**Update: Exchange feature for AMZN has been reopened. Users are now able to trade.
According to Amazon’s plan, and based on the latest announcement from the FTX exchange – where ONUS takes liquidity for tokenized shares, Amazon (AMZN) will perform a token split and migrate to the new AMZN in the ratio of 20:1.
To support this token split, ONUS has halted all features for AMZN assets, including Off-chain, Exchange, and Credit Line.
After the maintenance period, the entire amount of AMZN in circulation before June 5, at 09:00 PM UTC will be converted to new AMZN tokens at a ratio of 20:1 (1 old AMZN = 20 new AMZN). Accordingly, users will receive more AMZN token to reach the 20x amount.
Maintenance time: From 06:00 UTC on June 06.
All features of AMZN assets are expected to be reopened at the time when the migration is complete. ONUS will make an announcement.
About tokenized stock
Currently, ONUS is listing tokenized stocks – stocks that are traded on traditional exchanges, and those that are tokenized and listed on the FTX exchange. These tokens are backed by securities shares that are overseen by CM-Equity, and they can be redeemed with CM-Equity if desired.
ONUS presents as a support platform to transfer users’ buy/sell orders to the FTX exchange.