Announcement Regarding the Merger of Leveraged Tokens LUNA3S and NEAR3S
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens LUNA3S and NEAR3S at a ratio of 1,000:1 at 07:30 on March 23, 2022 (UTC).
The arrangement details are as follows:
1. Suspension of Subscription and Redemption
At 07:30 on March 22, 2022 (UTC), we will suspend the subscription and redemption of LUNA3S and NEAR3S. The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Tokens LUNA3S
At 06:30 on March 23, 2022 (UTC), we will suspend the trading of LUNA3S/USDT. All existing trade orders will be canceled. We will then take a snapshot of LUNA3S balances in users’ accounts and merge the shares of LUNA3S at a ratio of 1,000 LUNA3S = 1 LUNA3S.
At 09:00 on March 23, 2022 (UTC), new LUNA3S balances will be updated, and we will open the trading for LUNA3S/USDT. The subscription and redemption functions for LUNA3S will also be opened at this time.
3. The Merger of Leveraged Tokens NEAR3S
At 09:30 on March 23, 2022 (UTC), we will suspend the trading of NEAR3S/USDT. All existing trade orders will be canceled. We will then take a snapshot of NEAR3S balances in users’ accounts and merge the shares of NEAR3S at a ratio of 1,000 NEAR3S = 1 NEAR3S.
At 12:00 on March 23, 2022 (UTC), new NEAR3S balances will be updated, and we will open the trading for NEAR3S/USDT. The subscription and redemption functions for NEAR3S will also be opened at this time.
Tips:
1. It is recommended for LUNA3S and NEAR3S holders to reassess their holding risk before the start of the merger of LUNA3S and NEAR3S. Users are advised to trade or redeem their LUNA3S and NEAR3S into USDT before the start of merger of LUNA3S and NEAR3S.
2. We will post a further announcement to inform users when trading, subscription, and redemption will resume after the merger of LUNA3S and NEAR3S 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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