In order to provide a better user experience, UNIDOWN and LTCDOWN will be divided into reverse tokens at a ratio of 100,000:1. The entire process takes about 24 hours.

The specific arrangements are as follows:

UNIDOWN and LTCDOWN

100,000 UNIDOWN (before the reverse token split) = 1 UNIDOWN (after the token reverse split)

100,000 LTCDOWN (before the reverse token split) = 1 LTCDOWN (after the token reverse split)

  • August 17, 2021, 11:00 ( East Eighth District Time): Suspend UNIDOWN and LTCDOWN leveraged token trading, subscription and redemption functions, and automatically cancel all pending orders. Binance will immediately take a snapshot of the user’s UNIDOWN and LTCDOWN balances, and reverse the token split at a ratio of 100,000:1;
  • August 18, 2021, 11:00 ( East Eighth District Time): Update UNIDOWN and LTCDOWN balances, restore UNIDOWN/USDT, LTCDOWN/USDT trading pair trading and subscription and redemption functions.

Go to Binance’s 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.

Take the UNIDOWN token as an example:

  • Assuming that before the reverse token split, the total number of tokens issued by UNIDOWN is 100 billion, according to the ratio of 100,000:1, the total number of issued tokens after the reverse token split of UNIDOWN is 1 million;
  • Assuming that the user holds 1,000,000 UNIDOWN tokens before the reverse token split, according to the reverse token split ratio of 100,000:1, the user will hold 10 UNIDOWN tokens after the reverse token split.

Contact Binance Support Team

In the process of reverse token splitting, any changes in the net value of tokens may be reflected in the NAV K-line chart, for example, UNIDOWN NAV K-line chart. 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 UNIDOWN and LTCDOWN 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 UNIDOWN and LTCDOWN tokens after 11:00 on August 17, 2021 ( East Eighth District Time), Binance will use 100,000 UNIDOWN (before the reverse token split) = 1 UNIDOWN (the reverse token split) After), 100,000 LTCDOWN (before the reverse token split) = 1 LTCDOWN (after the reverse token split). These tokens will be reversely split on these tokens, and at 11:00 on August 18, 2021 ( East Eight district time) Update the balance of UNIDOWN and LTCDOWN tokens. Due to unit restrictions, the balance of the new UNIDOWN and LTCDOWN tokens after the reverse split of the 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.

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

Go to Binance’s Official Website