Reverse Split of Pionex KNC2L, IOTA2L, FIL2L Leveraged Tokens

Dear Users,

To provide a better trading experience for our users, KNC2L, IOTA2L, FIL2L will undergo a 1-for-100 reverse token split starting at 02:30 on July 5th, 2024 (UTC). The process will take approximately 30 minutes, and the total asset value of KNC2L, IOTA2L, FIL2L, and a user hold will not be affected by the reverse split.

After the 1-for-100 reverse:

100 KNC2L, IOTA2L, FIL2L (before the reverse split) = 1 KNC2L, IOTA2L, FIL2L (after the reverse split)

During the reverse split period:

1. All existing bot trading orders and manual orders trading on KNC2L, IOTA2L, FIL2L will be canceled automatically. All the USDT and KNC2L, IOTA2L, FIL2L frozen by trading bots will be returned to users' primary account directly.

2. Tradings on KNC2L, IOTA2L, FIL2L and KNC2S, IOTA2S, FIL2S will be suspended.

3. We will then take a snapshot of KNC2L, IOTA2L, FIL2L balances in users' accounts and begin the reverse token split of KNC2L, IOTA2L, FIL2L tokens at a ratio of 100 KNC2L, IOTA2L, FIL2L (before the reverse split) = 1 KNC2L, IOTA2L, FIL2L (after the reverse split).

4. The balances of the KNC2L, IOTA2L, FIL2L will be updated, and the tradings for KNC2L, IOTA2L, FIL2L and KNC2S, IOTA2S, FIL2S will be opened at this time. Please check the KNC2L, IOTA2L, FIL2L assets in the "Primary Account" after the reverse split.

About the reverse split of the Pionex Leveraged Token:

1. 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 price that triggers the reverse token split might vary depending on the market condition.

2. A reverse split of leveraged tokens refers to reducing the issued quantity of leveraged tokens proportionally while simultaneously increasing the nominal value of these tokens.

3. Based on the ratio of the 1-for-100 reverse split of KNC2L, if the price of KNC2L is 0.05 USDT and a user holds 100 KNC2L before the reverse split, the user will end up holding 1 KNC2L worth 5 USDT each after the reverse split. The total value of the KNC2L 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.