Coming soon:
The $LIT /USDT pair will be suspended on 2025-02-10 08:00 UTC+5 due to an upgrade/re-split.
What does this mean?
The message means that the trading platform will temporarily stop trading on the **$LIT /USDT** pair on the specified date and time (February 10, 2025 at 08:00 UTC+5) due to a **technical upgrade** or **split** operation. Here is the detailed explanation:
**1. What does “husband suspension” mean?**
- **Trading Temporarily Suspended:** You will not be able to buy or sell $LIT for USDT on the platform during this period.
- **Reason:** This is usually done when there are significant changes to the currency, such as technical upgrades, blockchain network changes, or supply restructuring.
**2. What does "upgrade/repartition" mean?**
A. **Upgrade:**
- May include:
- Transfer the currency to a new blockchain network (example: from ERC-20 to BEP-20).
- Major technical improvements (e.g. smart contract upgrade).
- **What you should do:**
- If the currency is stored in the platform's wallet, the platform will usually complete the upgrade automatically.
- If it is in an external wallet (such as MetaMask), you may need to follow the team's instructions to swap tokens.
B. **Split:**
- **Similar to a stock split:** Increasing the number of tokens in circulation while decreasing the price of each token (without changing the total market cap).
- Example: If the price of lit = $10 and you divide 1:10, the price of the token becomes $1, and each user has 10 tokens instead of 1.
- **Objective:** To improve trading liquidity and make the price more suitable for small investors.
- **What you should do:**
- Nothing in most cases, the platforms adjust the balance automatically.
**3. What happens to my money?**
- **Fund Security:** Your funds will not disappear, but will be temporarily **frozen** until the process is complete.
- **After completion:**
- If **upgraded**: You may need to withdraw tokens to a new network (as per platform instructions).
- If it is a **re-split**: Your balance and account will be adjusted automatically (example: from 100 tokens to 1000 tokens).
**4. Important tips:**
1. **Follow official announcements:** Check the platform’s website or the official communication channels of the currency ($LIT) for exact details.
2. **Don't trade before the close:** Avoid trading at the last minute before the close to avoid any price surprises.
3. **Backup your data:** Keep your trading and wallet records as proof in case of any dispute.
**Practical example:**
- If you own **100 $LIT** tokens at $5 each ($500 total):
- After re-division 1:5:
- You will have **500 tokens** (100 x 5).
- The price of the new token will be $1 (5 ÷ 5).
- Total value remains **$500** (no profit, no loss).
### **Conclusion:**
The procedure is routine and often occurs to improve the performance of the currency or expand its scope. There is no need to worry, but make sure you understand the details of the official announcement! 🛠️