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_XION (PRE_XION) on Nov 15, 2024. Details are as follows:
New PreToken
Name: PRE_XION
Time: 8:00, Nov 15, 2024 (UTC)
Services: Pre-minting, Spot Trading
Access
Web: Navigation Bar - Spot Trading - Pre-Token Trading
App: CoinEx App Homepage - More - Pre-Token Trading
About PRE_XION
XION (XION) is a layer one blockchain that empowers builders to create consumer-friendly Web3 applications. It does this by enabling simple, frictionless experiences for users through its Chain Abstraction solution.
XION (XION) aims to address the biggest barriers to widespread Web3 adoption — given the functional and cultural barriers that exist in most Web3 products, solutions that are both user-friendly and useful are few and far between. Users shouldn’t need to understand the technical intricacies of blockchains to enjoy its benefits, just like they don’t need to understand the technical intricacies of HTTP and TCP/IP when using the apps on their phones every day. XION is committed to promoting the wider integration of Web3 applications into everyday life by optimizing the user experience.
PRE_XION is a PreToken under Pre-Token Trading for predicting the spot price of XION, which will fluctuate based on market expectations of XION’s price movements following its listing on the Spot market. By pre-minting and trading PRE_XION, users can predict the price movements of XION following its listing on the spot market. The trading price of PRE_XION does not directly affect the price of XION, both are a reflection of market expectations.
How to Participate
1. If you assume the XION spot price may go up after its listing on the Spot market, you can purchase PreTokens in the trading market and hold until delivery, at which time the delivery rule is only applicable to position delivery.
- Final Profit = Position delivery amount* - Purchase cost
Position delivery amount = Held quantity * Delivery price - Delivery fee
2. If you assume the XION spot price may go down after its listing on the Spot market, you may need to first pre-mint PreTokens, 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 the price of PRE_XION is a reflection of market expectations and can be highly volatile. Please carefully evaluate your risk tolerance before participating.
PreToken Info
Name: PRE_XION
Ticker: PRE_XION
Pre-minting time: 8:00 Nov 15, 2024 (UTC)
Pre-minting price: 20 USDT
Trading Info
Trading Start: 8:30 Nov 15, 2024 (UTC)
Trading Pair: PRE_XION/USDT
Opening Method: Call Auction
(1) Call Auction
8:30 - 8:50, Nov 15, 2024 (UTC): Orders can be placed and canceled
8:50 - 9:00, Nov 15, 2024 (UTC): Orders can be placed but not canceled
(2) Trading
9:00 Nov 15, 2024 (UTC): Trading available
AMM: PRE_XION 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 delivery will occur 4 hours after XION is listed on the spot market. The delivery schedule may be adjusted if there are any changes to the listing time.
Delivery price: The delivery price is determined by calculating the average of 1-min candlestick closing price during the hour before delivery. CoinEx may adjust the final delivery price if any market manipulation is detected during the price calculation period. If the delivery price is calculated higher than 20 USDT, the delivery is capped at 20 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 15, 2024