Announcement Regarding the Merger of Leveraged Token MANA3L

Dear KuCoin Users,

To provide a better trading experience for our users, KuCoin will merge the shares of the leveraged token MANA3L at a ratio of 100,000:1 at 06:30 on November 28, 2022 (UTC).

The arrangement details are as follows:

1. Suspension of Subscription and Redemption

At 03:40 on November 24, 2022 (UTC), we will suspend the subscription and redemption of MANA3L. The subscription and redemption orders that have already been applied will not be affected.

2. The Merger of Leveraged Token MANA3L

At 06:30 on November 28, 2022 (UTC), we will suspend the trading of MANA3L/USDT. All existing trade orders will be canceled. We will then take a snapshot of MANA3L balances in users’ accounts and merge the shares of MANA3L at a ratio of 100,000 MANA3L = 1 MANA3L.

At 08:30 on November 28, 2022 (UTC), new MANA3L balances will be updated, and we will open the trading for MANA3L/USDT. The subscription and redemption functions for MANA3L 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.

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.

Thanks for your support!

The KuCoin Team

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