#GatePreIPOsLaunchesWithSpaceX

Gate Pre-IPOs Launches Its First Flagship Project: SpaceX (SPCX) — Here Is Everything You Need to Know Before the Window Closes

Gate has broken new ground in the crypto industry with the debut of its Pre-IPOs product, and the first project it has chosen to spotlight is none other than SpaceX — the Elon Musk-led commercial aerospace company targeting one of the most anticipated public listings in financial history, with a projected valuation of up to $2 trillion and a potential $75 billion raise that would make it the largest IPO ever recorded.

This is not a meme coin. This is not speculative narrative trading. Gate Pre-IPOs is an entirely different asset class: a structured digital subscription mechanism that gives retail investors early valuation exposure to high-quality private companies before they go public. Through SPCX, Gate has tokenized that access and opened it to anyone on the platform.

What Is SPCX and What Does It Represent

SPCX is a Mirror Note based on SpaceX. It is not equity, and it does not represent actual SpaceX stock or shareholder rights. What it does is track and mirror the implied valuation performance of SpaceX before and after its IPO listing. This is a price-exposure instrument — designed to allow retail participants to gain economic positioning in the SpaceX valuation story without needing to be accredited investors, without needing a brokerage in a restricted market, and without waiting for the stock to list on a traditional exchange.

The implied valuation used in this round is $1.4 trillion. The subscription price is fixed at $590 per SPCX. Total supply available for this round is 33,900 SPCX, representing a total subscription value of approximately $20 million. Each user is capped at a maximum allocation of 339 SPCX per account.

Subscription Details and Rules

The subscription window opens on April 20, 2026, at 10:00 UTC and closes exactly 48 hours later on April 22, 2026, at 10:00 UTC. This is a hard deadline with no extensions.

Participation is supported in two currencies: USDT, which carries a 70% allocation weighting across the pool, and GUSD, which carries a 30% weighting. The minimum entry threshold is 100 USDT or 100 GUSD. Subscription fees are waived — Gate covers trading and custody fees for this round.

The allocation mechanism is weighted by time, not simply by total amount subscribed. The system takes hourly snapshots of each participant's locked subscription amount across all 48 hours of the subscription period and computes the hourly average. This means participants who enter earlier accumulate more hours in the snapshot calculation and receive proportionally higher allocation weight. Waiting until the final hours is a strategically inferior approach — the earlier you lock funds, the stronger your position in the allocation.

Funds are locked for the duration of the subscription period and cannot be redeemed until allocation is complete.

Distribution and Pre-Market Trading Timeline

Distribution has been advanced from the originally scheduled date. SPCX asset certificates will be distributed on April 22, 2026, at 14:00 UTC — just four hours after the subscription window closes. Pre-market trading for SPCX opens on April 24, 2026, at 10:00 UTC, with 24/7 trading availability once the market is live.

After receiving SPCX certificates, holders have two distinct exit paths. First, they can trade in the Gate Pre-Market at prevailing market prices before the SpaceX IPO occurs. Second, after the official IPO listing, they may convert their SPCX either to tokenized SpaceX stock or back to USDT at real-time market rates.

The lock-up period after official IPO listing is 6 months. This is a medium-term commitment and participants should account for the illiquidity window that applies post-IPO.

VIP Airdrop Campaign — Additional Free SPCX Allocation

Gate is running a parallel VIP exclusive airdrop campaign for this round, with the event period running from April 15 to April 22, 2026. VIP 5 and above users who register through the campaign page and achieve a net deposit of at least 50,000 USDT during the event window are eligible for additional free SPCX allocations on top of whatever they subscribe for in the main round.

The airdrop allocation tiers are structured as follows: VIP 5 to 6 users can receive up to 188 SPCX from the trading volume pool, 6 SPCX from GT holdings, and 18 SPCX from asset balance metrics. Higher VIP tiers receive differentiated allocations across all three categories. VIP 6 and above also receive a VIP Upgrade Pass upon campaign completion, which carries lower trading fees, faster withdrawal processing, and access to a dedicated support line.

Affiliate Ultras meeting the baseline requirements are eligible for a flat 0.2 SPCX airdrop per participant via their dedicated account manager. Excluded from the VIP airdrop are accounts at VIP 14 and above, market makers, corporate and institutional accounts, affiliates, users with API-driven volume comprising more than 60% of their 30-day trading volume, and manually upgraded or trial VIP users.

Why This Round Matters

SpaceX is not a startup. It operates Starlink, one of the fastest-growing satellite internet businesses on the planet, with millions of active subscribers and revenue streams that extend across defense, logistics, and commercial communications. The IPO roadshow is planned for the week of June 8, with Elon Musk reportedly planning an unprecedented retail investor event for 1,500 participants on June 11. Analysts have noted that the scale of this listing could dominate capital market attention for the entirety of Q2 and Q3 2026.

Gate Pre-IPOs is designed to give its user base a seat at that table — two months before the public markets open, at a fixed subscription price, with 100% unlocked distribution and an open pre-market trading window available before the roadshow even begins.

This is the first Pre-IPO launch from Gate. The precedent it sets for future rounds matters. Participating in round one is not just about SpaceX exposure — it is about being positioned at the front of a product vertical that is likely to see significantly more demand in subsequent rounds as the market warms to this access model.

How to Subscribe

Navigate to Home, then Earn, then Pre-IPOs, select SPCX, and click Subscribe Now. Ensure your account has USDT or GUSD available before April 20, 2026, 10:00 UTC. Lock early to maximize your allocation weight. Do not wait for the final hours — the time-weighted mechanism rewards participants who commit first.

gate.com/ipos/2

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