pm UTC on September 25, 2025.

Spot Market and Futures Conversion Details

To manage market volatility during the initial phase of XPL’s listing, OKX will implement specific risk control measures. During the first five minutes of spot trading, market orders will be restricted, and the maximum amount per limit order will be set at $10,000. Additionally, the maximum net position per user will be capped at $10,000. These restrictions will be lifted after the initial five-minute period.

OKX will also convert XPL pre-market futures to standard perpetual futures within three hours starting from 1:00 pm UTC on September 25, 2025. This conversion will be completed once the index remains stable during this period. The conversion process will be applicable across the web, app interfaces, and API.

Plasma’s Blockchain and Trading Mechanism

Plasma is a Layer 1 blockchain designed specifically for stablecoins, focusing on high performance, scalability, and security. The call auction mechanism will be utilized for the XPL/USDT spot listing, lasting for one hour. During this period, users can submit buy and sell orders at desired prices, with the trading system processing these submissions to calculate an indicative opening price.

To maintain market order, OKX has set a limit where the total value of each user’s buy orders during the call auction must not exceed $50,000. In the last five minutes before the call auction ends, users can place orders but cannot cancel or modify them. For more details on the call auction mechanism, visit the official announcement.

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