The crypto leveraged ETF markets are traded 24/7, typically with great
fluctuations. Some leveraged ETFs are currently traded on Gate with
too small share value, which negatively impact the price precision and
trading simplicity. To improve users’ experience in trading ETFs,
Gate will conduct share merge for several leveraged ETFs on Feb 19,
around 06:00 AM UTC. After this share merge, the number of ETF
shares held by users and the unit value per share will change, but the
total value of users’ holdings will not change (without considering
value changes caused by market fluctuations). Below you will find how we
will conduct the merge:

YFII3L will have a 1-for-1000 reverse
split. After the split is completed, the number of ETF shares held by
users will become 1/1000 that before the split , and the unit value will
be 1000 times that before the split.
GRIN3L will have a 1-for-1000
reverse split. After the split is completed, the number of ETF shares
held by users will become 1/1000 that before the split , and the unit
value will be 1000 times that before the split.
LINK3L will have a
1-for-1000 reverse split. After the split is completed, the number of ETF
shares held by users will become 1/1000 that before the split , and the
unit value will be 1000 times that before the split.
BEAM3L will
have a 1-for-100 reverse split. After the split is completed, the number
of ETF shares held by users will become 1/100 that before the split ,
and the unit value will be 100 times that before the split.
ONT3L
will have a 1-for-100 reverse split. After the split is completed, the
number of ETF shares held by users will become 1/100 that before the
split , and the unit value will be 100 times that before the split.
Before the reverse split, Gate will temporarily suspend these ETF trading markets and cancel any open orders.
After the reverse split is completed, Gate will resume these ETF
trading markets. Please note, the price will fluctuate around the new
unit value after the split. Users should pay close attention when
placing their orders.
After the reverse split, the candlestick
chart will have a leap. You may use split-adjusted functionalities to
get a smooth chart.

About Leveraged ETF

The leveraged ETF
product re-balances to a target leverage if a certain criterion is
triggered. When it re-balances, profit will be used to expand the
position while the loss will lead to decrease of the position. When
trading with ETFs, you do not have to pay a margin. You can simply buy
and sell it to enjoy increased exposure like you are trading with
leverage. ETF products are managed and hedged in the perpetual contract
market. We charge a management fee daily to compensate for the funding
payment and trading fee which is incurred at perpetual contract markets.
No extra funding fee is charged. By optimizing the fund management, the
cost and risks for you to get leveraged exposure are significantly
reduced.

Risk Warning

Digital currency prices are
susceptible to high volatility, which is even more tangible for the
leveraged ETF products. Therefore there is a risk to suffer amplified
loss. Please fully understand the product and risks involved before
trading. Furthermore, the change of an ETF product is not always about
the target times of the underlying asset over a certain time span as the
result of scheduled or irregular re-balancing. An ETF product is hedged
in a perpetual contract market, the profit will expand the position and
the loss will decrease the position, which will incur greater friction
in a swinging market. Due to the rebalancing mechanism and the holding
cost, the ETF is not suitable for long term holding. It has greater
fluctuation and higher risk. Please be cautious. For more details,
please read instructions about Leveraged ETFs at our Help Center.

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Gate Team

Feb 18th, 2022

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