To provide a better trading experience for our users, OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L will undergo a 1-for-10,000 reverse token split. It will start at 10:00 (UTC) on November 26, 2022. The process will take approximately 3 hours, and the total asset value of OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L a user hold will not be affected by the reverse split.
After the 1-for-10,000 reverse:
10,000 OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L(before the reverse split) = 1 OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L(after the reverse split)
During the reverse split period:
- All existing orders trading on OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L will be canceled automatically. Tradings on OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L will be suspended.
- We will then take a snapshot of OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L balances in users' accounts.
- The balances of the OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L will be updated, and the tradings for OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L will be opened at this time.
Please check the OXY3L, CREAM3S, SFP3S, BIT3S, IMX3L, SAND5L, AXS5S, DOGE5L asset in "Wallet→ Spot" after the reverse split.
【About the reverse split of the LBank Leveraged Token】
When the leveraged token price is less than 0.01 USDT, to avoid having any adverse effect on users' trading experience, LBank might undergo a reverse token split on that leveraged token. The exact price that triggers the reverse token split might vary depending on the market condition.
A reverse token split is a process that consolidates the existing number of issued tokens into a smaller number of proportionally more valuable tokens.
Based on the ratio of the 1-for-1000 reverse split of BTC3L, if the price of BTC3L is 0.005 USDT and a user holds 1000 BTC3L before the reverse split, the user will end up holding 1 BTC3L worth 5 USDT each after the reverse split. The total value of the BTC3L holding by the user will not change and remain 5 USDT before or after the reverse split.
Risk warning:
Trading in the crypto market carries a substantial risk and the possibility of making both significant profits and losses. Please trade cautiously. Though LBank will make its best efforts to choose high-quality assets, LBank could not assure any profit and will not be responsible for your trading loss.
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