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Announcement Regarding the Merger of Leveraged Tokens AAVE3L and UNI3L

Announcement Regarding the Merger of Leveraged Tokens AAVE3L and UNI3L

06/21/2023, 09:11:04

Dear KuCoin Users,

To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens AAVE3L and UNI3L at a ratio of 100,000:1 at 08:00 on June 29, 2023 (UTC).

The arrangement details are as follows:

1. Suspension of Subscription and Redemption

At 17:30 on June 28, 2023 (UTC), we will suspend the subscription and redemption of AAVE3L and UNI3L. The subscription and redemption orders that have already been applied will not be affected.

2. The Merger of Leveraged Tokens AAVE3L

At 07:00 on June 29, 2023 (UTC), we will suspend the trading of AAVE3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the AAVE3L balance in the user's account and combine the AAVE3L shares in the ratio of 100,000 AAVE3L = 1 AAVE3L.

It is expected that the merger of the leveraged token AAVE3L will be completed at 09:00 (UTC) on June 29, 2023. If the merger is completed ahead of schedule, we will open the trading for AAVE3L/USDT. The subscription and redemption functions for AAVE3L will also be opened at this time.

3. The Merger of Leveraged Tokens UNI3L

At 09:30 on June 29, 2023 (UTC), we will suspend the trading of UNI3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the UNI3L balance in the user's account and combine the UNI3L shares in the ratio of 100,000 UNI3L = 1 UNI3L.

It is expected that the merger of the leveraged token UNI3L will be completed at 11:30 (UTC) on June 29, 2023. If the merger is completed ahead of schedule, we will open the trading for UNI3L/USDT. The subscription and redemption functions for UNI3L will also be opened at this time.

If a large price fluctuation occurs, we will postpone the merger accordingly and notify you via the announcement.

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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