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Announcement Regarding the Merger of Leveraged Tokens FTM3L and GALAX3L

Announcement Regarding the Merger of Leveraged Tokens FTM3L and GALAX3L

05/12/2022, 12:23:44


Dear KuCoin Users,

To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens FTM3L and GALAX3L at a ratio of 10,000:1 at 06:00 on May 13, 2022 (UTC).

The arrangement details are as follows:

1. Suspension of Subscription and Redemption

At 16:00 on May 12, 2022 (UTC), we will suspend the subscription and redemption of FTM3L and GALAX3L. The subscription and redemption orders that have already been applied will not be affected.

2. The Merger of Leveraged Tokens FTM3L

At 06:00 on May 13, 2022 (UTC), we will suspend the trading of FTM3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of FTM3L balances in users’ accounts and merge the shares of FTM3L at a ratio of 10,000 FTM3L = 1 FTM3L.

At 08:30 on May 13, 2022 (UTC), new FTM3L balances will be updated, and we will open the trading for FTM3L/USDT. The subscription and redemption functions for FTM3L will also be opened at this time.

3. The Merger of Leveraged Tokens GALAX3L

At 09:00 on May 13, 2022 (UTC), we will suspend the trading of GALAX3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of GALAX3L balances in users’ accounts and merge the shares of GALAX3L at a ratio of 10,000 GALAX3L = 1 GALAX3L.

At 11:30 on May 13, 2022 (UTC), new GALAX3L balances will be updated, and we will open the trading for GALAX3L/USDT. The subscription and redemption functions for GALAX3L will also be opened at this time.

Tips:

We will post a further announcement to inform users when trading, subscription, and redemption will resume after the merger of FTM3L and GALAX3L is completed.

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 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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