Reverse Split of WAVES2L、GAL2L Pionex Leveraged Token

Dear users,

To provide a better trading experience for our users, WAVES2L、GAL2L will undergo a 1-for-100 reverse token split, starting at 02:00(UTC) on Nov. 09, 2022. The process will take approximately 30 minutes, and the total asset value of WAVES2L、GAL2L a user hold will not be affected by the reverse split.

After the 1-for-100 reverse:
100 WAVES2L、GAL2L (before the reverse split) = 1 WAVES2L、GAL2L (after the reverse split)

During the reverse split period:

• All existing bot trading orders and manual orders trading on WAVES2L、GAL2L will be canceled automatically. All the WAVES2L、GAL2L and WAVES2S、GAL2S frozen by trading bots will be returned to users' spot accounts directly.
• Tradings on WAVES2L、GAL2L and WAVES2S、GAL2S will be suspended.
• We will then take a snapshot of WAVES2L、GAL2L balances in users' accounts and begin the reverse token split of WAVES2L、GAL2L tokens at a ratio of 100 WAVES2L、GAL2L (before the reverse split) = 1 WAVES2L、GAL2L (after the reverse split).
• The balances of the WAVES2L、GAL2L will be updated, and the tradings for WAVES2L、GAL2L and WAVES2S、GAL2S will be opened at this time.

Please check the WAVES2L、GAL2L asset in "My holding assets balance" after the reverse split.

【About the reverse split of the Pionex Leveraged Token】

• When the leveraged token price is less than 0.1 USDT, to avoid having any adverse effect on users' trading experience, Pionex 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-100 reverse split of WAVES2L、GAL2L , if the price of WAVES2L、GAL2L is 0.05 USDT and a user holds 100 WAVES2L、GAL2L before the reverse split, the user will end up holding 1 USDT worth 5 USDT each after the reverse split. The total value of the WAVES2L、GAL2L holding by the user will not change and will 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 Pionex will make its best efforts to choose high-quality assets, Pionex could not assure any profit and will not be responsible for your trading loss.

Thanks for your support!

Pionex Team
Nov 09, 2022