Deveab Blog

Story Protocol (IP) Spot Trading Now Available on OKX

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OKX is excited to announce the listing of Story Protocol (IP) for spot trading. Below are the key details and timeline for the launch:

Key Dates for Story Protocol (IP) Listing

  1. Deposits Open: February 11, 2025, at 9:30 AM (UTC+8)
  2. Call Auction Period: February 13, 2025, 4:00 PM – 5:00 PM (UTC+8)
  3. Spot Trading Starts: February 13, 2025, at 5:00 PM (UTC+8) (IP/USDT pair)
  4. Withdrawals Open: February 14, 2025, at 5:00 PM (UTC+8)

👉 Deposit IP tokens now to prepare for trading.

Spot Trading Risk Control Rules

To protect users from extreme volatility during the initial launch, OKX will enforce the following trading limits for the first 5 minutes:

  • No market orders allowed.
  • Limit orders capped at $10,000 per order.
  • Net position limit of $10,000 per user.

These restrictions will be lifted after 5 minutes.

Price Limits

If an index price is available, the following rules apply:

Phase Buy Order Max Price Sell Order Min Price
First 10 minutes Index * (1 + X) Index * (1 - X)
After 10 minutes Min[Max(Index, Index * (1 + Y), 2-min avg), Index * (1 + Z)] Max[Min(Index, Index * (1 - Y), 2-min avg), Index * (1 - Z)]

Note: Parameters X, Y, and Z are adjusted based on market conditions.

Call Auction Mechanism

The IP/USDT pair will debut with a 1-hour call auction:
– Users can submit limit orders at their desired price before trading begins.
– A reference opening price is calculated based on aggregated orders.

Rules:
1. Buy limit: $50,000 per user during the auction.
2. Final 5 minutes: Only limit orders allowed; no modifications/cancellations.

👉 Learn more about OKX’s auction mechanism.

Note: The project team’s suggested opening price (based on valuation) is for reference only and does not affect user orders.

About Story Protocol (IP)

Story Protocol is building an L1 blockchain for intellectual property (IP), enabling programmable ownership and monetization of creative assets.

  • Full Name: Story Protocol
  • Ticker: IP
  • Total Supply: 1,000,000,000 IP

How to Participate

  1. Deposit USDT or IP to your OKX account.
  2. Trade IP/USDT starting February 13, 2025.

FAQ

1. When can I withdraw IP tokens?

Withdrawals open on February 14, 2025, at 5:00 PM (UTC+8).

2. Why are there trading limits initially?

To reduce risks from high volatility during new listings.

3. What’s the difference between call auction and regular trading?

The auction aggregates orders to determine a fair opening price, while regular trading follows continuous order-book matching.

👉 Start trading IP today.

OKX remains committed to delivering secure, innovative trading experiences. Stay tuned for more listings!

Last Updated: February 11, 2025

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