Introduction to SPK Listing
OKX is excited to announce the listing of SPK (Spark), a groundbreaking DeFi protocol enhancing the USDS ecosystem. Below are the key details regarding the trading schedule and platform safeguards:
SPK Trading Timeline (UTC+8)
- Deposit Opening: June 16, 2025, 11:00 PM
- Auction Period: June 17, 2025, 5:00 PM – 6:00 PM
- SPK/USDT Spot Trading Launch: June 17, 2025, 6:00 PM
- Withdrawal Activation: June 17, 2025, 8:00 PM
Risk Management for New Listings
To protect investors from initial volatility, OKX implements these safeguards during the first 5 minutes of trading:
- Market orders: Disabled
- Limit order cap: $10,000 per order
- User position limit: $10,000 net
Restrictions lift automatically after 5 minutes.
Price Limit Mechanisms
1. Closing-Price Based Rules (Initial Phase)
| Trading Phase | Buy Order Max Price | Sell Order Min Price |
|---|---|---|
| First minute | Auction price × (1 + H) | No limit |
| Minutes 1–N (no index) | Previous minute’s close × (1 + H) | No limit |
| After N minutes (no index) | No limit | No limit |
2. Index-Based Rules (When Available)
| Trading Phase | Buy Order Max Price Formula | Sell Order Min Price Formula |
|---|---|---|
| First 10 minutes | Index × (1 + X) | Index × (1 – X) |
| After 10 minutes | Min[Max(Index, Index×(1+Y)+2m avg premium), Index×(1+Z)] | Max[Min(Index, Index×(1–Y)+2m avg premium), Index×(1–Z)] |
Parameters (N, H, X, Y, Z) may adjust without notice based on market conditions.
Auction System Details
SPK/USDT will debut with a 1-hour auction period, allowing users to submit limit orders at preferred prices. Key auction rules:
- Buy order cap: $50,000 per user
- Final 5 minutes: Only limit orders allowed (no modifications/cancellations)
The project team’s suggested opening price (based on valuation) serves as the initial reference but doesn’t override user-submitted orders.
👉 Learn more about auction mechanics
SPK (Spark) Project Overview
Protocol: Powers USDS ecosystem through yield generation and cross-DeFi liquidity allocation
Token Details:
– Full Name: Spark
– Ticker: SPK
– Max Supply: 10,000,000,000
– Contract: 0xc20059e0317DE91738d13af027DfC4a50781b066
Frequently Asked Questions
1. When can I withdraw SPK after trading begins?
Withdrawals activate at 8:00 PM UTC+8 on June 17, 2025 – two hours after spot trading launches.
2. Why are there trading restrictions initially?
The 5-minute safeguards prevent market manipulation and extreme volatility common during new token listings.
3. How does the auction determine SPK’s opening price?
The system aggregates all limit orders to calculate a balanced reference price, independent of the project team’s suggested valuation.
4. Can I place market orders immediately after trading starts?
No – only limit orders are accepted during the first 5 minutes (6:00–6:05 PM UTC+8).
5. What’s the advantage of participating in the auction?
Early participants may secure better entry prices before broader market activity begins.
6. Where can I check real-time SPK price data?
Monitor live charts on OKX’s spot trading dashboard post-launch.
Prepare for Trading
Deposit USDT now to be ready for SPK trading:
✅ No deposit fees
✅ Instant balance updates
OKX remains committed to delivering secure, innovative trading experiences.
Last Updated: June 16, 2025