Delivery Instructions

What Are Delivery Instructions?

Delivery Instructions are the operational directions used to complete the transfer of cryptocurrency, payment, or another settlement asset under a physically settled crypto futures, options, forward, or derivatives contract.

They tell the parties, clearing organization, custodian, or settlement provider what must be delivered, where it must be sent, when it must arrive, and how completion will be confirmed.

Crypto delivery instructions may include the digital asset, blockchain network, quantity, wallet address, custody account, settlement date, payment amount, confirmation requirement, and authorized contact details.

They may be created by a clearing organization, custodian, intermediary, contract participant, or automated settlement system.

The phrase is generally an operational description rather than one standardized document used in every cryptocurrency derivatives market.

The controlling instructions are normally found in the contract specifications, clearing rules, custody agreement, account procedures, and settlement notices.

The CFTC futures glossary distinguishes physically delivered contracts from cash-settled contracts and explains the delivery terminology used in derivatives markets.

Delivery instructions are not the same as a delivery notice, although the two may be used during the same settlement process.

A delivery notice announces an intention or obligation to make delivery, while delivery instructions explain how the asset and payment must actually be transferred.

Why Are Delivery Instructions Important in Crypto?

Cryptocurrency transfers can be irreversible after they receive sufficient blockchain confirmation.

A wrong address, incorrect network, unsupported token, or missing destination tag can cause permanent loss or a failed settlement.

Clear delivery instructions reduce uncertainty by identifying the exact asset and approved transfer process.

They also help the receiving party prepare the correct wallet, custody account, funds, personnel, and security approvals.

Crypto derivatives can represent large notional positions, so a small operational mistake may create a substantial financial loss.

Instructions are especially important when a futures position requires physical delivery rather than a cash payment based on a final reference price.

They create a documented record that can be reviewed during reconciliation, dispute resolution, accounting, compliance, and tax reporting.

Delivery instructions cannot guarantee successful settlement because wallets, blockchains, custodians, counterparties, and communication systems can still fail.

What Information Do Delivery Instructions Contain?

Delivery instructions should identify the futures, options, forward, or other derivatives contract being settled.

They should state the contract month, transaction identifier, account number, position quantity, and applicable settlement date.

The instructions should identify the precise cryptocurrency or token required for delivery.

They should specify the blockchain network rather than relying only on the asset’s name or ticker symbol.

The required quantity should include the correct number of decimal places and any applicable rounding method.

The instructions may provide an approved wallet address, custody account, vault identifier, or internal settlement account.

A destination memo, tag, reference number, or payment identifier should be included when the receiving system requires one.

The instructions may state who is responsible for blockchain transaction fees and whether the delivered quantity must be net or gross of those fees.

They should explain how many blockchain confirmations or what form of custodial acknowledgment is required for completion.

They may also identify the conventional currency, stable-value asset, or other consideration that the receiving party must provide.

Delivery Instructions Versus a Delivery Notice

A delivery notice is a formal statement that the holder of a short futures position intends to make delivery.

Delivery instructions provide the practical details needed to complete that delivery.

The notice may identify the contract, quantity, and intended delivery date without containing every wallet or custody detail.

Separate delivery instructions may then tell the parties which account to use, which network is approved, and when funds must be available.

The clearing organization may issue or validate the instructions after assigning the delivery notice to an eligible long position.

Submitting a delivery notice does not remove the need to comply with all operational delivery instructions.

A valid notice followed by an incorrect blockchain transfer can still produce a settlement failure.

Delivery Instructions Versus a Delivery Notice Period

The delivery notice period is the window during which eligible short positions can submit notices of intent to deliver.

Delivery instructions are the directions used to carry out the transfer after or during that process.

The instructions may be distributed before first notice day so that participants can prepare their accounts.

Final wallet or payment details may be provided after an assignment has been made.

The timing depends on the contract, clearing organization, custodian, and settlement method.

Delivery Instructions Versus Settlement Instructions

Delivery instructions and settlement instructions are sometimes used as overlapping terms.

Settlement instructions can be broader because they may cover both the asset transfer and the related payment.

Delivery instructions may focus mainly on the cryptocurrency, commodity, or delivery instrument being transferred.

