The ETH3L and PEOPLE5S leveraged tokens are currently traded on AscendEX with less than 0.1 USDT in share value, which negatively impact price precision and trading simplicity. To improve users’ experience in trading leveraged tokens, AscendEX will conduct a share merge for the leveraged tokens of ETH3L and PEOPLE5S between 2:30 p.m. and 3:00 p.m. UTC on Jun. 15. After this share merge, the number of the leveraged token shares held by users and the unit value per share will change, but the total value of users’ holdings will not change (without considering value changes caused by market fluctuations). Below you will find how we will conduct the merge:
1. ETH3L and PEOPLE5S will have a 10-for-1 share merge. After the merge is completed, the number of leveraged token shares held by users will become 1/10 that before the merge, and the unit value will be 10 times that before the merge. The unit value during the merge will be the basis for unit value calculation.
2. The name, abbreviation and trading pairs of the leveraged token shares will remain the same after the merge.
3. Before the merge, AscendEX will temporarily suspend these leveraged token trading markets and cancel any open orders.
4. After the merge is completed, AscendEX will resume these leveraged token trading markets. Please note, the price will fluctuate around the new unit value after the merge. Users should pay close attention when placing their orders.
5. As the net value of leveraged products is highly volatile, it’s possible that some of the above leveraged products may not be conducted a share merge. AscendEX will reserve the right at any time in its sole discretion to modify, change or cancel the merge for any reason.
Please read FAQs on AscendEX Leveraged Tokens to learn more.
Risk Disclosure: Leveraged tokens are a type of high-risk financial derivative. Please be sure to have a full understanding of the products, as well as the rebalancing mechanism, holding costs and other basic principles before trading. The above information is not investment advice. Investors should be cautious and pay attention to risk management while trading.
Thank you for your continued support!
The AscendEX Team
Telegram Group: https://t.me/AscendEX_Leveraged_Tokens