Binance Futures, a leading cryptocurrency exchange, has announced the closure of certain coin-margined futures contracts for five digital assets: Kyber Network Crystal (KNC), ICON (ICX), Tezos (XTZ), Oasis (ROSE), and ApeCoin (APE). The delisting process will occur on May 20 and 21, with positions being automatically closed and settled.

The affected contracts include KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD. After settlement, positive balances will be transferred to Cross Collateral wallets, while negative balances will undergo an automatic repayment process. Users without a Portfolio Collateral account will have their balances transferred to spot wallets.

In preparation for the delisting, Binance Futures will implement leverage and margin adjustments starting from 13:30 local time on the day of the announcement. Users are advised to adjust their positions and leverages accordingly to avoid potential liquidation risks.

This move is part of Binance Futures' standard practice of taking protective measures to mitigate risks in volatile market conditions. The exchange occasionally makes adjustments to leverage, position value, maintenance margin, funding rate, and price index components without prior notice. The delisting of these coin-margined futures contracts is a routine process to ensure the stability and security of the exchange.