The Merger of Leveraged Token MATIC3S Postponed
01/09/2024, 18:59:24
Dear KuCoin Users,
KuCoin will merge the shares of the leveraged token MATIC3S at a ratio of 100,000:1, and the completion of the merger will be postponed to 08:00 on Jan 10, 2024 (UTC). (The trading of MATIC3S/USDT is available till merge starts.)
The arrangement details are as follows:
1. Suspension of purchase and redemption
At 12:30 on Jan 8, 2024 (UTC), we have suspended the subscription and redemption of MATIC3S. Subscription and redemption orders that have been applied for will not be affected.
2. The Merger of Leveraged Tokens MATIC3S
At 08:00 on Jan 10, 2024 (UTC), we have suspended the trading of MATIC3S/USDT. All existing trade orders are cancelled. We then take a snapshot of the MATIC3S balance in the user's account and combine the MATIC3S shares in the ratio of 100,000 MATIC3S = 1 MATIC3S.
It is expected that the merger of the leveraged token MATIC3S will be completed at 10:00 (UTC) on Jan 10, 2024. If the merger is completed ahead of schedule, we will open the trading for MATIC3S/USDT. The subscription and redemption functions for MATIC3S will also be opened at this time.
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 ofKuCoin 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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