Bitget pre-market trading: Vertus (VERT) is set to launch soon
We're thrilled to announce that Bitget will launch Vertus (VERT) in pre-market trading. Users can trade VERT in advance, before it becomes available for spot trading. Details are as follows:
Start time: 20 December, 2024, 9:00 (UTC)
End time: TBD
Spot Trading time: TBD
Delivery Start time: TBD
Delivery End time: TBD
Pre-market trading link: VERT/USDT
Bitget Pre-Market Introduction
Delivery method: Coin settlement, USDT settlement
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Coin settlement
Starting from the project's delivery start time, the system will periodically execute multiple deliveries for orders under the Coin Settlement mode. Sell orders with sufficient spot balances will be filled with corresponding buy orders. If there are insufficient project tokens or if sellers voluntarily choose to default, compensation with security deposits will not be triggered immediately. At the project's delivery end time, the system will either deliver or compensate any remaining undelivered orders.
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USDT settlement
For orders under the USDT Settlement mode, all delivery will be executed at the delivery end time of the project.
The delivery time for the pre-market project will be announced once the coin's spot listing time is confirmed. Stay tuned to relevant notifications and announcements for the latest information.
Example:
The user buys 10 tokens at 10 USDT (the filled order is called Order A) and sells 10 tokens at 15 USDT (the filled order is called Order B).
At delivery time, the system calculates the delivery execution price based on the average index price from the last minute. Assuming the execution price is 5 USDT, the calculations are as follows:
PnL of Order A = (5 – 10) × 10 = –50 USDT
PnL of Order B = (15 – 5) × 10 = 100 USDT
The total PnL for the user in pre-market trading is 50 USDT.
For USDT settlement, orders are settled at the average index price from the last ten minutes as the delivery execution price, determined by a weighted average of prices at leading exchanges to ensure fairness and transparency.
Introduction
Vertus Foundation is dedicated to making cryptocurrency accessible and user-friendly. With over 7,5 million users, including 1.2 million daily active users and 3 million social media followers, we’re proud to hold 3rd place in the Ton Open League, hosted by the TON Foundation.We aim to break down barriers in the crypto world by focusing on accessibility and simplicity. Our custodial wallet within the Telegram Mini App allows users to register and create a wallet with just one click, eliminating the need for advanced technical knowledge. This integration helps users easily claim their first token and immerse themselves in the crypto world.To comply with our aims of making crypto accessible to everyone, we are developing a range of DeFi products, including a decentralized exchange and a freelance platform, all within Telegram mini apps. These products will utilize the VERT token, giving it real utility. The first product is set to be released by the end of 2024.
VERT Total supply: 1,200,000,000
FAQ
What is pre-market trading?
Bitget pre-market trade is an over-the-counter trading platform specializing in providing a pre-traded marketplace for new coins before their official listing. It facilitates peer-to-peer trading between buyers and sellers, enabling them to acquire coins at optimal prices, secure liquidity in advance, and complete delivery at a mutually agreed upon time.
What are the advantages of Bitget pre-market trading?
Investors often have expectations regarding the price of a new coin before spot trading becomes available. However, they may be unable to purchase the coin at their preferred price and secure liquidity in advance due to lack of access. In response to this, Bitget pre-market trading offers an over-the-counter (OTC) platform where buyers and sellers can establish orders in advance to execute trades as desired and complete delivery later. In this scenario, sellers are not required to own any new coins; instead, they only need to obtain sufficient new coins for delivery before the designated delivery time.
How are pre-market trades deliveries completed?
Coin Settlement orders: Sellers can choose to either deliver the tokens or compensate with security deposit before the delivery execution. Starting from the project's delivery start time, the system will periodically execute multiple deliveries for orders under the Coin Settlement mode. Sell orders with sufficient coin balances will be filled with the corresponding buy orders. If there are insufficient project tokens or if sellers voluntarily choose to default, compensation with security deposits will not be trigger immediately.At the delivery end time of the project, the system will settle all remaining orders, either through buy delivery or compensation. If there is a sufficient balance, the corresponding quantity of tokens will be transferred to the buyer's spot account, and the buyer's frozen funds will be transferred to the seller's spot account as payment. Otherwise, the transaction will be canceled. In this case, the system will unfreeze the buyer's funds and compensate the buyer with the seller's frozen security deposit.
USDT Settlement orders: All deliveries will be executed at the project's delivery end time. Orders are settled at the average index price over the last ten minutes, which serves as the delivery execution price. Profits and losses are calculated based on the difference between the execution price and the delivery execution price. The losing party will pay the difference to the winning party.
Note:
1) The system will execute deliveries in chronological order based on the transaction time of the orders. If you have both buy and sell orders in Coin Settlement mode, the quantities cannot offset each other. Please ensure that your spot account has a sufficient available balance for the sell orders at the time of delivery. Orders with insufficient balance will be treated as the seller's default.
2) For coin settlement orders, only tokens available in your spot account will be used for delivery. Tokens frozen in pending orders or held in other accounts will not be used for delivery.
3) The delivery is expected to be completed within one hour. To mitigate the risk of delivery failure due to insufficient funds, the seller of coin settlement orders should refrain from any transactions involving the delivery currency within 30 minutes after the delivery initiation.
How can I make a pre-market trade as a seller?
As a seller, you are required to use the USDT in your spot account to pay the margin. You can list your new tokens on the order market at your preferred price via Post Order, or you can find a suitable buy order on the order market and sell it to the buyer at the buyer's asking price. Once the order is filled, you just need to wait for the delivery.
How can I make a pre-market trade as a buyer?
As a buyer, you are required to use USDT from your spot account to pay for the trade. Using the Place Order function, set the quantity of coins you want to buy at your preferred price and list the maker order in the order market. Bitget will then lock the funds for the purchase and handle any related fees. Alternatively, you can directly select a sell order from the marketplace and buy the coins at the seller's designated price. Once the order is filled, simply await delivery.
Do I have to fill the entire maker sell/buy order at once in pre-market trading?
No, the platform allows you to trade any quantity of coins as long as it meets the minimum transaction limit.
Disclaimer
Cryptocurrencies are subject to high market risk and volatility despite high growth potential. Users are strongly advised to do their research as they invest at their own risk. Thank you for supporting Bitget!
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