Bitget pre-market trading: Orderly Network (ORDER) is set to launch soon

We're thrilled to announce that Bitget will launch Orderly Network (ORDER) in pre-market trading. Users can trade ORDER in advance, before it becomes available for spot trading. Details are as follows:

Start time: 31 July, 2024, 10:00 (UTC)

End time: 26 August, 2024, 09:30 (UTC)

Spot market listing time: 26 August, 2024, 10:00 (UTC)

Delivery time: 26 August, 2024, 22:00 (UTC)

Pre-market trading link: ORDER/USDT

Introduction

Orderly Network is a combination of an orderbook-based trading infrastructure and a robust liquidity layer offering spot and perpetual futures orderbooks. Unlike traditional platforms, Orderly doesn’t have a front end; instead, it operates at the core of the ecosystem, providing essential services to projects built on top of it.

ORDER total supply: one billion tokens

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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?

The system will pre-freeze the funds required for the current order between the buyer and seller as a transaction guarantee. Prior to the delivery time, the seller must ensure that their spot account holds the required amount of new tokens; otherwise, the transaction will be canceled. Similarly, the system will unfreeze the buyer's funds and compensate the buyer with the seller's frozen margin.

Once the delivery is completed, 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 after deducting the transaction fee.

Note:

(1) Upon reaching the delivery time, the system will execute the delivery according to the transaction time in sequence, which is expected to be completed within one hour. The seller should refrain from any transactions involving the delivery currency funds within 30 minutes after delivery initiation to mitigate the risk of delivery failure due to insufficient funds.

(2) If you have both buy and sell orders, ensure that your spot account holds the required quantity of the sell order currency at the time of delivery. Orders with insufficient balance will be processed using the "compensate with margin" approach.

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!