Dear users,
To provide a better trading experience for our users, LTC3S will undergo a 50-for-1 reverse token split, starting at 18:00 (UTC+8) on March 12，2021. The process will take approximately 30 minutes, and the total asset value of LTC3S 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 LTC3S will be canceled automatically. All the LTC3S and USDT frozen by trading bots will be returned to users' spot accounts directly.
- Tradings on LTC3S and LTC3L will be suspended.
- We will then take a snapshot of LTC3S balances in users' accounts and begin the reverse token split of LTC3S tokens at a ratio of 50 LTC3S (before the reverse split) = 1 LTC3S (after the reverse split).
- The balances of the LTC3S will be updated, and the tradings for LTC3S and LTC3L will be opened at this time.
Please check the LTC3S 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 LTC3S, if the price of LTC3S is 0.05 USDT and a user holds 100 LTC3S 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 LTC3S holding by the user will not change and remain 5USDT before or after the reverse split.
Pionex Team
March 12, 2021
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