One document can contain both sets of information.

The document title is less important than the obligations defined in the contract and clearing rules.

Participants should review every instruction rather than assuming that a form labeled delivery instructions contains all payment requirements.

Delivery Instructions Versus Wallet Withdrawal Instructions

Wallet withdrawal instructions tell a service or custodian where a user wants cryptocurrency sent.

Derivatives delivery instructions are connected with a contractual settlement obligation.

A normal withdrawal may be voluntary, while a delivery transfer may be required by an expiring physically settled position.

A delivery wallet may need to satisfy special eligibility, ownership, screening, or custody requirements.

A personal withdrawal address is not automatically an approved delivery address.

Users should not substitute an ordinary saved wallet address for the address specified through the settlement process.

When Are Delivery Instructions Used?

Delivery instructions are commonly used when an expiring crypto futures contract requires physical settlement.

They may also be used for physically settled options, bilateral forwards, swaps, structured products, tokenized agreements, or institutional cryptocurrency transactions.

Instructions can be issued before the delivery date so that both sides can prepare.

They may become binding after a delivery notice is accepted or an assignment is completed.

Some systems require standing instructions to be registered when the account is opened.

Other systems request transaction-specific instructions for each delivery.

Participants should confirm whether standing instructions remain valid after an account, wallet, network, or custodian changes.

Physically Settled Crypto Derivatives

A physically settled crypto derivative requires the transfer of the specified digital asset instead of only a financial adjustment.

The short side generally provides the cryptocurrency, while the long side provides the required payment.

The contract specifies the quantity represented by each contract and the form of asset eligible for delivery.

The federal guidance for physically delivered futures contracts emphasizes reliable delivery procedures and adequate deliverable supply.

Crypto delivery instructions translate these contract terms into practical settlement steps.

A participant may need to establish custody access, complete identity checks, register wallet addresses, and deposit assets before delivery begins.

Cash-Settled Crypto Derivatives

A cash-settled crypto derivative normally does not require the underlying cryptocurrency to change hands.

The final profit or loss is calculated from a contract-defined settlement price.

The account is credited or debited in the approved settlement currency or asset.

Cash-settled contracts therefore do not normally require blockchain delivery instructions for the underlying cryptocurrency.

They may still require payment instructions, bank details, custody accounts, or internal ledger information.

Cash settlement also creates benchmark risk because the final result depends on the accuracy and integrity of the settlement price.

Perpetual Contracts

A true perpetual contract has no fixed expiration date and normally does not mature into scheduled physical delivery.

It usually remains open until the trader closes the position or the position is liquidated.

Funding payments are commonly used to maintain a relationship between the perpetual price and an underlying reference market.

Because there is no ordinary maturity date, a perpetual contract generally does not require standard delivery instructions.

Withdrawals of collateral after closing the position are separate from physical futures delivery.

The actual product specification should always be checked because a marketing label does not determine the legal settlement structure.

Who Provides Delivery Instructions?

The clearing organization may issue standardized delivery instructions for contracts cleared through its system.

A custodian may provide approved account details and transfer procedures.

An intermediary may collect instructions from its customer and submit them through the clearing process.

The long position holder may provide the approved account into which cryptocurrency should be delivered.

The short position holder may provide information about the account from which delivery will be made.

A bilateral contract may require both parties to exchange signed settlement instructions directly or through an agent.

No party should rely on instructions received through an unverified personal message or unexpected social media account.

Who Must Follow the Instructions?

The short must follow the asset-delivery instructions.

The long must follow the payment and receiving-account instructions.

Clearing members and custodians must process the settlement according to their operational roles.

Authorized employees must follow approval, security, reconciliation, and recordkeeping procedures.

A blockchain transfer performed by a third-party custodian can still remain the legal responsibility of the contract participant.

Outsourcing the technical transfer does not necessarily remove contractual liability for failed delivery.

Blockchain Network Selection

Delivery instructions must identify the correct blockchain network.

The same token name or address format can exist on several networks.

Sending the correct token through the wrong network may fail to satisfy the contract.

The receiving system may be unable or unwilling to recover an unsupported transfer.

