Dear CoinEx Users,
Pre-token Trading is an innovative service that enables pre-minting (creating), trading, and delivering PreTokens by staking assets. CoinEx Pre-Token Trading will launch PRE_PAULWIN (PRE_PAULWIN) on Nov 12, 2024. Details are as follows:
New PreToken
Name: PRE_PAULWIN
Time: 8:00, Nov 12, 2024 (UTC)
Services: Pre-minting, Trading
Access
Web: Navigation Bar - Spot Trading - Pre-Token Trading
App: CoinEx App Homepage - More - Pre-Token Trading
About PRE_PAULWIN
PRE_PAULWIN represents Jake Paul to win the boxing match against Mike Tyson starting at 01:00 (UTC) on Nov 16, which will be streamed live on Netflix. The price of this PreToken will fluctuate during the match and expectations of the competing parties' victories. Before the champion is determined, the price of PRE_PAULWIN will be below 1 USDT. However, if the market believes Jake Paul has a 60% chance of winning, the price might be adjusted to 0.6 USDT. In such case, the market price of this PreToken reflects the market expectations of the competing parties' victories.
After the match, CoinEx will deliver PRE_PAULWIN based on the result of this boxing match between Jake Paul and Mike Tyson. If Jake Paul wins, the PreToken will be delivered at 1 USDT; 0 if he loses.
How to Participate
1. If you assume Jake Paul will win, you can purchase PreTokens in the trading market and hold until delivery. In this case, your PreTokens will only apply to position delivery applicable.
- Final Profit = Position delivery amount* - Purchase cost
Position delivery amount = Held quantity * Delivery price - Delivery fee
2. If you assume Jake Paul will lose, you may need to pre-mint PreTokens first, sell them in the trading market, and wait for delivery. In this case, your PreTokens will apply to both position delivery and pre-minting delivery.
- Final Profit = Pre-minting delivery amount* + Position delivery amount* + Revenue from selling - Collateral cost
Pre-minting delivery amount = Staked amount - Final pre-minted quantity * Delivery price - Delivery fee
Position delivery amount = Held quantity * Delivery price - Delivery fee
Please note that if Jake Paul loses the match, the value of PRE_PAULWIN will drop to zero. Please carefully evaluate your risk tolerance before participating.
PreToken Info
Name: PRE_PAULWIN
Ticker: PRE_PAULWIN
Pre-minting time: 8:00 Nov 12, 2024 (UTC)
Pre-minting price: 1 USDT
Trading Info
Trading Start: 8:30 Nov 12, 2024 (UTC)
Trading Pair: PRE_PAULWIN/USDT
Opening Method: Call Auction
(1) Call Auction
8:30 - 8:50, Nov 12, 2024 (UTC): Orders can be placed and canceled
8:50 - 9:00, Nov 12, 2024 (UTC): Orders can be placed but not canceled
(2) Trading
9:00 Nov 12, 2024 (UTC): Trading available
AMM: PRE_PAULWIN supports AMM, allowing any CoinEx user to become a market maker by providing liquidity and earn 50% of trading fees of the market, calculated on a daily basis. Learn more about AMM >>
Delivery Info
Delivery time: The boxing match between Jake Paul and Mike Tyson, scheduled for November 16 at 1:00 (UTC), will be streamed live on Netflix. The delivery will occur upon the official announcement of the results.
Delivery price: If Jake Paul wins the boxing match against Mike Tyson, PRE_PAULWIN will be delivered at 1 USDT; if he loses, it will be delivered at 0 USDT.
Fees
Redeeming Fee: 2%
Delivery Fee: 1%
Trading Fee: 0.3%
More Info
Risk Warning
Please ensure you fully understand the rules and the project of Pre-Token Trading before participating. Pre-Token Trading is highly speculative with significant price volatility and investment risks. We encourage you to make informed investment decisions based on your understanding of cryptocurrency and careful assessment of your investment capacity.
CoinEx Team
Nov 12, 2024