Important Updates to DOTDOWN Binance Leveraged Token.
Updates to DOTDOWN Binance Leveraged Token
In order to provide a better user experience, DOTDOWN will reverse the token split at a ratio of 100,000:1 at 11:00 on October 21, 2021 (East Eighth District Time). The entire process takes about 24 hours.
The specific arrangements are as follows:
- 11:00, October 21, 2021 (East Eighth District Time):
- Suspend DOTDOWN leveraged token trading, subscription and redemption functions, and automatically cancel all pending orders. Binance will immediately take a snapshot of the user’s DOTDOWN balance and reverse the token split at the ratio of 100,000 DOTDOWN (before the token reverse split) = 1 DOTDOWN (after the token reverse split).
- 11:00, October 22, 2021 (East Eighth District Time):
- Update the DOTDOWN balance and restore the DOTDOWN/USDT trading pair trading, subscription and redemption functions.
Go to Binance Official Website
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 DOTDOWN is 100 billion, according to the ratio of 100,000:1, the total number of tokens issued by DOTDOWN after the reverse token split is 1 million.
Assuming that the user holds 1,000,000 DOTDOWN tokens before the reverse token split, according to the token reverse split ratio of 100,000:1, the user will hold 10 DOTDOWN tokens after the token reverse split.
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 DOTDOWN. 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 DOTDOWN tokens evaluate their holding risks in advance to avoid risks caused by market fluctuations during the reverse token split. It is recommended that users trade or redeem the tokens held in advance.
If a user holds DOTDOWN tokens after 11:00 on October 21, 2021 ( East Eighth District Time), Binance will use 100,000 DOTDOWN (before the token reverse split) = 1 DOTDOWN (after the token reverse split) The proportion of these tokens will be reversely divided, and the DOTDOWN token balance will be updated at 11:00 on October 22, 2021 ( East Eighth District Time). Due to unit restrictions, the new DOTDOWN token balance after the reverse token split 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.
A separate announcement will be made after the reverse token split is completed.
Go to Binance Official Website
Please check Binance official website or contact the customer support with regard to the latest information and more accurate details.
Binance official website is here.
Please click "Introduction of Binance", if you want to know the details and the company information of Binance.
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April 24, 2024
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