Details of Reverse Token Split of XLMDOWN

In order to provide a better user experience, XLMDOWN will reversely split tokens at a ratio of 100,000:1 at 11:00 on August 26, 2021 (East Eighth District Time).

The entire process takes about 24 hours.

August 26, 2021, 11:00 ( East Eighth District Time): Suspend XLMDOWN leveraged token trading, subscription and redemption functions, and automatically cancel all pending orders.

Binance will immediately take a snapshot of the user’s XLMDOWN balance and reverse the token split at the ratio of 100,000 XLMDOWN (before the token reverse split) = 1 XLMDOWN (after the token reverse split).

August 27, 2021, 11:00 ( East Eighth District Time): Update XLMDOWN balance and restore XLMDOWN/USDT trading pair trading, subscription and redemption functions.

Find out more about Reverse Token Split of XLMDOWN

About Reverse Token Split

The reverse token split refers to the proportional reduction of the number of issued tokens and the increase of the nominal value of a single token.

Assuming that before the reverse token split, the total number of tokens issued by XLMDOWN is 100 billion, according to the ratio of 100,000:1, the total number of issued tokens after the reverse token split of XLMDOWN is 1 million.

Assuming that the user holds 1,000,000 XLMDOWN tokens before the reverse token split, according to the reverse token split ratio of 100,000:1, the user will hold 10 XLMDOWN tokens after the reverse token split.

Go to Binance’s Official Website

What you need to know about XLMDOWN Binance Leveraged Token

In the process of reverse token splitting, any changes in the net value of tokens may be reflected in the NAV K-line chart of XLMDOWN.

Please note that due to the ongoing reverse token split, the NAV candlestick chart may show the net value of the tokens may not be accurate and not for reference.

It is strongly recommended that all users who hold XLMDOWN tokens evaluate their holding risks in advance to avoid the risks caused by market fluctuations during the reverse token split.

It is recommended that users trade or redeem their tokens in advance.

If a user holds XLMDOWN tokens after 11:00 on August 26, 2021 (East Eighth District Time), Binance will use 100,000 XLMDOWN (before the token reverse split) = 1 XLMDOWN (after the token reverse split) The proportion of these tokens will be reversely divided, and the XLMDOWN token balance will be updated at 11:00 on August 27, 2021 (East Eighth District Time).

Due to unit restrictions, the balance of new XLMDOWN tokens after the reverse split of tokens will be updated to a maximum of 8 digits after the decimal point.

Before resuming the transaction, Binance will reserve 15 minutes for users to subscribe/redeem operations.

Another announcement will be made after the reverse token split is completed.

Go to Binance’s Official Website