Delisting of a perps contract

For Pro mode (orderbook perpetual contracts)

To maintain a healthy trading environment, Aster Pro may delist certain perpetual futures contracts based on factors like low liquidity or low trading volume. The delisting process is designed to be transparent and timely.

This article outlines the delisting process, including timelines, restrictions, and settlement behavior.

Reasons for delisting

A futures contract may be delisted due to one or more of the following:

• Low liquidity or trading volume

• Project operations cease

• Major changes to the underlying blockchain (e.g. hard fork)

• Other factors that negatively affect the trading experience

Delisting process

1. Announcement

   A delisting notice will be issued on Twitter, Medium, Telegram, and Discord at least 24 hours in advance. The announcement will include the cessation of trading date and any relevant instructions for users.

2. Reduce-only window

   Starting 10 minutes before the cessation of trading, users can only place reduce-only orders for the affected contract. New positions cannot be opened during this time.

3. Final mark price calculation

   During the last hour before trading stops, the mark price of the delisted contract is calculated as the average of the price index every second over that hour — a total of 3,600 data points.

4. Trading halt and settlement

   At the time of delisting:

   • All remaining open positions will be automatically closed at the final mark price.

   • Trading fees will be charged for the automatic settlement.

   • All unrealized PnL will be settled and converted into realized PnL at that time.

After delisting

• The delisted contract will no longer be available for trading.

• Historical data may remain available for reference.

Recommendations

To avoid automatic settlement and additional fees, traders are strongly advised to manually close all positions before the cessation of trading.