A holder with STG in a KuCoin spot wallet and a trader with an STGUSDT perpetual position face different outcomes under the Stargate Finance-to-LayerZero migration. One is waiting for a token conversion. The other faces a scheduled derivatives settlement at an exchange-calculated index price. Mixing up the two can be expensive.
KuCoin's October 9 token-merger notice says eligible STG balances will be converted automatically at 1 STG = 0.08634 ZRO. It also sets an October 10 timetable for closing the old token's markets and withdrawal route. A separate futures notice published October 8 governs leveraged positions.
05:00 — STG trading bots, including futures bots
- October 10 deadline (UTC):05:00
- KuCoin service: STG trading bots, including futures bots
- Scheduled action: Bot services end; remaining bots may be closed automatically
06:00 — STGUSDT futures copy trading
- October 10 deadline (UTC):06:00
- KuCoin service: STGUSDT futures copy trading
- Scheduled action: Copy-trading service and related positions are closed under its notice
06:50 — STGUSDT perpetual
- October 10 deadline (UTC):06:50
- KuCoin service: STGUSDT perpetual
- Scheduled action: Opening new positions stops; closing remains permitted
07:00 — STGUSDT perpetual
- October 10 deadline (UTC):07:00
- KuCoin service: STGUSDT perpetual
- Scheduled action: Contract is delisted and remaining positions are settled
09:00 — STG spot trading
- October 10 deadline (UTC):09:00
- KuCoin service: STG spot trading
- Scheduled action: Spot trading ends and remaining orders are canceled
10:00 — STG withdrawals
- October 10 deadline (UTC):10:00
- KuCoin service: STG withdrawals
- Scheduled action: Old-token withdrawals are disabled
These were scheduled deadlines in the published announcements, not a confirmation that every closure and final ZRO credit had already taken place. KuCoin said STG deposits were already disabled and that it would publish a separate announcement when the conversion was complete.
The perpetual contract is not part of the token swap
KuCoin's futures announcement specifies settlement at the average index price over the final 30 minutes before its 07:00 UTC delisting. Its mark-price formula shifts toward that running average during the last half-hour, with an initial 180-second smoothing transition. A trader cannot assume a futures position will be replaced by ZRO at the spot-holder conversion ratio.
For spot holders, the arithmetic is different. Under the announced terms, 1,000 STG converts to 86.34 ZRO, subject to the exchange's eligibility and account processing. That ratio defines units received, not the future market value of the position. KuCoin says existing ZRO trading, deposits and withdrawals are unaffected by the STG cutoff.
The distinction extends across exchanges. Binance announced completion of its global STG-to-ZRO distribution on October 7, using the same ratio. But the Binance UK notice explicitly says its UK platform does not support the automatic merger and describes a different old-token withdrawal arrangement. The customers actual platform and region determine which instructions apply.
If you hold STG on KuCoin, the important follow-up is the exchange's confirmation of completed ZRO credits in your account history. If you have a derivatives position, check the futures settlement record instead. And if anyone sends a link to a “manual migration” portal asking for your recovery phrase, it is not part of either exchange's published conversion procedure.
