KuCoin Will Merge the SUSHI3L and ORDIDOWN Leverage Tokens
26/07/2024 16:45:06
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens SUSHI3L and ORDIDOWN.
The details are as follows:
| Leveraged Token | Date (UTC) | Ratio |
| SUSHI3L | At 02:00 on July 30, 2024 | 100,000:1 |
| ORDIDOWN | At 02:00 on July 31, 2024 | 100,000:1 |
1. Suspension of Subscription and Trading
We will suspend the subscription and trading of SUSHI3L/USDT at 12:00 on July 29, 2024 (UTC). The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Token SUSHI3L
At 02:00 on July 30, 2024 (UTC), all existing trade orders will be canceled. We will then take a snapshot of the user's SUSHI3L balance and combine the SUSHI3L shares at a ratio of 100,000 SUSHI3L : 1 SUSHI3L.
It is expected that the merger of the leveraged token SUSHI3L will be completed at 05:00 on July 30, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for SUSHI3L/USDT accordingly. The subscription and redemption functions for SUSHI3L will also be opened at this time.
3. Suspension of Subscription and Trading
We will suspend the subscription and trading of ORDIDOWN/USDT at 12:00 on July 30, 2024 (UTC), The subscription and redemption orders that have already been applied will not be affected.
4. The Merger of Leveraged Token ORDIDOWN
At 02:00 on July 31, 2024 (UTC), all existing trade orders will be canceled. We will then take a snapshot of the user's ORDIDOWN balance and combine the ORDIDOWN shares at a ratio of 100,000 ORDIDOWN : 1 ORDIDOWN.
It is expected that the merger of the leveraged token ORDIDOWN will be completed at 05:00 on July 31, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for ORDIDOWN/USDT accordingly. The subscription and redemption functions for ORDIDOWN will also be opened at this time.
Notes:
1. KuCoin is going to adjust the price increment unit (API symbol: PriceIncrement) of SUSHI3L/USDT and ORDIDOWN/USDT after the merger.
| Trading pair | Current price increment | New price increment |
| SUSHI3L/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
| ORDIDOWN/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
2. For API users, please be noted that the adjustments of price increment may result in errors when you place orders. If your trading pair is included in the list above, please adjust parameters properly to ensure the smooth transaction.
Thanks for your support!
TheKuCoinTeam
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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