- OKX will list KMNO with spot trading starting May 30 at 3:00 AM UTC.
- Strict order and price limits apply during early trading to control volatility.
- A one-hour call auction precedes the listing, with $50K user order caps and no last-minute edits.
Cryptocurrency exchange OKX has confirmed the listing of Kamino Finance’s native token, KMNO, for spot trading. According to the official schedule, KMNO/USDT spot trading will start at 3:00 AM UTC on May 30, 2025. The listing will be preceded by a structured rollout that includes deposit access, a controlled call auction period, and defined risk management protocols aimed at limiting volatility during the token’s market debut.
The listing timeline begins with the opening of KMNO deposits on May 29 at 10:00 AM UTC. This will allow users to prepare for the scheduled trading events. Prior to the start of continuous spot trading, OKX will conduct a one-hour call auction starting at 2:00 AM UTC on May 30 and ending at 3:00 AM UTC.
During this auction window, users will be able to place both buy and sell orders at fixed prices. However, the total value of buy orders from a single user cannot exceed $50,000. Additionally, between 2:55 AM and 3:00 AM UTC, the final five minutes of the auction, order cancellations or modifications will not be permitted. These rules are designed to reduce manipulation and create a balanced market opening.
Once spot trading begins at 3:00 AM UTC, users will be able to trade the KMNO/USDT pair, and withdrawals for the token will become available two hours later, at 5:00 AM UTC on May 30.
Initial Trading Restrictions to Stabilize Market Activity
To mitigate risk in the early trading phase, OKX has introduced temporary limits for the first five minutes of spot trading. During this period, market orders will not be allowed. The maximum limit per single order is set at $10,000, and no user may exceed a net position of $10,000. These measures will automatically lift five minutes after the start of trading, allowing unrestricted activity thereafter.
A detailed price control structure will apply to KMNO during its early trading stage. When no stable index price exists, OKX will use closing price-based limits. In the first minute, the highest bid allowed will be the call auction execution price multiplied by a margin defined as (1 + H). No restriction will apply to the minimum ask price. From the second minute onward, the price cap will be the previous minute’s closing price multiplied by (1 + H), maintaining the open ask.
If and when an index price becomes available, the system will shift to index-based constraints. For the next 10 minutes, the bid ceiling will be index × (1 + X), while the ask floor will be index × (1 – X). After this 10-minute window, additional rules apply. The maximum bid will be the lesser of index × (1 + Z) or the greater of the index and index × (1 + Y) plus the average premium over the past two minutes. The minimum ask will be the greater of index × (1 – Z) or the lesser of the index and index × (1 – Y) plus the same average premium.