Instructions should name the network clearly and may include the approved token contract address when relevant.

Network selection should be verified independently before the transaction is signed.

A small test transfer can reduce operational risk when the settlement rules and deadline permit it.

Wallet Address Verification

A cryptocurrency wallet address should be verified through an authorized and independent communication channel.

The sender should compare the complete address rather than checking only the first and last characters.

Clipboard-replacement malware can substitute an attacker’s address after the legitimate address is copied.

An allowlisted address can reduce risk when it was enrolled through a secure process.

Address allowlisting does not help when the original enrollment was compromised.

High-value delivery systems may require two employees to verify and approve an address.

The instructions should state whether addresses can be changed and what authentication is required for a change.

Destination Tags and Memos

Some cryptocurrency custody systems use one wallet address for many customers.

A destination tag, memo, or reference number identifies the correct internal account.

Sending funds without the required identifier can delay crediting even when the blockchain transaction succeeds.

The delivery instructions should state whether an additional identifier is mandatory.

The identifier should be copied and independently verified with the wallet address.

A transfer missing a tag or memo may require a manual recovery process that is not guaranteed.

Contract Address Verification

A token delivered through a smart contract network may have several assets with similar names and symbols.

The delivery instructions may specify the exact token contract address.

The sender should verify that the token balance belongs to the approved contract before transferring it.

A counterfeit token with the same name does not satisfy delivery.

Token decimals should also be checked because an incorrect decimal assumption can create an underpayment or overpayment.

Custodial Book-Entry Delivery

Some crypto deliveries are completed through an approved custodian rather than a public blockchain transfer.

The custodian debits the seller’s account and credits the buyer’s account internally.

This process can be faster and may avoid blockchain transaction fees.

It can also reduce address-entry mistakes.

The parties remain dependent on the custodian’s records, security, solvency, and withdrawal controls.

Delivery instructions should identify the custody accounts, required authorization, cutoff times, and status confirmations.

An internal account credit should be reconciled with the futures settlement statement.

Onchain Delivery

Onchain delivery transfers cryptocurrency through a transaction recorded on the blockchain.

The transaction normally includes a sender address, recipient address, asset, amount, fee, and cryptographic signature.

The transaction identifier can be used to monitor confirmation and support reconciliation.

The existence of a transaction identifier does not guarantee that the correct asset reached the correct approved account.

Participants must verify the network, token, quantity, destination, status, and required confirmation count.

Blockchain Confirmations and Finality

A blockchain transaction can appear before it becomes sufficiently final for settlement purposes.

Delivery instructions may require a minimum number of confirmations.

Some networks use probabilistic finality, while others provide a defined finalization event through their consensus process.

The clearing or custody system decides when the transfer is considered complete under its rules.

A transfer that arrives before the deadline but remains unconfirmed may not satisfy delivery.

Participants should account for congestion and send the transaction early enough to meet the confirmation requirement.

Network Fees

Blockchain transactions normally require a network fee.

The delivery instructions should state whether the seller must deliver the full contractual quantity in addition to paying the fee.

Deducting the fee from the required quantity may create an underdelivery.

Network fees can rise rapidly during congestion.

A transaction using an insufficient fee may remain pending beyond the settlement deadline.

Fee estimation should be completed near the transfer time while preserving a sufficient operational buffer.

Delivery Quantity and Contract Multipliers

The futures contract multiplier determines how much cryptocurrency each contract represents.

The total delivery quantity equals the number of contracts multiplied by the deliverable amount per contract.

For example, five contracts representing 0.20 units each create a delivery obligation of one unit.

The instructions should state how fractional quantities and rounding are handled.

Incorrectly reading the multiplier can produce a major delivery shortage.

The quantity should be reconciled against the open position and the clearing statement before transfer.

Payment Instructions

Physical delivery normally requires payment from the long side.

The payment instructions may identify the settlement currency, amount, account, deadline, and reference information.

The payment can be much larger than the margin originally deposited for the futures position.

Margin is collateral supporting market exposure, while the invoice amount pays for the delivered asset.

The long should confirm whether payment must be made through conventional banking channels, a custody balance, a stable-value asset, or another approved method.

