The Merger of Leveraged Token NEAR3L Postponed

The Merger of Leveraged Token NEAR3L Postponed

10:50:21 07/04/2023

Dear KuCoin Users,

KuCoin will merge the shares of the leveraged token NEAR3L at a ratio of 100,000:1, and the completion of the merger will be postponed to 11:00 on April 7, 2022 (UTC).

The arrangement details are as follows:

1. Suspension of purchase and redemption

At 17:30 on April 6, 2023 (UTC), we have suspended the subscription and redemption of NEAR3L. Subscription and redemption orders that have been applied for will not be affected.

2. The Merger of Leveraged Tokens NEAR3L

At 08:00 on April 07, 2023 (UTC), we have suspended the trading of NEAR3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the NEAR3L balance in the user's account and combine the NEAR3L shares in the ratio of 100,000 NEAR3L = 1 NEAR3L.

It is expected that the merger of the leveraged token NEAR3L will be completed at 11:00 (UTC) on April 7, 2023. If the merger is completed ahead of schedule, we will open the trading for NEAR3L/USDT. The subscription and redemption functions for NEAR3L will also be opened at this time.

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 ofKuCoin 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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