Dear Users,
To provide a better trading experience for our users, VET2L, AGIX2L will undergo a 1-for-100 reverse token split, starting at 08:30 on June 16th, 2023 (UTC). The process will take approximately 30 minutes, and the total asset value of VET2L, AGIX2L a user hold will not be affected by the reverse split.
After the 1-for-100 reverse:
100 VET2L, AGIX2L (before the reverse split) = 1 VET2L, AGIX2L (after the reverse split)
During the reverse split period:
- All existing bot trading orders and manual orders trading on VET2L, AGIX2L will be canceled automatically. All the USDT, BUSD and VET2L, AGIX2L frozen by trading bots will be returned to users’ spot accounts directly.
- Tradings on VET2L, AGIX2L and VET2S, AGIX2S will be suspended.
- We will then take a snapshot of VET2L, AGIX2L balances in users’ accounts and begin the reverse token split of VET2L, AGIX2L tokens at a ratio of 100 VET2L, AGIX2L (before the reverse split) = 1 VET2L, AGIX2L (after the reverse split).
- The balances of the VET2L, AGIX2L will be updated, and the tradings for VET2L, AGIX2L and VET2S, AGIX2S will be opened at this time.
Please check the VET2L, AGIX2L assets 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 VET2L, AGIX2L, if the price of VET2L, AGIX2L is 0.05 USDT and a user holds 100 VET2L, AGIX2L 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 VET2L, AGIX2L 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
June 16th, 2023