Introduction
OKX is expanding its trading offerings by announcing the listing of BARD (Lombard), a DeFi initiative that aims to redefine the utility of Bitcoin through its innovative LBTC token. This article covers the crucial details of the listing, trading mechanisms, and what investors can expect as this new asset becomes available for spot trading.
Listing Timeline
Key Dates
- Deposits Start: September 15, 2025, at 12:00 AM UTC
- Call Auction: September 18, 2025, from 10:00 AM to 11:00 AM UTC
- Spot Trading Opens: September 18, 2025, at 11:00 AM UTC
- Withdrawals Open: September 18, 2025, at 2:00 PM UTC
Trading Mechanics and Risk Management
Spot Market Opening Risk Control Rules
OKX has implemented specific trading restrictions during the first five minutes of BARD’s listing to mitigate volatility and protect investors:
- Market Orders: Not allowed during the first five minutes
- Maximum Limit Order Amount: $10,000
- Maximum Net Position per User: $10,000
These restrictions will be lifted after the initial five minutes of trading.
Price Limit Mechanism
To maintain an orderly market, price limits will be enforced until a stable index price is established. The following tables summarize the rules for both closing price-based and index-based calculations:
Closing Price-Based Limits
| Phase | Maximum Bid Price | Minimum Ask Price |
|————————————————–|———————————————–|——————–|
| Within the First Minute of Listing | Call auction’s execution price × (1 + H) | No limit |
| From the 1st to Nth Minute (until index is available) | Previous minute’s closing price × (1 + H) | No limit |
| After Nth Minute (until index is available) | No limit | No limit |
Index-Based Limits
| Phase | Maximum Bid Price | Minimum Ask Price |
|————————————————–|———————————————–|——————–|
| Within the 10 Minutes of Listing | Index × (1 + X) | Index × (1 – X) |
| After the First 10 Minutes of Listing | Various calculations based on prior index and premiums | Various calculations |
Call Auction Mechanism
During the call auction for the BARD/USDT trading pair, buyers and sellers can submit their orders, which will set the indicative price of the asset. Key rules include:
- Total buy orders cannot exceed $50,000
- No cancellations are permitted in the last 5 minutes of the auction
About BARD (Lombard)
Lombard is bringing forth a sleeping giant within the DeFi space by facilitating yield earning opportunities through its liquid staked Bitcoin token, LBTC. This innovative approach provides users with a new way to engage with Bitcoin and explore its potential in decentralized finance.
Asset Details
- Asset Name: Lombard
- Ticker: BARD
- Blockchain: Ethereum Chain (0xf0DB65D17e30a966C2ae6A21f6BBA71cea6e9754)
For updated market prices and trading info, you can check out the official Lombard Price Page.
Conclusion
With the upcoming listing of BARD, OKX positions itself to provide its users with exciting new trading opportunities. Investors are encouraged to prepare for trading by staying aware of the listing timeline and understanding the specific trading mechanisms designed to protect against volatility.