Margin and Leveraged Tokens Services of LUNA Temporarily Closed
Dear KuCoin Users,
To enhance users’ experience in Margin, KuCoin will temporarily close the Margin and Leveraged Tokens services of LUNA.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer LUNA from Cross Margin account and Isolated Margin account to other accounts in advance.
1. The borrowing services of LUNA and the closure of the function of transferring LUNA into the Cross Margin account or the Isolated Margin account have temporarily closed (the function of transferring LUNA out from Margin accounts is not affected).
2. At 07:00:00 on May 13, 2022 (UTC), the closure of LUNA/USDT, LUNA/BTC Margin trading services, LUNA lending and borrowing services, and repayment of the loans will take place. If users have LUNA loans or LUNA assets in Margin accounts, the system will cancel all open orders of LUNA, activate the liquidation process to close the positions, and repay all loans before transferring all LUNA in the Cross Margin account and all assets of LUNA/USDT and LUNA/BTC Isolated Margin accounts left out to the Main account.
*To avoid asset losses, it is recommended to control the debt ratio and transfer LUNA assets out from Margin accounts in advance!
Leveraged Tokens details:
At 05:00:00 on May 13, 2022 (UTC), KuCoin will close the trading service and subscription of LUNA3L/USDT and LUNA3S/USDT. All trade orders will be automatically removed after that. Redemption service will continue to be available till a later time. A separate announcement will be posted.
*Please redeem the tokens via the wallet function or the Leverage Tokens page after trading ceases.
We apologize for any inconvenience caused and appreciate your patience.
Thanks for your support!
The KuCoin Team