Pre-Market

Pre-Market allows users to stake USDT to mint PreTokens so that they can get early access to trade them in the PreToken spot market.

Users can mint PreTokens and trade them in the PreToken spot market before it is officially listed and earn returns in advance. After the token is listed and can be deposited, minters can deposit the tokens to complete delivery and unstake USDT.

Users can mint PreTokens and then trade them in PreToken spot market or you can directly buy or sell those already minted in the markets during the phase of Pre-Market trading. Before the end of Pre-Market trading, the entries to the minting service and the PreToken spot market will be closed. By the end of the Pre-Market trading, the system will take a snapshot of the PreTokens users are holding and then clear the balance to avoid confusion.

PreMinters need to prepare real tokens for delivery during the delivery period. After a successful delivery, the staked USDT will be returned to your account. If delivery fails, you won't get your staked assets back.

traders in the PreToken spot market can choose to sell the PreToken to earn returns before the PreToken spot market is closed, or you can buy and hold the PreToken and wait for the settlement; after the delivery completes, the system will conduct a settlement for users holding the PreToken. These holders will receive tokens delivered by minters and the staked assets due to failed delivery.

The delivery process is similar to that of Pre-Market Trading. To complete the delivery, PreMinters need to make sure there's sufficient account balance of the real token before the delivery. The system will deduct the real tokens from the account and return the staked assets to the account.

After the delivery completes, the system will conduct a settlement for users holding the PreToken based on the snapshots taken. After the settlement, these users will receive real tokens from delivery and staked assets from failed delivery. If all PreMinters complete delivery, holders will receive the same amount of token as recorded in the snapshots; however, if all PreMinters fail to deliver, the staked assets will be divided proportionally and sent to holders.

If the token listing is delayed, the pre-minted orders are still valid and you need to wait for the announcement of a new delivery time. If the token listing is canceled, the system will take snapshots and conduct a settlement for users holding the PreToken and the staked assets will be divided proportionally and sent to holders.