Payment to an unauthorized account may fail to discharge the contractual obligation.

Invoice Price

The invoice price is the price used to calculate the amount owed for the delivered cryptocurrency.

It may be based on a futures settlement price, final delivery price, contract quantity, and contract-specific adjustments.

The instructions should identify the pricing date and calculation method.

Transaction fees, custody charges, and delivery penalties may be added separately.

The invoice amount should be checked independently by the long, short, clearing member, and settlement provider.

Delivery Deadlines and Cutoff Times

Delivery instructions should state exact dates, times, and time zones.

Crypto spot markets operate continuously, but clearing and custody procedures can still use business-day deadlines.

A transfer sent after a daily cutoff may be processed on the next eligible day.

Blockchain congestion does not automatically extend a contractual deadline.

An intermediary may impose an earlier deadline than the official clearing schedule.

Participants should plan around the earliest applicable deadline rather than the latest possible one.

Standing Delivery Instructions

Standing delivery instructions are account details registered for repeated future settlements.

They can reduce manual data entry and speed up routine transfers.

Standing instructions should be reviewed regularly to confirm that the wallet, custodian, network, and authorized contacts remain valid.

They should be suspended immediately after a key compromise, account closure, ownership change, or custody migration.

A request to replace standing instructions should receive enhanced verification because settlement redirection is a common fraud method.

Changing Delivery Instructions

A party may need to change instructions because of a wallet migration, custody problem, network disruption, or account update.

The governing rules should state whether changes are permitted after assignment or notice submission.

A change may require written authorization, identity verification, multiple approvals, and confirmation through an independent channel.

Last-minute changes create greater fraud and operational risk.

A message claiming that an address has changed should not be trusted solely because it appears in an existing email conversation.

Compromised email accounts can be used to insert fraudulent settlement details.

Can Delivery Instructions Be Canceled?

Instructions may be canceled or replaced only when the contract and settlement procedures permit it.

Cancellation of instructions does not necessarily cancel the underlying delivery obligation.

The participant may still need to submit corrected instructions before the deadline.

Once an onchain transaction is confirmed, changing the instructions cannot reverse the completed transfer.

Participants should understand the difference between canceling an operational instruction and closing a futures position.

Forks, Upgrades, and Airdrops

A blockchain fork or protocol upgrade can create uncertainty about which asset qualifies for delivery.

The instructions should identify the recognized blockchain and asset version.

The contract rules should explain how airdrops, forked tokens, staking rewards, and similar benefits are treated.

A futures buyer does not automatically gain rights to every distribution associated with direct ownership.

A serious network event may activate disruption, delay, or alternative-settlement procedures.

Blockchain Outages and Congestion

A blockchain can experience delayed blocks, validator problems, transaction congestion, or a temporary halt.

A wallet or custodian can also become unavailable even when the blockchain continues operating.

The delivery instructions should identify emergency contacts and backup procedures.

The clearing rules may permit delayed settlement, alternative delivery, or cash settlement during specified disruption events.

These remedies are contract-specific and should not be assumed.

Delivery Failure

A delivery failure occurs when the required cryptocurrency, payment, or valid documentation is not provided by the deadline.

Sending the wrong asset, wrong quantity, or wrong network can constitute a failure.

An unconfirmed blockchain transaction may also fail to meet the settlement requirements.

The clearing organization may use collateral, acquire replacement assets, liquidate positions, impose penalties, or suspend the participant.

The CFTC’s market-surveillance materials note that physically delivered contracts require close monitoring as they approach expiration because limited deliverable supply can increase manipulation risk.

A participant can remain liable for settlement even when cryptocurrency sent incorrectly cannot be recovered.

Force Majeure and Emergency Procedures

Force majeure provisions address extraordinary events that may prevent normal contractual performance.

Possible crypto events include a prolonged blockchain outage, network attack, government transfer restriction, protocol failure, or custody shutdown.

The clearing organization may have authority to delay delivery, modify procedures, select an alternative asset, or calculate a cash settlement.

An event does not automatically qualify as force majeure merely because delivery becomes expensive or difficult.

The applicable contract and rulebook determine whether emergency relief is available.

