CoinEx announced the launch of Pre-Token Trading, an innovative service set to redefine how users interact with cryptocurrency markets. This cutting-edge feature enables the pre-minting, trading, and delivery of PreTokens by staking assets, allowing users to seize opportunities before the official release of popular new tokens or major events.
How CoinEx Pre-Token Trading Works
PreTokens are backed by collateral, USDT. For instance, the user wants to anticipate the U.S. presidential election results. The user can issue a “PRE_TRUMP” PreToken by staking USDT to pre-mint the PreTokens. Once trading begins, all users, including the pre-minters, can buy and sell these PreTokens in the spot market, similar to standard trading practices.
3 stages in Pre-Token Trading:
- Pre-mint: Users can stake assets to pre-mint Pre-Tokens. Also, they can also redeem their Pre-Tokens.
- Trade/Hold: After the PreToken trading starts, users can buy or sell them in the spot market of these PreTokens.
- Deliver: When a Pre-Token Trading project concludes, CoinEx will initiate the delivery process. Meanwhile, all pre-minting, redeeming, and trading services will be terminated. The system then captures a snapshot of all user assets and performs delivery at a fair price.
3 Pre-Token Trading Key Participants:
- Pre-minters: Users who stake assets to mint PreTokens.
- Holders: Users who purchase PreTokens during trading.
- CoinEx Delivery: The platform responsible for the final settlement of PreTokens.
Pre-Token Trading Fee Structure (in USDT):
- Pre-minting: Free
- Trading: Spot market rates, with VIP discounts applicable
- Redeeming: 2%, based on the latest futures market price × redeeming amount
- Delivery:
- Pre-minters: Delivery price × pre-minted amount × 1%
- Holders: Delivery price × held amount × 1%
Tokens are delivered directly to pre-minters and holders spot account upon delivery, with holders incurring a 1% delivery fee. CoinEx reserves the right to initiate early settlement if the off-platform market price significantly deviates from the pre-minted price or in response to early announcements or unexpected events.
Why Choose Pre-Token Trading on CoinEx?
Pre-Token Trading offers a user-friendly experience, allowing participants to engage either as pre-minters or holders, depending on their trading strategies. The service is versatile, supporting PreTokens tied to both unreleased projects and future events, providing more investment opportunities for users to diversify their investment profiles, meeting the needs of various user groups.
Additionally, CoinEx incorporates robust risk management, continuously monitoring external market conditions to trigger early settlements when necessary, safeguarding user interests.
Understanding the Risks: Volatility, Liquidity, and Market Manipulation
While Pre-Token Trading opens up new opportunities, it also presents potential inherent risks. High volatility driven by speculation which might result in significant price swings. Liquidity risks also exist, potentially making it difficult to find buyers or sellers. Moreover, smaller or less regulated markets are more susceptible to market manipulation, leading to mispricing and unexpected losses for retail investors.
Expansion of CoinEx Ecosystem
With the launch of Pre-Token Trading, CoinEx continues to innovate in the cryptocurrency space, reinforcing its role as a leading cryptocurrency exchange while providing users with new opportunities for profit and engagement in the market.
About CoinEx
CoinEx, it is renowned for its efficient and reliable cryptocurrency trading platform, providing users access to various trading pairs and features. Supports over 1,700 trading pairs with 1,200 cryptocurrencies, with over 10 million registered users across more than 200 countries, CoinEx’s dedication to user satisfaction and steady rise have solidified its position as a trusted and enduring player in the crypto world. Recently, CoinEx was rated by the media as one of the Top Crypto Exchanges in 2024, showcasing a shared vision of fostering innovation and expanding the cryptocurrency landscape.
