Announcement Regarding the Merger of Leveraged Tokens SUSHI3L, ADA3L and EOS3L

Dear KuCoin Users,

To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens SUSHI3L, ADA3L and EOS3L at a ratio of 10,000:1 at 06:00 on May 17, 2022 (UTC).

The arrangement details are as follows:

1. Suspension of Subscription and Redemption

At 07:00 on May 16, 2022 (UTC), we will suspend the subscription and redemption of SUSHI3L, ADA3L and EOS3L. The subscription and redemption orders that have already been applied will not be affected.

2. The Merger of Leveraged Token SUSHI3L

At 06:00 on May 17, 2022 (UTC), we will suspend the trading of SUSHI3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of SUSHI3L balances in users’ accounts and merge the shares of SUSHI3L at a ratio of 10,000 SUSHI3L = 1 SUSHI3L.

At 08:00 on May 17, 2022 (UTC), new SUSHI3L balances will be updated, and we will open the trading for SUSHI3L/USDT. The subscription and redemption functions for SUSHI3L will also be opened at this time.

3. The Merger of Leveraged Token ADA3L

At 08:10 on May 17, 2022 (UTC), we will suspend the trading of ADA3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of ADA3L balances in users’ accounts and merge the shares of ADA3L at a ratio of 10,000 ADA3L = 1 ADA3L.

At 10:10 on May 17, 2022 (UTC), new ADA3L balances will be updated, and we will open the trading for ADA3L/USDT. The subscription and redemption functions for ADA3L will also be opened at this time.

4. The Merger of Leveraged Token EOS3L

At 10:20 on May 17, 2022 (UTC), we will suspend the trading of EOS3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of EOS3L balances in users’ accounts and merge the shares of EOS3L at a ratio of 10,000 EOS3L = 1 EOS3L.

At 12:10 on May 17, 2022 (UTC), new EOS3L balances will be updated, and we will open the trading for EOS3L/USDT. The subscription and redemption functions for EOS3L 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 SUSHI3L, ADA3L and EOS3L 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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