KuCoin Will Merge the MATIC3L and ATOM3L Leverage Tokens
01/25/2024, 14:52:24
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens MATIC3L and ATOM3L.
The details are as follows:
| Date | Leveraged Tokens | Ratio |
| At 07:00 on Jan 30, 2024 (UTC) | MATIC3L | 100,000:1 |
| At 07:00 on Jan 31, 2024 (UTC) | ATOM3L | 100,000:1 |
1. Suspension of Subscription and Redemption
We will suspend the subscription and redemption of MATIC3L at 11:00 on Jan 29, 2024 (UTC), and suspend the subscription and redemption of ATOM3L at 11:00 on Jan 30, 2024 (UTC). The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Tokens MATIC3L
At 07:00 on Jan 30, 2024 (UTC), we will suspend the trading of MATIC3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the MATIC3L balance in the user's account and combine the MATIC3L shares in the ratio of 100,000 MATIC3L = 1 MATIC3L.
It is expected that the merger of the leveraged token MATIC3L will be completed at 11:00 (UTC) on Jan 30, 2024. If the merger is completed ahead of schedule, we will open the trading for MATIC3L/USDT. The subscription and redemption functions for MATIC3L will also be opened at this time.
3. The Merger of Leveraged Tokens ATOM3L
At 07:00 on Jan 31, 2024 (UTC), we will suspend the trading of ATOM3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the ATOM3L balance in the user's account and combine the ATOM3L shares in the ratio of 100,000 ATOM3L = 1 ATOM3L.
It is expected that the merger of the leveraged token ATOM3L will be completed at 11:00 (UTC) on Jan 31, 2024. If the merger is completed ahead of schedule, we will open the trading for ATOM3L/USDT. The subscription and redemption functions for ATOM3L 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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