Key Dates and Trading Schedule
- SPK Deposit Opens: June 16, 2025, 11:00 PM (UTC+8)
- SPK Trading Window: June 17, 2025, 5:00 PM – 6:00 PM (UTC+8)
- SPK/USDT Spot Trading Starts: June 17, 2025, 6:00 PM (UTC+8)
- SPK Withdrawal Opens: June 17, 2025, 8:00 PM (UTC+8)
Spot Trading Risk Control Rules
To safeguard investors from volatility during new listings, OKX implements the following restrictions for the first 5 minutes of trading:
- ❌ Market orders disabled.
- 🔄 Limit orders capped at $10,000 per order.
- 🧑💻 Maximum net position per user: $10,000.
Restrictions lift automatically after 5 minutes.
Price Limit Mechanisms
1. Closing-Price-Based Limits (Applied when index price is unavailable)
| Phase | Buy Order Max Price | Sell Order Min Price |
|-------------------------|---------------------------|-----------------------|
| First minute | Auction price × (1 + H) | No limit |
| Minutes 1–N | Previous close × (1 + H) | No limit |
| After N minutes | No limit | No limit |
2. Index-Price-Based Limits (Enabled with stable index)
| Phase | Buy Order Max Price | Sell Order Min Price |
|-------------------------|---------------------------|-----------------------|
| First 10 minutes | Index × (1 + X) | Index × (1 – X) |
| After 10 minutes | Complex dynamic formula | Complex dynamic formula |
*Parameters (N, H, X, Y, Z) may adjust without notice.
👉 View real-time trading rules
About SPK/USDT Auction
SPK spot listing will use a 1-hour auction period:
- Users submit limit orders at desired prices.
- System calculates a reference opening price based on aggregated orders.
Auction Rules:
- 🚫 Single-user buy limit: $50,000 total.
- ⏳ Last 5 minutes: Orders cannot be modified/canceled.
Note: The project team’s suggested opening price (based on valuation) serves as the initial reference but doesn’t override user-submitted orders.
Project Overview: Spark (SPK)
Spark is a DeFi protocol enhancing the USDS ecosystem, enabling users to:
- Earn yields via stablecoins.
- Participate in USDS-centric lending.
- Allocate liquidity across DeFi platforms.
| Detail | Value |
|-------------------------|---------------------------|
| Full Name | Spark |
| Ticker | SPK |
| Total Supply | 10,000,000,000 |
| Contract Address | 0xc200...1b066 |
FAQ
1. When can I withdraw SPK?
Withdrawals open on June 17, 2025, 8:00 PM (UTC+8).
2. Why are market orders blocked initially?
To prevent extreme volatility during the liquidity ramp-up phase.
3. How is the auction reference price determined?
By matching aggregated buy/sell orders submitted during the auction.
Prepare for Trading
Deposit USDT now to trade SPK/USDT at launch!
OKX is committed to delivering exceptional products and services.
OKX Team
June 16, 2025