Dear users,
To provide a better trading experience for our users, BSV5L, CRV3L will undergo a 1-for-1000 reverse token split. DOT3L, OCEAN3L will undergo a 1-for-100 reverse token split. It will start at 17:00 (UTC+8) on Mar 08, 2022. The process will take approximately 3 hours, and the total asset value of BSV5L, CRV3L, DOT3L, OCEAN3L a user hold will not be affected by the reverse split.
After the 1-for-1000 reverse:
1000 BSV5L, CRV3L(before the reverse split) = 1 BSV5L, CRV3L(after the reverse split)
After the 1-for-100 reverse:
100 DOT3L, OCEAN3L(before the reverse split) = 1 DOT3L, OCEAN3L(after the reverse split)
During the reverse split period:
- All existing orders trading on BSV5L, CRV3L, DOT3L, OCEAN3L will be canceled automatically. Tradings on BSV5L, CRV3L, DOT3L, OCEAN3L will be suspended.
- We will then take a snapshot of BSV5L, CRV3L, DOT3L, OCEAN3L balances in users' accounts and begin the reverse token split of BSV5L, CRV3L tokens at a ratio of 1000 BSV5L, CRV3L(before the reverse split) = 1 BSV5L, CRV3L(after the reverse split), at a ratio of 100 DOT3L, OCEAN3L(before the reverse split) = 1 DOT3L, OCEAN3L(after the reverse split)
- The balances of the BSV5L, CRV3L, DOT3L, OCEAN3L will be updated, and the tradings for BSV5L, CRV3L, DOT3L, OCEAN3L will be opened at this time.
Please check the BSV5L, CRV3L, DOT3L, OCEAN3L 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 KNC3S, if the price of KNC3S is 0.005 USDT and a user holds 1000 KNC3S before the reverse split, the user will end up holding 1 KNC3S worth 5 USDT each after the reverse split. The total value of the KNC3S 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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