KuCoin Will Merge the VET3L Leverage Token
11/04/2024, 17:48:01
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged token VET3L at 08:00 on November 8, 2024 (UTC).
The details are as follows:
| Leveraged Token | Ratio |
| VET3L | 100,000:1 |
1. Suspension of Subscription and Trading
We will suspend the subscription and trading of VET3L/USDT at 12:00 on November 7, 2024 (UTC), The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Token VET3L
At 08:00 on November 8, 2024 (UTC), all existing trade orders were canceled. We then take a snapshot of the VET3L balance in the user's account and combine the VET3L shares in the ratio of 100,000 VET3L = 1 VET3L.
It is expected that the merger of the leveraged token VET3L will be completed at 09:00 on November 8, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for VET3L/USDT accordingly. The subscription and redemption functions for VET3L will also be opened at this time.
Notes:
1. KuCoin is going to adjust the price increment unit (API symbol: priceIncrement) of VET3L/USDT after the merger.
| Trading pair | Current price increment | New price increment |
| VET3L/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
2. For API users, please be noted that the adjustments of price increment may result in errors when you place orders. If your trading pair is included in the list above, please adjust parameters properly to ensure the smooth transaction.
Thanks for your support!
The KuCoin Team
Risk Warning：Leveraged Tokens investment (trade) is a risky one. By trading KuCoin Leveraged Tokens or using related services of KuCoin Leverage Tokens, you are deemed to have fully understood the risks of KuCoin Leveraged Tokens and agreed to assume all responsibilities of all and related trading or non-trading behaviours involved in your KuCoin account. KuCoin will not be liable to you for any loss that might arise from your use of Leveraged Tokens.
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