According to their official announcement on Dec 6, 2021, the BTT team has started the process of implementing their planned 1000x BTT token split. After this update, old BTT tokens (hereon referred to as BTTOLD) will be redenominated and swapped with new BTT tokens at a 1:1000 ratio. So far, OKEx supports spot, margin, and perpetual swap trading — as well as savings — for BTT. In order to ensure the interests of BTT holders, OKEx will support the BTT 1000x split plan and will provide a temporary solution for BTT spot, margin, and perpetual swap transactions during the split. The details are as follows: 1. Spot and margin trading To avoid users' transactions being affected by the price changes caused by the BTT split, OKEx plans to: (1) The borrowing function for BTT will be closed at 10:00 am UTC on Dec 23, 2021. (2) As a forced repayment will be triggered at 6:00 am UTC on Jan 12, 2022, users who have borrowed cryptos under the BTT/USDT or BTT/BTC trading pair (including borrowing USDT, BTC or BTT under the pairs) should make sure to repay the cryptos by 6:00 am (UTC). Otherwise, a forced-repayment will be carried out by the system. (3) 10:00 am UTC on Jan 12, 2022, BTT spot and margin trading services will be suspended, and all market orders will be canceled. (4) Deposit and withdrawal services for BTT will be suspended at 10:00 am UTC on Jan 13, 2022. If you wish for OKEx to handle the technical aspects of the split, please deposit your BTT assets prior to this suspension deadline. (5) At 16:00 pm UTC on Jan 13, 2022, the system will snapshot the total holdings of all users in order to process the split. The snapshot will include: spot trading accounts, margin trading accounts, coin-margined perpetual accounts, funding accounts, savings accounts and unified trading accounts. 2. Perpetual Swap Trading In order to avoid issued caused by price changes due to the BTT split, OKEx will delist the BTTUSDT and BTTUSD perpetual swaps at 8:00 am UTC on Dec 29, 2021, and trading for these pairs will be stopped. Related orders on the order book will also be cancelled after the delisting. OKEx will deliver all the BTTUSDT and BTTUSD perpetual swap positions at the arithmetic average price of the corresponding OKEx indexes one hour prior to the delisting. If the index prices display abnormalities in the hour preceding the delisting, OKEx may adjust the final delivery price to a reasonable level at the time. The current funding rate at 8:00 am UTC on the day of delisting will be 0 (funding fees for this period will not appear in the billing record). Considering that the market may fluctuate sharply before the contract delisting, users are advised to practice risk-control measures by reducing the actual leverage multiples or closing positions in advance.  Within 30 minutes after the delisting, all users with the classic trading account will be unable to transfer assets from the BTTUSDT and BTTUSD perpetual accounts. Unified Account users who hold positions greater than $10,000 in value in BTT/USDT or BTT/USD perpetual contract at the time of delivery will also be restricted from transferring assets out of their Unified Account. Restrictions on asset transfers will be lifted after 30 minutes. The historical orders and bills can still be queried after the delisting, and the historical data will be retained until the new BTT contracts go live. If you need to backup your data, please download it promptly via the “Report Center” on the web interface. In order to ensure the smooth delivery of BTT/USD and BTT/USDT perpetual contracts during the delisting, the following adjustments are made to the risk control parameter settings: （1）Adjustment of price limit rules The calculation formula of the limit price: Period Highest Price Limit Lowest Price Limit Within 10 minutes of contract generation Index (1+X) Index (1-X) 10 minutes after the contract is generated Min[Max(Index, Index (1+Y)+ Average premium over the past ten minutes), Index (1+Z)] Max[Min(Index, Index (1-Y)+ Average premium over the past ten minutes), Index (1-Z)] Adjusted price limit rules: Time X Y Z 8:00 am UTC on Dec 27 (48 hours before delivery) 2% 2% 5% 7:30 am UTC on Dec 29 (30 minutes before delivery) 1% 1% 2% Note: If there is a deviation from the contract price before then, it will be adjusted according to market conditions. （2）Position Tiers Adjustment: OKEx plans to adjust the BTT/USD and BTT/USDT perpetual position tiers rules at 9:00 am UTC on Dec 28, 2021 The adjusted BTT/USDT perpetual position tiers: Tiers Min. amount Max. amount Maintenance margin ratio Min. initial margin ratio Max. leverage 1 0 200 1.00% 1.30% 75 2 201 500 1.50% 2.00% 50 3 501 1,000 2.00% 5.00% 20 4 1,001 2,000 2.50% 5.50% 18.18 5 Increase by 1,000 conts from the previous tier Increase by 1,000 conts from the previous tier Increase by 0.5% from the previous tier Increase by 0.5% from the previous tier Max. leverage of the tier The adjusted BTT/USD perpetual position tiers: Tiers Min. amount Max. amount Maintenance margin ratio Min. initial margin ratio Max. leverage 1 0 50 1.00% 1.30% 75 2 51 200 1.50% 2.00% 50 3 201 500 2.00% 5.00% 20 4 501 1,000 2.50% 5.50% 18.18 5 Increase by 500 conts from the previous tier Increase by 500 conts from the previous tier Increase by 0.5% from the previous tier Increase by 0.5% from the previous tier Max. leverage of the tier Users' maintenance margin ratio may increase because of tier adjustments and market volatility. To prevent forced liquidations caused by these adjustments, users are encouraged to decrease leverage by either increasing margins or closing positions. （3） Index In order to reasonably control risks and protect the interests of users, during the BTT swap period, if the BTT/USD, BTT/USDT, BTT/BTC index appears to have only one single component, or the price deviates significantly, OKEx may consider adopting other platforms’ spot price (new BTT’s spot price 1000) as the spare index component. 3. Savings After the BTT borrowing functionality is closed, Saving users don’t need to move their assets out. OKEx will handle the split and update. Meanwhile users will continue to earn interest from any other holdings they have in Savings. 4. Follow-up steps (1) After the BTT split is completed users can view their asset balance via the Assets > My Assets > Funding Account menu. (2) If you want to convert BTTOLD to BTT (the old BTT tokens are named BTTOLD here for convenience), please deposit BTTOLD to OKEx before 10:00 am UTC on Jan 13, 2022 so we can handle the conversion for you. (3) Since the real-time price of BTTOLD cannot be obtained through the market terminal anymore, the BTTOLD valuation will no longer be displayed against your account balance. (4) After the BTT split goes into a stable stage, OKEx will announce the BTT deposit and withdrawal time, as well as the opening time of spot, margin and perpetual swap trading services. Regards, OKEx Dec 23, 2021 (UTC)   Click here to download the OKEx mobile app >>> Click here for the official OKEx Twitter account >>> Click here to join the official OKEx Telegram community >>>