Announcement Regarding the Merger of Leveraged Token VET3L
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged token VET3L at a ratio of 1,000:1 at 07:30 on March 11, 2022 (UTC).
The arrangement details are as follows:
1. At 07:30 on March 10, 2022 (UTC), we will suspend the subscription and redemption of VET3L. The subscription and redemption orders that have already been applied will not be affected.
2. At 07:30 on March 11, 2022 (UTC), we will suspend the trading of VET3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of VET3L balances in users’ accounts and merge the shares of VET3L at a ratio of 1,000 VET3L = 1 VET3L.
3. At 11:30 on March 11, 2022 (UTC), new VET3L balances will be updated, and we will open the trading for VET3L/USDT. The subscription and redemption functions for VET3L will also be opened at this time.
1. It is recommended for VET3L holders to reassess their holding risk before the start of the merger of VET3L. Users are advised to trade or redeem their VET3L into USDT before the start of merger of VET3L.
2. We will post a further announcement to inform users when trading, subscription, and redemption will resume after the merger of VET3L is completed.
Thanks for your support!
The KuCoin Margin 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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