Gate launches Direct IPO Access (IPO Access), first project: SpaceX officially listed

Gate officially launches "IPO Access," further streamlining the participation chain from pre-listing investment opportunities to public offering subscriptions, providing users with a new channel to participate in global high-quality enterprise IPOs. Users may submit subscription applications before a company is officially listed and have the opportunity to receive full allocation, partial allocation, or no allocation of shares. The final allocation result depends on the actual IPO issuance situation and the allocation quota ultimately obtained by the platform. After the IPO ends, Gate users who receive allocations can directly access Gate US stock products to conduct real stock trading (the stock trading function is now supported on App v8.21.5 and above), providing users with a one-stop investment experience from IPO subscription to stock trading.

Project Basic Information

SpaceX, founded by Elon Musk in 2002, is not only a pioneer in modern commercial aerospace but also one of the world's highest-valued and most technologically influential tech giants. Through continuous breakthroughs in vertical rocket recovery technology, large-scale satellite internet (Starlink), and future space computing, SpaceX is reshaping the connection between humanity and space. After listing, SpaceX will be directly available in the Gate stock section, providing direct access to real stock asset trading.
This IPO subscription is an "intent subscription" and does not guarantee allocation. After submitting the allocation application, there is a chance to receive full allocation, partial allocation, or no allocation of shares. The final allocation result depends on the actual IPO issuance situation and the allocation quota ultimately obtained by the platform.

• Project Name: SpaceX
• Subscription Asset: USDT
• Reference Intent Subscription Price: 135 USD/share (subject to the final IPO pricing result)
• Intent Subscription Fee: 5% (total reference subscription price approximately 141.75 USDT, subject to the final pricing result; charged only upon successful subscription)
• Minimum Investment Amount: 100 USDT
• Maximum Investment Amount: 500,000 USDT
• Distribution Account: Users who complete the "intent subscription" and successfully obtain shares will have the shares directly distributed to their Gate stock account, enabling direct access to US stock trading
• Trading Method: Stocks (App must be updated to v8.21.5 or above)
• Unlock Method: No lock-up period, 100% unlocked

SpaceX IPO Access Timeline

Subscription Process

Web/App:

1. [Home] - [Earn] - [IPO Access]
2. Select SpaceX, support USDT subscription, click [Subscribe Now]
   Note: The earlier the subscription, the higher the allocation weight.

IPO Access Distribution Rules

The system will calculate and allocate shares based on the user's hourly average locked amount during the intent subscription period as a proportion of the project's overall average total intent subscription amount. The earlier the subscription, the higher the allocation weight. IPO Access subscription is an "intent subscription" and does not guarantee allocation. After submitting the allocation application, there is a chance to receive full allocation, partial allocation, or no allocation of shares. The final allocation result depends on the actual IPO issuance situation and the allocation quota ultimately obtained by the platform.

Calculation Method
Hourly average locked amount = sum of hourly locked snapshot amounts / total subscription period hours (66 hours)

Example Explanation:
Assume the intent subscription period is 66 hours. Users A, B, and C each plan to invest 100,000 USDT in the intent subscription:

• User A: Invests in the first hour of the intent subscription and maintains the lock throughout the period
  Average locked amount = 100,000 × 66 / 66 = 100,000 USDT
• User B: Invests after 33 hours from the start and maintains until the end of the intent subscription
  Average locked amount = 100,000 × 33 / 66 = 50,000 USDT
• User C: Invests in the last hour of the intent subscription
  Average locked amount = 100,000 × 1 / 66 ≈ 1,515 USDT

Subscription and Allocation Instructions

1. The intent subscription price is only a reference range for this IPO Access period. The final price depends on market demand, valuation, and book-building results. If the final price fluctuates within 20% of the reference price, we will automatically complete the allocation for you; if the fluctuation exceeds 20%, we will initiate a secondary confirmation process to ensure your right to information and decision-making.
2. IPO Access subscription is an "intent subscription" and does not guarantee allocation. After submitting the allocation application, there is a chance to receive full allocation, partial allocation, or no allocation of shares. The final allocation result depends on the actual IPO issuance situation and the allocation quota ultimately obtained by the platform. The actual number of shares obtained depends on the user's average locked amount as a proportion of all participating users and is subject to the total allocation and the individual maximum share limit.
3. The example is for explaining the allocation logic only and does not represent the final number of shares obtainable.
4. The intent subscription amount does not equal the final value or quantity of shares obtained. The final allocation result is subject to system calculation.
5. Funds participating in the intent subscription of shares will be locked, and the corresponding assets will be automatically locked (frozen) by the system. During this period, they cannot be traded, transferred, or withdrawn. After the subscription ends, the user's participation funds will be deducted according to the actual number of project shares obtained, and the remaining funds will be returned. If the actual amount of shares obtained is less than the invested amount, the remaining funds will be unlocked and automatically returned to your spot account after the distribution ends.
6. The minimum subscription unit per order is 0.01 shares. Remaining subscription funds less than 0.01 shares will be returned to your spot account after allocation.

Risk Warning

1. Users participating in IPO Access intent subscription must complete KYC identity verification in advance.
2. IPO Access carries high risks. This subscription activity adopts an open and fair launch model, but price fluctuations, insufficient market liquidity, and other situations may still occur. Please participate cautiously after understanding the project background and risks.
3. This subscription is an "intent subscription" and does not guarantee allocation. After submitting the allocation application, there is a chance to receive full allocation, partial allocation, or no allocation of shares. The final allocation result depends on the actual IPO issuance situation and the allocation quota ultimately obtained by the platform.
4. Borrowed funds are not currently supported for Gate IPO Access subscriptions; institutional and sub-accounts are not currently supported for Gate IPO Access subscriptions.
5. Understanding blockchain startup projects and assessing their inherent risks requires advanced technical and financial knowledge.
6. Due to technical, legal, regulatory, market, and other factors, the price of the project you participate in may fluctuate significantly, and the price may decrease or increase substantially.
7. Cryptocurrency projects are high-risk and have high price volatility. The project party has not set a margin and does not provide any price commitment or break-even guarantee. Please participate only after fully understanding the risks and being able to bear them. The platform strongly reminds you of the risks but cannot assume responsibility for investment guarantees or compensation.
8. If there is any discrepancy between the translated version and the English original, the English version shall prevail.
9. Gate reserves the right of final interpretation.
10. Users in restricted regions cannot use all or part of the services. For details on restricted regions, please read the User Agreement.

Gate Team
June 9, 2026

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