KEY TAKEAWAYS
- OKX announces the listing of Vine Coin (VINE) on its spot trading markets, with trading set to begin on January 26, 2025.
- Initial trading restrictions include a cap on market orders and a limit on net position size to ensure market stability.
- A call auction mechanism will be used for the VINE/USDT listing, allowing users to submit orders before official trading begins.
- Vine Coin, a meme coin with a total supply of 1 billion tokens, commemorates the cultural impact of the Vine platform.
OKX has announced the listing of Vine Coin (VINE) on its spot trading markets. The listing process will begin with VINE deposits opening at 5:30 am UTC on January 26, 2025. This will be followed by a call auction from 9:00 am to 10:00 am UTC, with VINE/USDT spot trading commencing at 10:00 am UTC the same day. Withdrawals for VINE will be available starting at 10:00 am UTC on January 27, 2025.
The exchange has implemented specific rules to manage the initial trading period. During the first five minutes of spot trading, no market orders will be allowed, and each limit order must not exceed a value of 10,000 USD. Additionally, users’ maximum net position size is capped at 10,000 USD. These restrictions will be lifted after the initial five-minute period.
Call Auction and Price Limits
OKX will utilize a call auction mechanism for the VINE/USDT listing. This mechanism allows users to submit buy and sell orders at desired prices before the trading pair officially begins trading. The call auction will last for one hour, and during the last five minutes, users can place orders but cannot cancel or modify them.
To maintain market stability, OKX will impose price limits if a spot index is available for the trading pair. These limits will be adjusted based on market conditions, with specific parameters for the highest and lowest price limits during the initial trading phases.
Vine Coin Overview
Vine Coin, with the ticker VINE, has a total supply of 1,000,000,000 tokens. The coin was launched as a meme coin to commemorate the cultural impact of Vine, a platform known for its short video content. The listing of VINE on OKX is expected to provide traders with new opportunities to engage with this unique digital asset.
For more details on the listing and trading rules, please visit the official announcement here.
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