Security Controls for Delivery Instructions

Crypto delivery instructions should be protected as sensitive financial information.

Access should be restricted to authorized personnel.

High-value transactions should require approval from more than one person.

Wallet addresses can be placed on an allowlist after secure verification.

Private keys should be stored in hardware security modules, dedicated signing devices, or another protected signing environment.

The NIST key-management guidance emphasizes protecting cryptographic keys throughout their creation, storage, use, backup, recovery, and destruction.

Delivery instructions should never contain private keys, seed phrases, or wallet recovery information.

Phishing and Instruction-Redirection Fraud

Attackers may impersonate clearing staff, custodians, lawyers, or operations employees to replace legitimate delivery instructions.

A fraudulent message may claim that a wallet address changed because of maintenance or a security emergency.

The request may create urgency and discourage independent verification.

The CISA phishing guidance recommends treating urgent requests for credentials or payments with caution and verifying them through trusted channels.

Every new or changed delivery address should be confirmed using contact information already held on file.

Users should not call a phone number supplied only in the suspicious message.

Test Transactions

A small test transaction can help confirm the network, wallet address, token, memo, and custody account.

The test should use the same asset and network intended for final delivery.

The receiving party should confirm successful credit before the larger transfer is signed.

A test transfer does not guarantee that malware will not replace the address in a later transaction.

The final transfer details must still be verified independently.

A test should be performed only when the contract timeline and settlement procedures allow it.

Reconciliation

Reconciliation compares the delivery instructions with blockchain records, custody statements, clearing reports, and account balances.

The settlement team should confirm the asset, quantity, address, transaction identifier, timestamp, fee, and confirmation status.

The payment amount should be compared with the invoice and futures position.

Any mismatch should be investigated before the settlement is marked complete.

Accurate reconciliation helps identify duplicate transfers, shortages, wrong assets, and accounting errors.

Recordkeeping

Participants should preserve delivery instructions, notices, invoices, approvals, transaction identifiers, custody confirmations, and settlement statements.

Records should show who created, reviewed, changed, and approved the instructions.

Version control is important when several sets of instructions were exchanged.

Communications should be retained according to applicable legal, regulatory, tax, and business requirements.

Blockchain data alone may not show the contractual purpose, invoice calculation, owner, or authorized decision behind a transfer.

Privacy Considerations

Delivery instructions may contain names, account identifiers, wallet addresses, balances, contact details, and transaction information.

Wallet addresses can allow outsiders to study public blockchain activity associated with the account.

Instructions should be shared only with people and systems that require them.

Documents should be encrypted during storage and transmission when appropriate.

Sensitive personal information should not be written permanently to a public blockchain.

Regulatory Considerations

The regulation of delivery depends on the contract, digital asset, intermediary, participant, and jurisdiction.

Physically settled futures must use delivery terms that support an orderly settlement process and reduce manipulation risk.

Custody, customer-property, anti-money-laundering, sanctions, commodities, securities, payment, and tax rules may also apply.

The CFTC’s economic requirements for futures contracts distinguish the information needed to evaluate physical-delivery and cash-settled products.

Using a blockchain does not remove legal obligations that apply to the underlying derivatives transaction.

Participants should obtain current advice for the jurisdictions involved in the trade and settlement.

Delivery Instructions and Actual Delivery

Actual delivery can also be a legal concept used for certain leveraged retail digital-asset transactions.

This concept is different from the delivery instructions used to settle a physically delivered futures contract.

In December 2025, the CFTC withdrew earlier virtual-currency actual-delivery guidance because of developments in digital-asset markets.

The withdrawal did not eliminate contract-specific delivery instructions for physically settled derivatives.

Participants should distinguish legal actual-delivery analysis from operational wallet and settlement directions.

Tax and Accounting Considerations

Physical receipt of cryptocurrency through a derivatives settlement may affect tax basis, income, gains, losses, and financial accounting.

The futures position and the acquired digital asset may require separate records.

Fees, invoice value, settlement date, and later disposal of the cryptocurrency can affect reporting.

The IRS digital asset guidance states that digital-asset income and transactions may need to be reported.

