OKX Announces Listing of Solayer (LAYER) for Spot Trading

OKX has announced the listing of Solayer (LAYER) on its spot trading markets. The listing process will begin with the opening of LAYER deposits at 6:00 am UTC on April 25, 2025. A call auction will follow from 9:00 am to 10:00 am UTC, with LAYER/USDT spot trading commencing at 10:00 am UTC on the same day. Withdrawals for LAYER will be available starting at 10:00 am UTC on April 26, 2025. More details can be found here.

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

OKX will also apply price limit rules based on the closing price until a stable index price is available. During the first minute of listing, the maximum bid price will be determined by the call auction’s execution price multiplied by a factor (1 + H), with no minimum ask price limit. In subsequent minutes, the previous minute’s closing price will be used for calculations until a stable index price is established.

The call auction mechanism will be employed for the LAYER/USDT spot listing. This mechanism allows users to submit buy and sell orders at desired prices before the trading pair officially begins trading. The system processes these submissions according to call auction rules, calculating an indicative opening price. During the call auction, the total value of each user’s buy orders must not exceed $50,000, and in the last five minutes, users can place orders but cannot cancel or modify them.

Solayer is a restaking protocol built on the Solana blockchain, designed to enhance network bandwidth for decentralized applications (dApps) while improving Solana’s security. The asset has a total supply of 1,000,000,000 LAYER tokens. For more information on Solayer’s price, visit the OKX website.

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