We will begin the process of removing margin trading for ETC/BTC on August 27, 2020. ETC/BTC will remain available for trading in our spot markets. We will continue to update this article with more information as it becomes available.
Poloniex customers who are margin trading in our ETC/BTC market need to begin taking immediate action to remove their positions and any collateral. Here are some important dates to keep in mind:
- August 27, 2020 at 18:00 UTC:
- You will no longer be able to transfer ETC into your Margin wallet or extend or increase your positions in the ETC/BTC market.
- All open margin orders will be canceled.
- Moving forward, only orders that reduce your open margin positions will be accepted.
- September 29, 2020:
- We will begin shutting down the ETC/BTC margin market.
- October 13, 2020:
- We will begin the process of liquidating any remaining open margin positions in the ETC/BTC margin market.
- We will also start to reduce the collateral value of any ETC held in customers’ "Margin" wallets.
Frequently Asked Questions
Q: Can I close my open positions for the ETC/BTC margin market?
A: Yes, you may close your margin positions using the ‘Close’ button under ‘Open Position’ within the margin trading page.
Q: Can I open any new margin positions in ETC/BTC?
A: As of August 27th, you will no longer be allowed to open margin positions in this market.
Q: What happens if I don’t close my position(s) in the ETC/BTC margin market?
A: Any remaining positions will start being forced liquidated on October 13th.
Q: What happens if I have collateral in ETC?
A: If you have any of your collateral for margin trading in ETC, your collateral will start to be devalued starting on October 13th. Lowering the value of your collateral will affect your current margin and decrease the amount you can borrow.