Event Description:
From 08:45 AM UTC on June 13th, 2022, Market makers were unable to provide liquidity <ETF market maker terms> for Hotbit UMA1D3L/USDT, UMA1D3S/USDT trading pairs due to significant delays in pushing data from the hedging platform. So,the trading functions of UMA1D3L and UMA1D3S be suspended.
For accidents caused by the market maker's inability to provide liquidity properly during that period, Hotbit will initiate a compensation process:
Hotbit will conduct asset recovery for users who hold UMA1D3L and UMA1D3S at 08:45 AM UTC on June 13th, 2022
The repurchase price is as follows:
UMA1D3L: 0.40146 (In fact, the net value of UMA1D3L at this time point is 0.16123, but we will repurchase it according to the net value of rising 249%)
UMA1D3S: 1.40288
The compensation will be completed within 7 working days. If you have any questions, please submit a support ticket to us.
Click Here to submit support tickets
We apologize for the inconvenience caused, and thank you for your support to Hotbit!
Special reminder from Hotbit: Users are advised to exercise caution when choosing to trade with full knowledge of market fluctuations and potential risks.
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Hotbit team
June 17, 2022
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