Reverse Split of Pionex BTC1S Leveraged Tokens

Dear Users,

To provide a better trading experience for our users,BTC1S will undergo a 1-for-100 reverse token split starting at 08:30 on February 27th, 2024 (UTC). The process will take approximately 30 minutes, and the total asset value of BTC1S a user hold will not be affected by the reverse split.

After the 1-for-100 reverse:
100 BTC1S (before the reverse split) = 1 BTC1S (after the reverse split)

During the reverse split period:

• All existing bot trading orders and manual orders trading on BTC1S will be canceled automatically. All the USDT and BTC1S frozen by trading bots will be returned to users' spot accounts directly.
• Tradings on BTC1S and BTC1L will be suspended.
• We will then take a snapshot of BTC1S balances in users' accounts and begin the reverse token split of BTC1S tokens at a ratio of 100 BTC1S (before the reverse split) = 1 BTC1S(after the reverse split).
• The balances of the BTC1S will be updated, and the tradings for BTC1S, and BTC1L will be opened at this time.

Please check the BTC1S assets in the "Primary Account" 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 BTC1S, if the price of BTC1S is 0.05 USDT and a user holds 100BTC1S before the reverse split, the user will end up holding 1 BTC1S worth 5 USDT each after the reverse split. The total value of the BTC1S holding by the user will not change and will remain at 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 cannot assure any profit and will not be responsible for your trading loss.

Thanks for your support!

Pionex Team
February 27th, 2024