Dear CITEX users:
During the period from 23:00 on August 17, 2020 (UTC+8) to 04:00 on August 18, 2020 (UTC+8), FIL3L-USDT and FIL3S-USDT fluctuated significantly. We are here to explain the fluctuations.
FIL3L-USDT and FIL3S-USDT are exchange index funds issued by CITEX that track FIL triple long and triple short yields. We select FILUSDT perpetual on OKEX for asset allocation for fund holders. For contract products, during the period from 23:00 on August 17, 2020 (UTC+8) to 04:00 on August 18, 020 (UTC+8), the FILUSDT perpetual contract products on the OKEX experienced large abnormal fluctuations. During the period, the lowest price reached 16.72, the highest reached 28.02, and there was a large fluctuation in the market for 5 consecutive hours. The quantitative team that manages FIL3L-USDT and FILES-USDT of CITEX has been performing position adjustment for users to ensure that users’ ETF so that it can track the return rate of about three times, so there is a large loss of leverage.
Due to the high liquidity risk of FIL, users are reminded that during the trading of FIL3L-USDT and FIL3S-USDT perpetual contracts, they need to reduce their positions, take profit and stop loss etc. to control risk.
Thanks for your understanding and support.
August 18, 2020