OKX Announces Listing of WalletConnect (WCT) for Spot Trading

OKX has announced the upcoming listing of WalletConnect (WCT) on its spot trading markets. The platform will open WCT deposits at 10:00 am UTC on April 15, 2025. However, the specific time for the commencement of WCT/USDT spot trading will be disclosed separately.

To manage market volatility during the initial phase of trading, OKX will implement certain risk control measures. For the first five minutes after trading begins, market orders will not be permitted. Additionally, the maximum amount per limit order and the maximum net position per user will be capped at $10,000. These restrictions will be lifted after the initial five-minute period.

Price Limit Rules and Call Auction Mechanism

OKX will employ price limit rules based on closing prices when a stable index price is unavailable. Once a stable index price is established, index-based limit rules will be applied. During the first minute of listing, the maximum bid price will be determined by the call auction’s execution price, while no limit will be set for the minimum ask price.

The call auction mechanism will be used for the WCT/USDT spot listing, lasting for one hour. This mechanism allows users to submit buy and sell orders at desired prices before the official start of trading. The system processes these orders according to call auction rules, calculating an indicative opening price based on submissions.

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

About WalletConnect (WCT)

WalletConnect (WCT) aims to enhance user experience innovation, expand the ecosystem, and guide the network towards a decentralized, permissionless future. The asset has a total supply of 1,000,000,000 tokens. For more details, visit the official announcement here.

Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.