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_WCT (PRE_WCT) on Feb 5, 2025. Details are as follows:
New PreToken
Name: PRE_WCT
Time: 08:00, Feb 5, 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_WCT
The services of the WalletConnect Network resemble traditional Web2 off-chain infrastructure more than blockchain technology. It offers web services that require state management, with operations that demand low latency and high throughput. There were no ready-made permissionless systems available that had been proven at scale and could meet these latency requirements. This is why WalletConnect integrated concepts from both the blockchain and database realms when developing the Network.
PRE_WCT is a PreToken under Pre-Token Trading for predicting the spot price of WCT, which will fluctuate based on market expectations of WCT’s price movements following its listing on the Spot market. By pre-minting and trading PRE_WCT, users can predict the price movements of WCT following its listing on the spot market. The trading price of PRE_WCT does not directly affect the price of WCT, both are a reflection of market expectations.
About WCT
Total Supply: 1,000,000,000
Investment institutions: 1kx, Union Square Ventures, Shopify, Coinbase Ventures
Token application: WCT is the native token of the WalletConnect Network, securing the network through staking, rewards, fees, and governance.
Token distribution: The initial supply of WCT tokens is capped at 1 billion, with allocations aimed at supporting the network's growth and sustainability. These allocations are as follows:
Core Development: 7%
Rewards: 17.5%
Airdrops: 18.5%
Team: 18.5%
Previous Backers: 11.5%
WalletConnect Foundation: 27%
How to Participate
1. If you assume the WCT spot price may go up after its listing on the Spot market, you can purchase PreTokens in the trading market and WCT 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 WCT 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_WCT is a reflection of market expectations and can be highly volatile. Please carefully evaluate your risk tolerance before participating.
PreToken Info
Name: PRE_WCT
Ticker: PRE_WCT
Pre-minting time: 08:00 Feb 5, 2025 (UTC)
Pre-minting price: 1.5 USDT
Trading Info
Trading Start: 08:30 Feb 5, 2025 (UTC)
Trading Pair: PRE_WCT/USDT
Opening Method: Call Auction
(1) Call Auction
08:30 - 08:50, Feb 5, 2025 (UTC): Orders can be placed and canceled
08:50 - 09:00, Feb 5, 2025 (UTC): Orders can be placed but not canceled
(2) Trading
09:00 Feb 5, 2025 (UTC): Trading available
AMM: PRE_WCT 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 WCT 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 5, 2025