Dear OKX Users,
Value DeFi Protocol has announced a 1:1 token swap from YFV to VALUE. OKX will fully support this migration process. While withdrawals remain temporarily paused, we'll complete initial swaps using platform snapshot data, with on-chain migration to follow once withdrawals reopen.
Trading Adjustments During YFV Migration
1. Spot & Margin Trading
To minimize price volatility impacts during the smart contract migration:
- Oct 28, 13:00 HKT: Margin borrowing disabled
- Oct 29, 11:00 HKT: Automatic loan repayments triggered
Users with YFV/USDT margin positions must repay loans before this time - Oct 29, 16:00 HKT: Spot/margin trading suspended (all orders canceled)
- Oct 29, 17:00 HKT: Deposit services paused
- Oct 29, 18:00 HKT: Final user balance snapshot
VALUE tokens distributed 1:1 based on YFV holdings
2. Perpetual Contracts
YFVUSDT contracts will delist on Oct 29, 12:00 HKT with:
- All open positions settled using the 1-hour pre-delisting index average
- No funding fees or additional charges applied
Index Composition Update (Effective Oct 28, 14:00 HKT):
| Exchange | Trading Pair | Weight |
|---|---|---|
| OKX | YFV/USDT | 33.33% |
| Huobi | YFV/USDT | 33.33% |
| MXC | YFV/USDT | 33.33% |
👉 Manage your contract risk exposure before delisting.
3. Earn Products
- YFV deposits in Earn will automatically convert to VALUE
- No action required - assets remain available in funding accounts
Post-Migration Updates
- VALUE balances visible in Assets > Funding Account
Separate announcements will confirm:
- VALUE deposit availability
- Trading resumption timelines
Disclaimer: Digital assets carry significant volatility and risk. Please invest responsibly.
Frequently Asked Questions
Q: When will VALUE deposits/trading begin?
A: After stable network conditions are confirmed, with advance notice via official announcements.
Q: How are margin positions handled during migration?
A: All YFV/USDT loans require repayment before automatic settlement. Positions not closed will trigger forced liquidation.
Q: Will YFV staking rewards continue?
A: Earn products stop accruing YFV rewards at migration snapshot, with VALUE distributions replacing them.
👉 Get real-time migration updates through our official channels.
OKX Team
October 28, 2020
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