Dear respected users，
Since the net value of leveraged ETF product REEF1D5S and LOOKS1D5L is lower than 0.1 USDT, which triggers the Share Merging Mechanism. As such, Hotbit will merge the shares of REEF1D5S and LOOKS1D5L at 01:30 AM-02:00 AM on September 24th, 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 REEF1D5S and LOOKS1D5L 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
September 23rd, 2022
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