Announcement Regarding the Merger of Leveraged Tokens BCH3L and SOL3L| KuCoin

Announcement Regarding the Merger of Leveraged Tokens BCH3L and SOL3L

2022/11/09 9:06:10

Dear KuCoin Users,

To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens BCH3L and SOL3L at a ratio of 100,000:1 at 08:00 on November 10, 2022 (UTC).

The arrangement details are as follows:

1. Suspension of Subscription and Redemption

At 17:30 on November 09, 2022 (UTC), we will suspend the subscription and redemption of BCH3L and SOL3L. The subscription and redemption orders that have already been applied will not be affected.

2. The Merger of Leveraged Tokens BCH3L

At 08:00 on November 10, 2022 (UTC), we will suspend the trading of BCH3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of BCH3L balances in users’ accounts and merge the shares of BCH3L at a ratio of 100,000 BCH3L = 1 BCH3L.

At 10:00 on November 10, 2022 (UTC), new BCH3L balances will be updated, and we will open the trading for BCH3L/USDT. The subscription and redemption functions for BCH3L will also be opened at this time.

3. The Merger of Leveraged Tokens SOL3L

At 10:20 on November 10, 2022 (UTC), we will suspend the trading of SOL3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of SOL3L balances in users’ accounts and merge the shares of SOL3L at a ratio of 100,000 SOL3L = 1 SOL3L.

At 12:20 on November 10, 2022 (UTC), new SOL3L balances will be updated, and we will open the trading for SOL3L/USDT. The subscription and redemption functions for SOL3L 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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