Current U.S. broker-reporting rules also require Form 1099-DA reporting for specified digital-asset transactions beginning with applicable transactions from January 1, 2025.

Tax treatment can differ according to the product, taxpayer, business activity, and jurisdiction.

Delivery instructions and settlement records should therefore be retained with other tax documentation.

Operational Checklist for Crypto Delivery Instructions

Confirm that the contract requires physical delivery rather than cash settlement.

Verify the contract month, number of contracts, multiplier, asset, quantity, and invoice amount.

Record the notice, assignment, payment, transfer, confirmation, and final settlement deadlines.

Check the intermediary’s deadline because it may occur before the official contract deadline.

Verify the blockchain network and token contract address when applicable.

Confirm the complete wallet address, custody account, memo, tag, and reference information.

Determine who pays blockchain, custody, and settlement fees.

Check the required blockchain confirmations or custodial acknowledgment.

Confirm that sufficient cryptocurrency or payment funds are available.

Use independent approval for every new or changed instruction.

Preserve the final instructions, approvals, transaction identifier, invoice, and completion notice.

Advantages of Clear Delivery Instructions

Clear instructions reduce the chance of sending cryptocurrency through the wrong blockchain.

They identify the exact asset, quantity, destination, deadline, and completion standard.

They help custodians, clearing members, and traders coordinate large settlements.

They create an audit trail for disputes, accounting, security reviews, and tax reporting.

They can support automated settlement when data fields and approval rules are standardized.

They also make responsibility clearer when a transfer is delayed or rejected.

Limitations of Delivery Instructions

Instructions cannot prevent a participant from entering incorrect information.

They cannot reverse an irreversible blockchain transfer.

They cannot guarantee blockchain availability, custodian solvency, sufficient liquidity, or counterparty performance.

Standing instructions can become outdated or compromised.

Different contracts and custodians may use incompatible formats and deadlines.

Emergency rule changes can replace previously issued procedures.

Correct operational instructions do not remove the market and financial risks of the underlying derivatives position.

Frequently Asked Questions

What are Delivery Instructions in simple terms?

They are directions explaining what cryptocurrency must be delivered, where it must be sent, when it is due, and how settlement will be confirmed.

Are Delivery Instructions the same as a delivery notice?

No, a delivery notice announces an intention to deliver, while delivery instructions explain how the transfer must be completed.

Who issues crypto delivery instructions?

They may be issued by a clearing organization, custodian, intermediary, settlement agent, or contract participant.

Who follows the delivery instructions?

The short, long, clearing members, custodians, and other authorized settlement parties follow the portions relevant to their obligations.

Do all crypto futures require delivery instructions?

No, cash-settled futures do not normally require delivery of the underlying cryptocurrency.

Do perpetual contracts use delivery instructions?

Ordinary perpetual contracts generally do not because they lack scheduled physical delivery at expiration.

What asset information should the instructions contain?

They should identify the exact cryptocurrency, blockchain network, token contract address when relevant, quantity, and decimal format.

Why must the blockchain network be specified?

The same asset name or address format can exist on several networks, and a wrong-network transfer may be unrecoverable.

What is a delivery wallet address?

It is the approved blockchain address into which the contract’s deliverable cryptocurrency must be transferred.

Can I use any personal wallet address?

No, the settlement rules may require an approved wallet or custodial account.

What is a destination tag or memo?

It is an additional identifier used by some custody systems to credit a shared wallet deposit to the correct customer account.

What happens if I forget the destination tag?

The cryptocurrency may reach the main wallet without being credited correctly, and recovery may require a delayed manual process.

How should a wallet address be verified?

It should be confirmed through an authorized independent channel and compared completely before signing the transfer.

Can clipboard malware change a delivery address?

Yes, malware can replace a copied address with an attacker-controlled address.

Should I send a test transaction?

A small test can reduce risk when the contract rules and settlement deadline permit it.

Does a successful test guarantee the final transfer is safe?

No, the final transaction must still be checked because the address or device can be compromised later.

How many blockchain confirmations are required?

The required number depends on the network, custodian, clearing system, contract, and transfer size.

Who pays the blockchain transaction fee?

