Dear Users,
To provide a better trading experience for our users, LTC3L will undergo a 1-for-100 reverse token split, starting at 06:30 on September 1st, 2023 (UTC). The process will take approximately 30 minutes, and the total asset value of LTC3L a user hold will not be affected by the reverse split.
After the 1-for-100 reverse:
100 LTC3L (before the reverse split) = 1 LTC3L (after the reverse split)
During the reverse split period:
- All existing bot trading orders and manual orders trading on LTC3L will be canceled automatically. All the USDT and LTC3L frozen by trading bots will be returned to users’ spot accounts directly.
- Tradings on LTC3L and LTC3S will be suspended.
- We will then take a snapshot of LTC3L balances in users’ accounts and begin the reverse token split of LTC3L tokens at a ratio of 100 LTC3L (before the reverse split) = 1 LTC3L (after the reverse split).
- The balances of the LTC3L will be updated, and the tradings for LTC3L and LTC3S will be opened at this time.
Please check the LTC3L asset in the “Primary Account” after the reverse split.
【About the reverse split of the Picol Leveraged Token】
- When the leveraged token price is less than 0.1 USDT, to avoid having any adverse effect on users’ trading experience, Picol 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 LTC3L , if the price of LTC3L is 0.05 USDT and a user holds 100 LTC3L 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 LTC3L 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 Picol will make its best efforts to choose high-quality assets, Picol could not assure any profit and will not be responsible for your trading loss.
Thanks for your support!
Picol Team
September 1st, 2023