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      Gate.io Announcement on Launching the Pre-Market Trade to bitSmiley(BIT)

      Gate.io launched Pre-Market Trading for bitSmiley(BIT) on May 15th, 2024.

      Delivery Schedule: Please refer to the trading page for the specific details of the delivery time.Pre-Market Trading Page: https://www.gate.io/pre-market/BIT

      Note: Please always pay attention to the delivery schedule and complete delivery on time. Failure to comply with the delivery schedule may result in the loss of collateral.

      About bitSmiley(BIT):bitSmiley is a Bitcoin-native Defi project co-invested by OKX Venture and ABCDE. As the first stablecoin project in the BTC DeFi ecosystem, bitSmiley has innovated in both application design and protocol layers. Its groundbreaking Fintegra framework comprises three main components: a decentralized overcollateralized stablecoin protocol, a native trustless lending protocol, and the on-chain derivatives protocol.

      bitSmiley will initially introduce bitUSD, a native overcollateralized stablecoin on the Bitcoin blockchain, addressing the lack of stable price-pegging tools. Users can generate bitUSD by overcollateralizing their BTC, allowing participation in all BTC blockchain DeFi protocols. Each bitUSD is backed by overcollateralized BTC, ensuring stability and user asset security through a robust liquidation and repayment syste

      Official Website | WhitepaperBIT Max Supply: 210,000,000

      Gate.io Pre-Market Trading Introduction as follows:

      What is Gate.io Pre-Market Trading?

      Gate.io Pre-Market Trading is an Over-the-Counter (OTC) trading service that allows investors to buy and sell new tokens before their official listing. It enables users to set prices and trade tokens at anticipated rates before public trading begins.

      Read MoreFAQ about Pre-Market TradingPre-Market Trading Guide

      Key benefits of Pre-Market Trading

      It offers investors the chance to potentially acquire trending tokens at lower costs compared to the market listing price, providing a competitive edge in pricing.

      How to conduct Pre-Market Trading?

      On Gate.io Pre-Market Trading, traders can buy or sell specific tokens before its officially listing. Traders can choose to be a Maker, creating orders with preset prices, or be a Taker, matching active orders on the platform. Refer to the Pre-Market Trading Beginner's Guide for more details.

      Note: Both buyer and seller need to pay trading fees in advance. Sellers are required to pay a collateral amount based on the collateral rate to ensure timely settlement. The collateral will be refunded after the delivery is successful. All transactions are priced in USDT.*

      Now, let’s take a look the two different roles in Pre-Market Trading.

      Notes:1.Only unfilled orders can be canceled, orders cannot be canceled once matched with a counterparty.2.Unfilled orders will be automatically canceled after the Pre-Market trading ends.

      Terms Explained

      Changes in Token Listings on Gate.io

      (1) If there's a listing delay, executed Pre-Market trading orders stay valid. New delivery times will be notified through Gate.io announcements and emails.(2) If the listing is canceled, all Pre-Market trading orders are voided. Users receive refunds for frozen collateral within a working day, with no trading fees charged.

      Fee Structure

      **Transaction Fee: **The transaction fee rate applies to the total order value of matched orders. Check the latest rates on the trading page.Other Fees: If the seller misses the delivery time, a 10% collateral will be retained as a fee by the platform, with the remaining 90% compensated to the buyer.

      Disclaimer

      Please note that Pre-Market trading carries various risks, including limited liquidity, large bid-ask spreads, and price uncertainty.

      Read the original article at gate-io

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