Hotbit Will Merge the Shares of Leveraged ETF Products LOOKS1D5L and KNC1D3S on April 11th, 2022

Dear respected users，

Since the net value of leveraged ETF product LOOKS1D5L and KNC1D3S are lower than 0.1 USDT, which triggers the Share Merging Mechanism. As such, Hotbit will merge the shares of LOOKS1D5L  and KNC1D3S at 01:30 AM-02:00 AM on April 11th, 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 and KNC1D3S 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

                                                                 What is merge？

Hotbit Team

April 10th, 2022