Dear users,
To provide a better trading experience for our users, BAL3S will undergo a 50-for-1 reverse token split, starting at 17:00 (UTC+8) on March 15，2021. The process will take approximately 30 minutes, and the total asset value of BAL3S a user hold will not be affected by the reverse split.
During the reverse split period:
- All existing bot trading orders and manual orders trading on BAL3S will be canceled automatically. All the BAL3S and USDT frozen by trading bots will be returned to users' spot accounts directly.
- Tradings on BAL3S and BAL3L will be suspended.
- We will then take a snapshot of BAL3S balances in users' accounts and begin the reverse token split of BAL3S tokens at a ratio of 50 BAL3S (before the reverse split) = 1 BAL3S (after the reverse split).
- The balances of the BAL3S will be updated, and the tradings for BAL3S and BAL3L will be opened at this time.
Please check the BAL3S 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 0.05 USDT, to avoid having any adverse effect on users' trading experience, Pionex will undergo a reverse token split on that leveraged token.
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 50-to-1 reverse split of BAL3S, if the price of BAL3S is 0.05 USDT and a user holds 100 BAL3S before the reverse split, the user will end up holding 2 USDT worth 2.5 USDT each after the reverse split. The total value of the BAL3S holding by the user will not change and remain 5USDT before or after the reverse split.
Pionex Team
March 15, 2021
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