Dear CoinEx Users,
CoinEx Pre-Token Trading will launch PRE_T1WIN (PRE_T1WIN) on October 29, 2024. Details are as follows:
New PreToken
Name: PRE_T1WIN
Time: 10:30, Oct 29, 2024 (UTC)
Services: Pre-minting, Trading
Access
Web: Navigation Bar - Spot Trading - Pre-Token Trading
App: CoinEx App Homepage - More - Pre-Token Trading
About PRE_T1WIN
PRE_T1WIN represents that T1, a legendary League of Legends team from the Korean LCK Region, wins The 2024 League of Legends World Championship (LoL Worlds 2024). The price of this PreToken will fluctuate based on the progress of the game and expectations of the competing teams' victories. Before the champion is determined, the price of PRE_T1WIN will be below 1 USDT. However, if the market believes T1 has a 60% chance of winning, the price might be updated to 0.6 USDT. In such case, the market price of this PreToken reflects the market expectations of the competing teams' victories.
After the finals, CoinEx will deliver PRE_T1WIN based on the result of LoL Worlds 2024. If T1 wins, the PreToken will be delivered at 1 USDT; 0 if the team loses.
How to Participate
- If you believe T1 might win, you can buy PRE_T1WIN in the spot market and hold until delivery after the final result is released.
- If you believe T1 might lose, you can pre-mint PRE_T1WIN by staking USDT, sell the PreTokens in the spot market, and wait for the delivery after the final result is released. Meanwhile, you can also redeem your pre-minted PRE_T1WIN at any time.
Delivery Rules: During delivery, the Pre-minters will make Pre-Minting Delivery, and the Holders will make Position Delivery.
Pre-minters: Pre-Minting Delivery Amount = Staked Amount - Final Pre-Minted Amount * Delivery Price) - Delivery Fee
Holders: Position Delivery Amount = Position Amount * Delivery Price - Delivery Fee
Please note that if the T1 team loses the final, the value of PRE_T1WIN will drop to zero. Please carefully evaluate your risk tolerance before participating.
PreToken Info
Name: PRE_T1WIN
Ticker: PRE_T1WIN
Pre-minting time: 10:30 Oct 29, 2024 (UTC)
Pre-minting price: 1 USDT
Trading Info
Trading Start: 11:00 Oct 29, 2024 (UTC)
Trading Pair: PRE_T1WIN/USDT
Opening Method: Call Auction
(1) Call Auction
11:00 - 11:20, Oct 29, 2024 (UTC): Orders can be placed and canceled
11:20 - 11:30, Oct 29, 2024 (UTC): Orders can be placed but not canceled
(2) Trading
11:30 Oct 29, 2024 (UTC): Trading available
AMM: PRE_T1WIN supports AMM, allowing any CoinEx user to become a market maker by providing liquidity and earn 50% of trading fees of the market, calculated on a daily basis. Learn more about AMM >>
Delivery Info
Delivery time: The delivery will occur upon the confirmation of The 2024 League of Legends World Championship winner.
Delivery price: If T1 wins The 2024 League of Legends World Championship, PRE_T1WIN will be delivered at 1 USDT; if the team loses, it will be delivered at 0 USDT.
Fees
Redeeming Fee: 2%
Delivery Fee: 1%
Trading Fee: 0.3%
More Info
Risk Warning
Please ensure you fully understand the rules and the project of Pre-Token Trading before participating. Pre-Token Trading is highly speculative with significant price volatility and investment risks. We encourage you to make informed investment decisions based on your understanding of cryptocurrency and careful assessment of your investment capacity.
CoinEx Team
Oct 29, 2024