Bitfynex Spot Trading System Update Notification

Bitfynex Spot Trading System Update Notification

Dear Bitfynex Community Members,
Bitfynex will perform a scheduled system update, which will begin on 06.03.2021 at 05: 00 (Moscow time). The update will take about one hour.
Trading on Bitfynex Futures and Bitfynex Options will continue unchanged during the update. Trading, subscribing, and redeeming Bitfynex leveraged tokens will be suspended.
During the update period, Bitfynex will suspend the following services:
– Deposit and withdrawal of funds
– Spot and margin trading
– P2P Trading
– Trading on the OTC portal
– Registering new users
– Activating subaccounts
– Subscribing and closing deposits
– Exchange or add/remove liquidity on Bitfynex Liquid Swap
– Adding Assets to Staking or removing them from Launchpool
– Crypto Loan Service
– Bitfynex Card Control Panel and Transactions
– Transfers of assets from subaccounts, margin accounts, futures accounts, pool accounts, and fiat wallets.
Users will have a 30-minute window after the update is complete to cancel orders, process deposits and withdrawals, transfer funds, and use other accounts before resuming trading.
Major improvements in this update:
Overall improvement in system performance and stability.
Please note:
– Users with open positions in futures or margin trading are advised to re-evaluate their assets (used for collateral) prior to the upgrade to reduce price fluctuations that may occur during the upgrade.
– Bitfynex will suspend all transfers, deposits and withdrawals of tokens 10 minutes before the start of the system update. Please make sure that you have enough time left to process transfers, deposit or withdraw tokens before the specified time.
– The one-hour update period is based on our estimates and the final time may vary. As usual, we will keep in regular contact about the progress of the update on our social networks.
Bitfynex Options: Only futures wallets can be used to pay the premium on options. The balances of the spot wallet will not be available for use.
The asset conversion and cross-collateral functions of Bitfynex Futures will be suspended.
The suspension of spot trading will affect the price index of certain USDT-margin perpetual contracts, including ENJUSDT, TOMOUSDT, SXPUSDT, RLCUSDT, RUNEUSDT, BZRXUSDT, OCEANUSDT, BELUSDT, HNTUSDT, CTKUSDT, ALPHAUSDT, AXSUSDT, UNFIUSDT, LITUSDT, BTCSTUSDT, SFPUSDT, and DODOUSDT. During this period, the price index of these contracts will not be updated. We will use the “Last Price Protection” mechanism to update the tag price before resuming spot trading.
We apologize for the inconvenience and thank you for your patience.
Risk Warning: cryptocurrency trading involves high market risk. Please make transactions with extreme caution. Bitfynex makes every effort to select high-quality coins, but is not responsible for the losses you receive as a result of trading.
Thank you for your support!
The Bitfynex Team

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