WAVES 3 times Short (WAVES3S) is a tradable product that tracks three times the daily profit of WAVES. Users shall pay attention to the gap between the actual net value of the product and the latest price when placing an order. We usually rebalance the investment portfolios behind the leveraged ETF in every 24 h. When there is a sharp fluctuation and the underlying asset ’s fluctuation exceeds a given threshold compared to the previous rebalance point (initially we set the threshold for 3x leverage short and long as 15%. In the future, if other leverages available, the threshold may be adjusted.), we will perform temporary rebalancing to control the risk of the investment portfolio. The Leveraged ETF assets with net value of each share lower than 0.1 USDT will be combined. After combination, user’s total asset will not be affected at all. If you put the order in the opposite direction, there is a risk that the price will approach zero in extreme conditions. This product subjects to the derivative with high risk. Please watch out the risk in investment.