Dear BigONE users,
Since the first day BigONE launched leveraged ETF products, users are attracted by the unique trading model and fluent trading experiences.
On April 16 of 2021, Beijing time, because of the DOGE spot price had a great rising, the trading emotion was lightened up. Affected by market conditions, the BigONE leveraged ETF product DOGE3S got a large number of users intensively buy in a short period of time, causing the market price to deviate too much from the actual net value. This situation misled some users. When the market price deviated greatly from the net value, DOGE3S was bought at a price that deviated from the net value. As a result, when the subsequent market price returns to the net value, this part of the user has made a large loss.
After the situation happened, we changed our position and empathized with the sad and anxious emotions of the injured users, and convened an emergency meeting as soon as possible to discuss solutions. At the same time, the relevant colleagues sorted out and calculated a large amount of transaction data for buying DOGE3S during the time when the market price deviated from the net value on April 16 overnight. After referring to the principles of handling similar situations in the industry, BigONE decided to stick to its values-"Integrity, Safety, Speed, and Win-Win", we will be fully compensate the users who bought DOGE3S during the period of 2021-04-16 08:20 — 2021-04-16 22:33 (UTC+8), when the price and net value deviate too much.
In order to let everything back to normal, our customer service contacted all users who suffered loss during the period as quickly as possible. At present, most users have responded, and a small number of users have not yet responded. Please contact our customer service as soon as possible. We will distribute it to your "fund account" in the form of an airdrop on April 23, 2021. Thank you for your patience and support!
【Important Risk Reminder】
- Before transaction, please read BigONE leveraged ETF use agreement carefully；
- When trading leveraged ETF products, please clearly understand the product principle and net value mechanism to avoid unnecessary losses;
- Before placing an order, please observe whether there is a large deviation between the "price" and the "net value". If the price deviates greatly from the net value, please refrain from trading and contact customer service in time.
Net value and price display are as below:
Leveraged ETF products are characterized by unilateral market, profitable compound interest, and no margin will not liquidate their positions, but because their net value and price are two concepts, they have higher professional requirements for investors. BigONE provides leveraged ETF product enthusiasts corresponding tutorial materials, click "Help Center"-"Spot Trading"-"Leveraged ETF" to view.
During this communication with users, we were impressed by the overall quality and cultivation of most users, and we also realized the users' firm support and trust in BigONE. BigONE is deeply honored to have such reasonable users.
BigONE has not been easy along the way. Faced with many difficulties and many slanders, BigONE chooses to overcome, choose to bear, and choose to persist! ! ! Because BigONE knows that behind BigONE, there are a group of users who support and trust us, and you are the strongest backing of BigONE. Because of you, we have many difficulties in opening up the future. We are moving forward, and BigONE is always there! ! !
BigONE thank you for your long-lasting support!
Best,
BigONE Team
April 22, 2021
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