Announcement Regarding the Merger of Leveraged Tokens GALAX3L and GMT3L

Dear KuCoin Users,

To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens GALAX3L and GMT3L.

The details are as follows:

1. Suspension of Subscription and Redemption

We will suspend the subscription and redemption of GALAX3L at 11:00 on Oct 16, 2023 (UTC), and suspend the subscription and redemption of GMT3L at 11:00 on Oct 17, 2023 (UTC). The subscription and redemption orders that have already been applied will not be affected.

2. The Merger of Leveraged Tokens GALAX3L

At 07:00 on Oct 17, 2023 (UTC), we will suspend the trading of GALAX3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the GALAX3L balance in the user's account and combine the GALAX3L shares in the ratio of 100,000 GALAX3L = 1 GALAX3L.

It is expected that the merger of the leveraged token GALAX3L will be completed at 11:00 (UTC) on Oct 17, 2023. If the merger is completed ahead of schedule, we will open the trading for GALAX3L/USDT. The subscription and redemption functions for GALAX3L will also be opened at this time.

3. The Merger of Leveraged Tokens GMT3L

At 07:00 on Oct 18, 2023 (UTC), we will suspend the trading of GMT3L/USDT. All existing trade orders are cancelled. We then take a snapshot of the GMT3L balance in the user's account and combine the GMT3L shares in the ratio of 100,000 GMT3L = 1 GMT3L.

It is expected that the merger of the leveraged token GMT3L will be completed at 11:00 (UTC) on Oct 18, 2023. If the merger is completed ahead of schedule, we will open the trading for GMT3L/USDT. The subscription and redemption functions for GMT3L 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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