The delivery instructions or contract rules should identify the responsible party.

Can the transaction fee be deducted from the delivery quantity?

Only when the contract permits it, because otherwise the recipient may receive less than the required amount.

What is custodial book-entry delivery?

It is an internal transfer between accounts held by the same approved custodian without a separate public blockchain transaction.

Is custodial delivery risk-free?

No, users remain exposed to the custodian’s security, accounting, withdrawal, operational, and insolvency risks.

What is onchain delivery?

It is the transfer of the deliverable cryptocurrency through a transaction recorded on its blockchain.

What is the invoice price?

It is the contract-defined price used to calculate the payment owed for the delivered cryptocurrency.

Is futures margin enough to pay for delivery?

Not necessarily, because the long may need to provide the complete invoice amount.

Can delivery instructions be changed?

They may be changed only according to the applicable authentication, approval, and deadline procedures.

Can instructions be changed after a delivery notice?

Possibly, but late changes may be restricted and require approval from the clearing or settlement system.

Can delivery instructions be canceled?

Operational instructions may sometimes be canceled, but the underlying delivery obligation can remain in force.

Can a confirmed crypto transfer be canceled?

Blockchain transactions are generally irreversible after sufficient confirmation.

What happens if I send the wrong token?

The transfer may not satisfy delivery and the incorrectly sent asset may be difficult or impossible to recover.

What happens if I send through the wrong blockchain?

The receiving system may not support the transfer, and the delivery obligation may remain unpaid.

What happens during blockchain congestion?

The transfer may confirm too late, causing delayed settlement or a delivery failure under the contract rules.

What happens during a blockchain fork?

The contract determines the recognized network, eligible asset, and treatment of forked tokens.

Do delivery instructions include airdrop rights?

They may refer to applicable rules, but futures ownership does not automatically provide a right to every airdrop.

What is a standing delivery instruction?

It is a previously registered account or wallet instruction used for repeated settlements.

Are standing instructions always safe?

No, they can become outdated, compromised, or invalid after a wallet or custody change.

What is delivery failure?

It is the failure to provide the required asset, payment, documentation, or valid instructions by the deadline.

What penalties can follow a delivery failure?

Possible consequences include collateral use, replacement purchases, forced liquidation, fees, suspension, or default action.

Will settlement staff ask for my seed phrase?

No legitimate delivery instruction requires a private key or wallet recovery phrase.

How can I detect fake delivery instructions?

Warning signs include unexpected address changes, urgent payment requests, unfamiliar contacts, altered domains, and requests for secret wallet information.

Are delivery instructions private?

They may contain sensitive account and wallet information and should be shared only with authorized parties.

Do crypto delivery instructions affect taxes?

The completed delivery, futures settlement, acquired asset basis, fees, and later disposal can create accounting and tax consequences.

What should I check before approving delivery?

Check the contract, asset, network, quantity, wallet, memo, payment, deadline, fees, confirmations, and independent approvals.

Conclusion

Delivery Instructions are the practical directions used to complete physical settlement of a cryptocurrency derivatives obligation.

They identify the asset, blockchain, quantity, destination, payment method, deadline, fees, and confirmation requirements.

They are different from a delivery notice, which formally announces that an eligible short position intends to deliver.

Cash-settled futures normally do not require delivery of the underlying cryptocurrency, while physically settled contracts do.

Ordinary perpetual contracts also generally do not use scheduled delivery instructions because they have no fixed expiration date.

Crypto delivery can occur through a public blockchain transaction or an internal transfer between approved custody accounts.

Onchain transfers require careful verification of the network, token contract, address, memo, quantity, fee, and confirmation status.

Custodial transfers require confidence in account records, authorization controls, security, withdrawal access, and reconciliation.

Changed delivery instructions should receive enhanced verification because payment-redirection and wallet-substitution fraud can cause irreversible losses.

Participants should never provide private keys or recovery phrases through settlement documents or support communications.

Clear instructions reduce operational risk, but they cannot eliminate blockchain outages, custody failures, counterparty defaults, fraud, or market risk.

The contract specifications, clearing rules, custody procedures, and applicable deadlines remain the controlling sources for every crypto delivery.