OKX to List Story Protocol (IP) for Spot Trading

OKX has announced the listing of Story Protocol (IP) on its spot trading markets. The listing process will begin with IP deposits opening at 1:30 am UTC on February 11, 2025. This will be followed by a call auction from 8:00 am to 9:00 am UTC on February 13, 2025, with IP/USDT spot trading commencing immediately after at 9:00 am UTC. Withdrawals for IP will be available starting at 9:00 am UTC on February 14, 2025. More details can be found here.

To ensure a stable trading environment, OKX will implement specific order and price limits during the initial phase of trading. For the first five minutes, no market orders will be allowed, and each limit order must not exceed $10,000 in value. Additionally, users’ maximum net position size is capped at $10,000. These restrictions will be lifted after the first five minutes.

Price limits will also be in place if a spot index is available for the IP/USDT trading pair. The highest and lowest price limits will be adjusted according to market conditions, ensuring a balanced trading experience.

Call Auction Mechanism

The listing of IP/USDT will utilize a call auction mechanism, lasting for one hour. During this period, traders can submit buy and sell orders at their preferred prices. The system will process these orders according to call auction rules, determining an indicative opening price based on the submissions.

To maintain market order, each user’s total buy orders during the call auction cannot exceed $50,000. In the last five minutes of the auction, users can place new orders but cannot cancel or modify existing ones. Following the call auction, OKX will display the project team’s opening price as the initial price on the trading chart. This price is for informational purposes and does not affect the execution prices of orders.

About Story Protocol

Story Protocol aims to create the World’s IP Blockchain, an L1 platform that allows users to transform intellectual property (IP) assets into programmable IPs. The asset, known as Story Protocol, has a ticker symbol of IP and a total supply of 1,000,000,000 tokens.

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