Bitget pre-market trading: Tomarket Points (TOMA) is set to launch soon

We're thrilled to announce that Bitget will launch Tomarket Points (TOMA) in pre-market trading. Users can make pre-market trades of Tomarket Points in advance, before TOMA becomes available for pre-market trading. Details are as follows:

Start time: November 28, 2024, 13:00 (UTC)

End time: TBD

Pre-market trading link: TOMA/USDT

Tomarket Points will not be listed for spot trading.

Bitget Pre-Market Introduction

 

Delivery method: Coin settlement, USDT settlement

• 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.

 

• 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.

 

Delivery procedures:

1.Bitget will start the pre-market trading of TOMA after confirming its total supply.

2.Completed Tomarket Points pre-market trades will be transferred to the TOMA pre-market trading. The transfer does not change the volume of the Tomarket Points pre-market orders, but will scale the coin quantity and price based on the total supply of Tomarket Points and the total supply of TOMA.

3.Bitget will later announce the pre-market delivery time for TOMA and complete the delivery.

Note:

1. If, due to any unusual circumstance, TOMA cannot be listed, Bitget will terminate all Tomarket Points pre-market orders and unlock the trading margins of both parties to ensure users' interests are protected.

2. Additionally, Bitget will calculate the interest on the user's locked margin for the transaction based on the maximum APR of USDT Flexible Savings products on the day of delisting and distribute the said interest to users to cover their costs.

Introduction

Tomarket is an Incentive-Driven traffic platform to seamlessly transition Web2 users into Web3.

Users can play games, earn tokens, and trade them all in one place. We’re simplifying the move

from Web 2 to Web 3 with a smooth, integrated experience. 

Tomarket Points Total supply: 100,000,000,000

Website | Telegram

 

To further support the innovation and development of TON Ecosystem, Bitget is launching the Tomarket Points (TOMA) in pre-market trading.

1. Why are we launching Tomarket Points ?

As the TOMA project team has not yet announced its tokenomics, the total supply of TOMA Tokens remains unknown. Bitget launches the Tomarket Points as the representation token for the pre-market trading, with a total supply set at 100 billion tokens.

2. How will the trades be settled after TOMA's TGE?

When TOMA is officially listed, Bitget will convert Tomarket Points to TOMA Tokens for pre-market delivery based on the actual tokenomics. The volume of orders filled by the user in the Tomarket Points pre-market trading will remain unchanged, but the coin quantity and price of the coins will be scaled.

For example: User A buys 5000 Tomarket Points at the price of 0.2 USDT, with a total order value of 1000 USDT.

If the total supply of TOMA turns out to be 1 trillion, the coin price in the order will be 0.02 USDT, and the coin quantity will be scaled up to 50,000 TOMA.

If the total supply of TOMA turns out to be 100 billion, then the coin price in the order will be 0.2 USDT, and the coin quantity will be 5000 TOMA.

If the total supply of TOMA turns out to be 10 billion, the coin price in the order will be 2 USDT, and the coin quantity will be scaled down to 500 TOMA.

 

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, 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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