MEXC Will Merge the Share of OP3S Leveraged ETF Product

Dear MEXCer,
In order to provide a better user experience, MEXC will merge OP3S at a ratio of 10000:1 at 02:30 (UTC) on March 20, 2023. The process will take about 0.5 hour.
1.Arrangements are as follows:
a. The original 10,000 shares of OP3S will be merged into 1 share, and the net value becomes 10,000 times that of the original share. The number of OP3S positions held by the user will be reduced to 1/10,000 of the previous one, but the total asset value will not change (total asset value = position Quantity*Equity).
The net value conversion is based on the net value at the time of merger, and the name, abbreviation, and transaction pair of the new share are the same as before the merger.
b. Users will not be able to trade during the merging period. In order to reduce the risk of loss caused by currency price fluctuations on your positions, you can control the risk by selling in advance of the merging period.
c. The merging process is affected by many factors. Only the estimated completion time is provided. As soon as the merging process is completed, you will be notified by an internal letter. Please pay attention to to your inbox.
2.FAQ
a. Why is MEXC merging currencies?
The mechanism is the same as that of other similar products on the market. When the current net value of ETF products is low, user transactions may be affected by accuracy issues. In order to provide a better and more accurate user experience, MEXC will choose a time when the net value is lower than 0.0001USDT and consolidate related currencies in batches.
b. If merging doesn't affect the total assets, why might my assets decrease?
The merging mechanism itself will not affect the total asset value, but the need for merging is often accompanied by market fluctuations. The net worth may change dramatically in a short period of time, so profits or losses may occur before or after the merger, as affected by market conditions.
c. For answers to more Frequently Asked Questions, visit: https://support.mexc.com/hc/en-001/articles/360040972931
[Risk Alert]
As an emerging financial derivative, leveraged ETFs greatly reduce the risk of forced liquidation, but liquidation is still a risk under extreme market conditions. Please read the ETF tutorial announcement carefully before trading, and pay attention to risk control.
[Join the MEXC Community]
Chinese Telegram: https://t.me/MEXCtelegram
English Telegram: https://t.me/MEXCEnglish

Enjoy trading on MEXC.

MEXC Team
2023-3-18
Read the original article at mexc

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