Bitget pre-market trading: Hamster Kombat Futures Coin (HMSTRBG) is set to launch soon

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Bitget Announcement2024/06/21 05:00

By:Bitget Announcement

We're thrilled to announce that Bitget will launch Hamster Kombat Futures Coin ( HMSTRBG) in pre-market trading. Users can make pre-market trades of HMSTRBG in advance, before HMSTR becomes available for pre-market trading. Details are as follows: Start time: June 21, 2024, 8:00 (UTC) End time: Sep

Start time: June 21, 2024, 8:00 (UTC)

End time: September 13, 2024, 6:00 (UTC)

HMSTRBG will not be listed for spot trading.

Delivery procedures:

Bitget will start the pre-market trading of HMSTR after confirming its total supply.
Completed HMSTRBG pre-market trades will be transferred to the HMSTR pre-market trading. The transfer does not change the volume of the HMSTRBG pre-market orders, but will scale the coin quantity and price based on the total supply of HMSTRBG and the total supply of HMSTR.
Bitget will later announce the pre-market delivery time for HMSTR and complete the delivery.

Note: If the HMSTR token could not be launched due to special circumstances, Bitget will terminate all HMSTRBG pre-market orders and unlock the margins of both the sellers and the buyers for compensation, while protecting users' interests.

Introduction

To further support the innovation and development of GameFi, Bitget is launching the Hamster Kombat Futures Coin ( HMSTRBG) in pre-market trading.

Why are we launching Hamster Kombat Futures Coin?

As the Hamster Kombat project team has not yet announced its tokenomics, the total supply of Hamster Kombat Tokens remains unknown. Bitget launches the Hamster Futures Coin as the representation token for the pre-market trading, with a total supply set at 10 billion tokens.

2. How will the trades be settled after Hamster Kombat's TGE?
When Hamster Kombat is officially listed, Bitget will convert Hamster Kombat Futures Coin to Hamster Tokens for pre-market delivery based on the actual tokenomics. The volume of orders filled by the user in the Hamster Kombat Futures Coin pre-market trading will remain unchanged, but the coin quantity and price of the coins will be scaled.

For example: User A buys 5000 Hamster Kombat Futures Coin at the price of 0.2 USDT, with a total order value of 1000 USDT.

If the total supply of HMSTR turns out to be 100 billion, the coin price in the order will be 0.02 USDT, and the coin quantity will be scaled up to 50,000 HMSTR.

If the total supply of HMSTR turns out to be 10 billion, then the coin price in the order will be 0.2 USDT, and the coin quantity will be 5000 HMSTR.

If the total supply of HMSTR turns out to be 1 billion, the coin price in the order will be 2 USDT, and the coin quantity will be scaled down to 500 HMSTR.

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, simply await 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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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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