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_HYPE (PRE_HYPE) on Dec 9, 2024. Details are as follows:
New PreToken
Name: PRE_HYPE
Time: 8:00, Dec 9, 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_HYPE
Hyperliquid is a high-performance Layer 1 blockchain designed to support an open, fully on-chain financial ecosystem. Utilizing a custom consensus algorithm known as HyperBFT, it achieves block latency of under 1 second and can handle up to 100,000 orders per second. Its primary application is the Hyperliquid DEX, an on-chain order book perpetuals exchange, with plans to introduce additional features such as a native token standard, spot trading, and permissionless liquidity.
PRE_HYPE is a PreToken under Pre-Token Trading for predicting the spot price of HYPE, which will fluctuate based on market expectations of HYPE’s price movements following its listing on the Spot market. By pre-minting and trading PRE_HYPE, users can predict the price movements of HYPE following its listing on the spot market. The trading price of PRE_HYPE does not directly affect the price of HYPE, both are a reflection of market expectations.
How to Participate
1. If you assume the HYPE 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 HYPE 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_HYPE is a reflection of market expectations and can be highly volatile. Please carefully evaluate your risk tolerance before participating.
PreToken Info
Name: PRE_HYPE
Ticker: PRE_HYPE
Pre-minting time: 8:00 Dec 9, 2024 (UTC)
Pre-minting price: 75 USDT
Trading Info
Trading Start: 8:30 Dec 9, 2024 (UTC)
Trading Pair: PRE_HYPE/USDT
Opening Method: Call Auction
(1) Call Auction
8:30 - 8:50, Dec 9, 2024 (UTC): Orders can be placed and canceled
8:50 - 9:00, Dec 9, 2024 (UTC): Orders can be placed but not canceled
(2) Trading
9:00 Dec 9, 2024 (UTC): Trading available
AMM: PRE_HYPE 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 HYPE 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 75 USDT, the delivery is capped at 75 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
Dec 9, 2024