Explanation of Abnormal Prices During the KuCoin Leveraged Token Test Run Period
Dear KuCoin Users,
At 04:00:00 on April 8, 2021 (UTC), KuCoin launched a test run of leveraged tokens for BTC3L/USDT, BTC3S/USDT, ETH3L/USDT, and ETH3S/USDT. Due to some users not knowing much about the leveraged token price mechanism, they placed orders at a higher premium price during the period from 18:40:00 to 19:20:00 on April 8, 2021 (UTC), resulting in abnormal profits, and abnormal losses.
As ‘The People’s Exchange’, we always put our users first. Therefore, KuCoin will provide corresponding subsidies to users who have suffered abnormal losses. At the same time, we have taken immediate measures to optimize the system to improve the user experience. Also, considering the user trading experience of the leveraged tokens, KuCoin will delete the abnormal K-line chart.
Note: Users who have made abnormal profit are not included in the plan.
We will subsidize users based on the average net value of the leveraged token on the primary market from 18:40:00 to 19:20:00 on April 8, 2021 (UTC) for leveraged token trading pairs with abnormal prices.
You can check the net value of leveraged tokens through the following links: BTC3L, BTC3S, ETH3L, and ETH3S.
Note: Orders executed at normal prices are not included in the subsidy plan.
Please fill in the form to claim the subsidies.
The subsidies will be credited to your account within 7 to 15 working days after verification by our staff.
Leveraged tokens are still in the trial run period, and users will be notified through an announcement when they are officially launched. We will be launching more value-added activities too, so stay tuned!
Thank you for your support and understanding!
The KuCoin Team
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