Dear respected users,
Since the net value of leveraged ETF products LOOKS1D5L, GALA1D5L, FTT1D5L, IMX1D5L, ARPA1D5L, UNFI1D5L, GAL1D5L, REEF1D5L, CRO1D5L, WAVES1D3L, PERP1D5L, MKR1D5L, WOO1D5L, IOST1D5L and CRV1D3L are lower than 0.1 USDT, which triggers the Share Merging Mechanism. As such, Hotbit will merge the shares of LOOKS1D5L, GALA1D5L, FTT1D5L, IMX1D5L, ARPA1D5L, UNFI1D5L, GAL1D5L, REEF1D5L, CRO1D5L, WAVES1D3L, PERP1D5L, MKR1D5L, WOO1D5L, IOST1D5L and CRV1D3L at 4:45 PM UTC on November 9th, 2022 UTC.
Because the price will increase by 10X after the merger, the number of users' existing assets will be multiplied by 0.1, meanwhile, the 10 shares of LOOKS1D5L, GALA1D5L, FTT1D5L, IMX1D5L, ARPA1D5L, UNFI1D5L, GAL1D5L, REEF1D5L, CRO1D5L, WAVES1D3L, PERP1D5L, MKR1D5L, WOO1D5L, IOST1D5L and CRV1D3L will be merged into 1 share, consequently, the net value per share will be up 10 times, and user's holding amount will be down to 1/10. In this connection, the user’s total assets will stay the same after the merging.
The net value conversion is based on the net balance at the time of the merger.
About leveraged ETF, for more details: Leveraged ETF FAQ
Hotbit Team
November 8th, 2022
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