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_KERNEL (PRE_KERNEL) on Feb 18, 2025. Details are as follows:
New PreToken
Name: PRE_KERNEL
Time: 08:00, Feb 18, 2025 (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_KERNEL
Kernel DAO envisions restaking as a transformative force in Proof-of-Stake (PoS) ecosystems. By unlocking shared security and additional reward generation, restaking enables greater capital efficiency and 10x cheaper crypto-economic security. Kernel Dao, offers 3 product categories - each positioned strategically within the ‘restaking stack’ to address distinct market needs and to provide a strong foundation for expansion into multi-billion dollar opportunity verticals.
PRE_KERNEL is a PreToken under Pre-Token Trading for predicting the spot price of KERNEL, which will fluctuate based on market expectations of KERNEL's price movements following its listing on the Spot market. By pre-minting and trading PRE_KERNEL, users can predict the price movements of KERNEL following its listing on the spot market. The trading price of PRE_KERNEL does not directly affect the price of KERNEL, both are a reflection of market expectations.
About KERNEL
Total Supply: 1,000,000,000
Funding Information: November 25, 2024, raised $1 million, YZi Labs.
Token application:
Core Utilities
Governance: KERNEL holders can actively participate in decision-making processes for all three major products—Kelp LRT, Kernel Infrastructure, and Gain. Governance decisions can include protocol upgrades, allocation of funds, and new partnerships.
Restaking: Users can restake KERNEL to provide shared economic security for the Kernel ecosystem, middleware, and decentralized applications.
Rewards: Token holders can earn staking rewards from partner protocols and middleware.
Expanded Utilities
Liquidity Provision: Users can provide KERNEL liquidity on automated market makers (AMMs) and earn additional rewards.
Insurance Mechanisms (Future Use Case): KERNEL staking will support an insurance layer to safeguard against slashing events in rsETH (LRT) and Kernel.
Token distribution:
The KERNEL token distribution emphasizes community-first principles, allocating the majority of tokens to the users and ecosystem participants.
- Community & Ecosystem Partners (60%)
55% for Community Rewards & Airdrops.
20% for airdrops across multiple seasons.
35% for future rewards to incentivize ecosystem engagement.
5% for Ecosystem Partners, initiatives like market making and on-chain liquidity.
- Private Sale (20%) for completed and upcoming strategic sales.
- Team & Advisors (20%) with a 24-month vesting period following a 6-month lock-up post-TGE.
How to Participate
1. If you assume the KERNEL spot price may go up after its listing on the Spot market, you can purchase PreTokens in the trading market and KERNEL 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 KERNEL 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_KERNEL is a reflection of market expectations and can be highly volatile. Please carefully evaluate your risk tolerance before participating.
PreToken Info
Name: PRE_KERNEL
Ticker: PRE_KERNEL
Pre-minting time: 08:00 Feb 18, 2025 (UTC)
Pre-minting price: 1.5 USDT
Trading Info
Trading Start: 08:30 Feb 18, 2025 (UTC)
Trading Pair: PRE_KERNEL/USDT
Opening Method: Call Auction
(1) Call Auction
08:30 - 08:50, Feb 18, 2025 (UTC): Orders can be placed and canceled
08:50 - 09:00, Feb 18, 2025 (UTC): Orders can be placed but not canceled
(2) Trading
09:00 Feb 18, 2025 (UTC): Trading available
AMM: PRE_KERNEL 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 KERNEL 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 1.5 USDT, the delivery is capped at 1.5 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
Feb 18, 2025