Notification of Reverse Split for LINK*(-3)
Dear Valued Users,
Considering the relatively low net value of LINK*(-3), Huobi will execute a reverse split for LINK*(-3) at 07:00 (UTC) on Jan. 12, 2022 to facilitate users' trading and avoid negative impact from precision issues. We will notify you once it is completed. During the period, services including trading, subscription and redemption will be suspended.
The time for the reverse split might be adjusted based on the market movement. To mitigate market volatility risks during execution, a temporary position adjustment will be triggered if the leverage of LINK*(-3) is too high before the reverse split starts.
To enhance user experience, the K-line (candle chart) before the reverse split will be hidden and the time when the execution is completed will be its starting point.
The Reverse Split will be undertaken in a ratio of 100,000,000:1, which means 100,000,000 shares of LINK*(-3) will be merged into 1 share and the net value will be magnified by 100,000,000 times. Consequently, the NAV of LINK*(-3) per share will be 100,000,000 times than before, and users’ LINK*(-3) holding will be down to the previous 1/100,000,000, while the value of total assets will be unchanged (total asset value = ETP holdings * ETP net value)
- As trading, subscription, and redemption services for LINK (-3), as well as the dynamic position adjustment, will be disabled during the reverse split, users are recommended to sell or redeem LINK*(-3) before the reverse split to reduce price risks.
- There is a possibility that the NAV of ETP can become zero or the product will be removed due to inherent market risk, high fees, slippage, rebalance algorithm frontrunning, and any other perceived unknown risks associated with ETP.
January 10, 2022
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Huobi reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi. Prices of digital assets are highly volatile and trading digital assets involves risk. Please read our Risk Reminder text here.