KuCoin Will Merge the PEPEDOWN and NEAR3S Leverage Tokens
Dear KuCoin Users,
To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged tokens PEPEDOWN and NEAR3S.
The details are as follows:
| Leveraged Token | Date (UTC) | Ratio |
| PEPEDOWN | At 02:00 on March 8, 2024 | 100,000:1 |
| NEAR3S | At 02:00 on March 11, 2024 | 100,000:1 |
1. Suspension of Subscription and Trading
We will suspend the subscription and trading of PEPEDOWN/USDT at 12:00 on March 7, 2024 (UTC). The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Token PEPEDOWN
At 02:00 on March 8, 2024 (UTC), all existing trade orders will be canceled. We will then take a snapshot of the user's PEPEDOWN balance and combine the PEPEDOWN shares at a ratio of 100,000 PEPEDOWN : 1 PEPEDOWN.
It is expected that the merger of the leveraged token PEPEDOWN will be completed at 05:00 on March 8, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for PEPEDOWN/USDT accordingly. The subscription and redemption functions for PEPEDOWN will also be opened at this time.
3. Suspension of Subscription and Trading
We will suspend the subscription and trading of NEAR3S/USDT at 12:00 on March 10, 2024 (UTC), The subscription and redemption orders that have already been applied will not be affected.
2. The Merger of Leveraged Token NEAR3S
At 02:00 on March 11, 2024 (UTC), all existing trade orders will be canceled. We will then take a snapshot of the user's NEAR3S balance and combine the NEAR3S shares at a ratio of 100,000 NEAR3S : 1 NEAR3S.
It is expected that the merger of the leveraged token NEAR3S will be completed at 05:00 on March 11, 2024 (UTC). If the merger is completed ahead of schedule, we will open the trading for NEAR3S/USDT accordingly. The subscription and redemption functions for NEAR3S will also be opened at this time.
Notes:
1. KuCoin is going to adjust the price increment unit (API symbol: PriceIncrement) of PEPEDOWN/USDT and NEAR3S/USDT after the merger.
| Trading pair | Current price increment | New price increment |
| PEPEDOWN/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
| NEAR3S/USDT | 8 digits 0.00000001 | 4 digits 0.0001 |
2. Open Orders (including Web, App and API) before the price increment adjustment of the above trading pairs will not be affected and continue to be matched.
3. For API users, please be noted that the adjustments of price increment may result in errors when you place orders. If your trading pair is included in the list above, please adjust parameters properly to ensure the smooth transaction.
Thanks for your support!
TheKuCoinTeam
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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