KuCoin Will Merge the PEPEDOWN, INJDOWN, FTM3S and GMT3S Leverage Tokens
22/10/2024 15:42:08
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens PEPEDOWN, INJDOWN, FTM3S and GMT3S.
The details are as follows:
| Leveraged Token | Date (UTC) | Ratio |
| PEPEDOWN | At 02:00 on October 28, 2024 | 100,000:1 |
| INJDOWN | At 02:00 on October 28, 2024 | 100,000:1 |
| FTM3S | At 02:00 on October 29, 2024 | 100,000:1 |
| GMT3S | At 02:00 on October 29, 2024 | 100,000:1 |
1. Suspension of Subscription and Trading
We will suspend the subscription and trading of PEPEDOWN/USDT and INJDOWN/USDT at 12:00 on October 27, 2024 (UTC). The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Token PEPEDOWN and INJDOWN
At 02:00 on October 28, 2024 (UTC), all existing trade orders will be canceled. We will then take a snapshot of the user's PEPEDOWN and INJDOWN balance and combine the PEPEDOWN and INJDOWN shares at a ratio of 100,000 PEPEDOWN : 1 PEPEDOWN and 100,000 INJDOWN : 1 INJDOWN.
It is expected that the merger of the leveraged token PEPEDOWN and INJDOWN will be completed at 10:00 on October 28, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for PEPEDOWN/USDT and INJDOWN/USDT accordingly. The subscription and redemption functions for PEPEDOWN and INJDOWN will also be opened at this time.
3. Suspension of Subscription and Trading
We will suspend the subscription and trading of FTM3S/USDT and GMT3S/USDT at 12:00 on October 28, 2024 (UTC), The subscription and redemption orders that have already been applied will not be affected.
4. The Merger of Leveraged Token FTM3S and GMT3S
At 02:00 on October 29, 2024 (UTC), all existing trade orders will be canceled. We will then take a snapshot of the user's FTM3S and GMT3S balance and combine the FTM3S and GMT3S shares at a ratio of 100,000 FTM3S : 1 FTM3S and 100,000 GMT3S : 1 GMT3S.
It is expected that the merger of the leveraged token FTM3S and GMT3S will be completed at 10:00 on October 29, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for FTM3S/USDT and GMT3S/USDT accordingly. The subscription and redemption functions for FTM3S and GMT3S will also be opened at this time.
Notes:
1. KuCoin is going to adjust the price increment unit (API symbol: PriceIncrement) of PEPEDOWN/USDT, INJDOWN/USDT, FTM3S/USDT and GMT3S/USDT after the merger.
| Trading pair | Current price increment | New price increment |
| PEPEDOWN/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
| INJDOWN/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
| FTM3S/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
| GMT3S/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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