KuCoin Will Merge the AXS3S Leverage Token
12/06/2023, 15:24:02
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged token AXS3S.
The details are as follows:
| Date | Leveraged Tokens | Ratio |
| At 07:00 on Dec 12, 2023 (UTC) | AXS3S | 100,000:1 |
1. Suspension of Subscription and Redemption
We will suspend the subscription and redemption of AXS3S at 11:00 on Dec 11, 2023 (UTC), The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Tokens AXS3S
At 07:00 on Dec 12, 2023 (UTC), we will suspend the trading of AXS3S/USDT. All existing trade orders are cancelled. We then take a snapshot of the AXS3S balance in the user's account and combine the AXS3S shares in the ratio of 100,000 AXS3S = 1 AXS3S.
It is expected that the merger of the leveraged token AXS3S will be completed at 11:00 (UTC) on Dec 12, 2023. If the merger is completed ahead of schedule, we will open the trading for AXS3S/USDT. The subscription and redemption functions for AXS3S will also be opened at this time.
If a large price fluctuation occurs, we will postpone the merger accordingly and notify you via the announcement.
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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