Dear KuCoin Users,
Because of the large price fluctuation, KuCoin will postpone the merger of the leveraged token MANA3L at a ratio of 100,000:1 until 06:30 on December 1, 2022 (UTC). The subscription and redemption functions for MANA3L have be opened.
The arrangement details are as follows:
1. Suspension of Subscription and Redemption
At 09:00 on November 30, 2022 (UTC), we will suspend the subscription and redemption of MANA3L. The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Token MANA3L
At 06:30 on December 1, 2022 (UTC), we will suspend the trading of MANA3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of MANA3L balances in users’ accounts and merge the shares of MANA3L at a ratio of 100,000 MANA3L = 1 MANA3L.
At 08:30 on December 1, 2022 (UTC), new MANA3L balances will be updated, and we will open the trading for MANA3L/USDT. The subscription and redemption functions for MANA3L will also be opened at this time.
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.
Thanks for your support!
The KuCoin Team
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