Dear Respected Hotbit Users,
According to the official plan of Value DeFi Protocol, all YFV will be swapped into VALUE according to the ratio of 1:1. Hotbit will conduct the swapping process for all relevant Hotbit according to the ratio designated by the official team. Please refer to our upcoming announcement for the detailed schedule of our swapping process.
Meanwhile, during the swapping process, in order to protect the rights and interests of those Hotbit users who have already participated in the ETF transactions of YFV from any losses and avoid any possible impact on the normal trading activities of YFV caused by any fluctuations of YFV prices before the swapping process, considering the fact that one of the ETF hedging platforms of YFV, OKEX, is involved in relevant problems of token depths, Hotbit has immediately suspended relevant ETF services of YFV at 05:00 AM, October 26th, 2020 (UTC).
By 04:00 AM, October 29th, 2020 (UTC), after OKEX exchange has published the announcement of delisting the perpetual product of YFV/USDT, Hotbit has immediately terminated the transactions of the ETF products of YFV and canceled all orders of YFV1D3L and YFV1D3S placed by all users as well. Hotbit will settle all positions of the ETF products of YFV based on the settlement price determined by the arithmetic mean of YFV/USDT index within the last hour before its delisting (1 YFV1D3L = 0.3599 USDT, 1 YFV1D3S = 0.8163 USDT).
Hotbit will finish the settlement and disposal of all ETF products of YFV during 05:00 AM, November 2nd, 2020 ~ 07:00 AM, November 2nd, 2020 (UTC).
We sincerely apologize for any inconvenience caused!
We hope you enjoy trading on Hotbit!
Please refer to the following link for the detailed official announcement of Value DeFi Protocol
November 2nd, 2020