Q&A on DOGS pre-market delivery
Bitget
2024-08-23 12:00
As the DOGS project is the first project to conduct pre-market mapping, some users have raised questions and concerns. To enhance the trading experience of our users, Bitget has compiled answers to the most frequently asked questions:
Q1: Why did the pre-market filled order quantity or pending delivery quantity increase after the mapping from DOGS POINTS (DOGSPOINTS) to DOGS (DOGS)?
Mapping in pre-market trading follows the principle of maintaining the token's total market capitalization. While users trade based on the token's future market cap, the total value of executed orders remains unchanged. Since the proportion of the order quantity relative to the total pre-market token supply stays constant, the order quantity will increase or decrease according to the mapping ratio, with the token price adjusting in the opposite direction.
For example, User A sells 5000 DOGS POINTS at 0.44 USDT. The order has been filled with a total value of 2200 USDT, and a security deposit of 2200 USDT has been frozen. The 1:5.5 mapping ratio of DOGS does not affect the order value and the security deposit, both of which remain at 2200 USDT. The token delivery quantity will be increased to 5000 × 5.5 = 27,500 DOGS, and the token price will be adjusted to 0.44 ÷ 5.5 = 0.08 USDT. User A (the seller) must ensure they have an available balance of at least 27,500 DOGS in their spot account before the DOGS (DOGS) pre-market delivery. Otherwise, the delivery will fail, and they will be deemed in default.
Q2: I am a seller in pre-market trading, and now the DOGS quantity required for delivery has increased. What should I do if my available DOGS balance is insufficient to complete the delivery?
A: If you do not have enough DOGS for delivery, you can either buy DOGS through Bitget spot trading or make an on-chain DOGS deposit before the delivery starts (For this project, the pre-market delivery begins on August 26, 2024, at 16:00 (UTC), which is four hours after the opening of spot trading). Otherwise, the delivery will fail, and you will be deemed in default.
Notes:
1. Tokens bought in pre-market trading cannot be used for pre-market delivery.
2. You cannot use your own buy orders to deliver your sell orders (or vice versa). The system will settle the orders based on the order in which they are filled.
DOGS pre-market delivery timeline:
Pre-market trading end time: August 26, 2024, 11:30 (UTC)
Spot trading start time: August 26, 2024, 12:00 (UTC)
Pre-market delivery time: August 26, 2024, 16:00 (UTC)
Disclaimer
Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk.
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