{"id":3740,"date":"2023-03-21T11:20:26","date_gmt":"2023-03-21T03:20:26","guid":{"rendered":"https:\/\/www.picol.com\/blog\/?p=3740"},"modified":"2023-03-21T11:20:26","modified_gmt":"2023-03-21T03:20:26","slug":"reverse-split-of-snx2s-picol-leveraged-token-en","status":"publish","type":"post","link":"https:\/\/www.picol.com\/blog\/en\/reverse-split-of-snx2s-picol-leveraged-token-en\/","title":{"rendered":"Reverse Split of SNX2S Picol Leveraged Token"},"content":{"rendered":"\n<p>Dear users,<br>To provide a better trading experience for our users,&nbsp;<strong>SNX2S<\/strong>&nbsp;will undergo a 1-for-100 reverse token split, starting&nbsp;<strong>at 06:30 on March 21st, 2023 (UTC).&nbsp;<\/strong>The process will take approximately 30 minutes, and the total asset value of SNX2S a user hold will not be affected by the reverse split.<br><br>After the 1-for-100 reverse:<br><strong>100 SNX2S (before the reverse split) = 1 SNX2S (after the reverse split)<\/strong><br><br>During the reverse split period:<\/p>\n\n\n\n<ul><li>All existing bot trading orders and manual orders trading on SNX2S will be canceled automatically. All the USDT and SNX2S frozen by trading bots will be returned to users&#8217; spot accounts directly.<\/li><li>Tradings on SNX2L and SNX2S will be suspended.<\/li><li>We will then take a snapshot of SNX2S balances in users&#8217; accounts and begin the reverse token split of SNX2S tokens at a ratio of 100 SNX2S (before the reverse split) = 1 SNX2S (after the reverse split).<\/li><li>The balances of the SNX2S will be updated, and the tradings for SNX2L and SNX2S will be opened at this time.<\/li><\/ul>\n\n\n\n<p>Please check the SNX2S asset in the &#8220;Primary Account&#8221; after the reverse split.<\/p>\n\n\n\n<p><br><strong>\u3010About the reverse split of the Picol Leveraged Token\u3011<\/strong><\/p>\n\n\n\n<ul><li>When the leveraged token price is less than 0.1 USDT, to avoid having any adverse effect on users&#8217; 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.<\/li><li>A reverse token split is a process that consolidates the existing number of issued tokens into a smaller number of proportionally more valuable tokens.<\/li><li><strong>Based on the ratio of the 1-for-100 reverse split of SNX2S, if the price of SNX2S is 0.05 USDT and a user holds 100 SNX2S 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 SNX2S holding by the user will not change and will remain 5 USDT before or after the reverse split.<\/strong><\/li><\/ul>\n\n\n\n<p><br>Risk warning:<br>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.<br><br>Thanks for your support!<br><br>Picol Team<br>March 21st, 2023<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear users,To provide a better trading experience for o &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.picol.com\/blog\/en\/reverse-split-of-snx2s-picol-leveraged-token-en\/\"> <span class=\"screen-reader-text\">Reverse Split of SNX2S Picol Leveraged Token<\/span> \u67e5\u770b\u5168\u6587 &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/posts\/3740"}],"collection":[{"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/comments?post=3740"}],"version-history":[{"count":1,"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/posts\/3740\/revisions"}],"predecessor-version":[{"id":3741,"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/posts\/3740\/revisions\/3741"}],"wp:attachment":[{"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/media?parent=3740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/categories?post=3740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.picol.com\/blog\/wp-json\/wp\/v2\/tags?post=3740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}