#KIMIPreIPOsNowOpen

#KIMIPreIPOsNowOpen
Gate Pre-IPOs Phase 3 is now open, giving eligible users an opportunity to participate in the Moonshot AI KIMI Asset Certificate subscription.

Moonshot AI is a leading Chinese artificial intelligence company focused on large language model research, artificial general intelligence, and AI applications. Its Kimi AI assistant has attracted significant attention for its long-context understanding, multimodal capabilities, and intelligent Agent technology.

This Pre-IPOs opportunity is designed to provide early exposure to the potential pre-listing value of Moonshot AI through Gate's dedicated Pre-IPOs mechanism. However, it is important to understand that KIMI is a Mirror Note and does not represent actual shares or stock ownership in Moonshot AI. The product is also not affiliated with, authorized by, or endorsed by Moonshot AI itself.

The indicative subscription price for this offering is $105 to $115 per KIMI Asset Certificate, with the final price determined according to the official pricing and book-building process.

Gate's current Pre-IPOs page displays an estimated subscription price of around $110, but users should treat the final offering price as subject to the official result. The implied valuation of Moonshot AI is approximately $50 billion based on the current offering structure.

Subscriptions are available using either USDT or GUSD. The minimum subscription amount is 10,000 USDT or 10,000 GUSD per transaction.

The total maximum allocation is 900 KIMI per user, with a maximum of 540 KIMI from the USDT pool and 360 KIMI from the GUSD pool.

One of the most important points for participants is the allocation mechanism. The amount you ultimately receive is not simply determined by how much money you commit.

Gate calculates allocation according to your average locked subscription amount during the subscription period compared with the overall average subscription amount. This means that earlier subscription can provide a higher allocation weight.

For example, if a user commits funds at the beginning of the 48-hour subscription period and keeps them locked throughout the entire period, the user's average locked amount will be much higher than someone who joins near the end. Gate therefore specifically states that earlier subscription provides a higher allocation weight.

The subscription period runs from August 11, 2026, at 07:00 UTC until August 13, 2026, at 07:00 UTC, which corresponds to August 13 at 15:00 UTC+8. Users who want to maximize their allocation weight should understand that the subscription funds remain locked during the subscription period.

There is also an additional benefit for users choosing GUSD. GUSD subscriptions can continue earning the applicable 3.8% annualized Flexible Term U.S. Treasury return during the subscription period, with returns distributed daily. GUSD also supports zero-fee redemption in the original coin according to the product terms.

For USDT subscribers, if no KIMI allocation is ultimately received, Gate states that an interest subsidy based on a 3.8% annualized rate can be provided for the locked subscription funds, subject to the applicable conditions. Subsidies below 0.5 USDT per subscription will not be distributed. GUSD subscribers continue receiving their applicable 3.8% return during the subscription period, so they do not receive an additional interest subsidy.

Another feature of this Phase 3 campaign is the VIP-exclusive Moonshot AI KIMI airdrop. Eligible VIP users can participate in the separate campaign according to its event rules and may receive additional KIMI-related rewards. This gives eligible users another potential benefit beyond the basic subscription allocation.

There is also an important fee that participants should understand before subscribing. The offering carries a 5% underwriting service fee, subject to the final offering price, and the fee applies only to successfully allocated subscriptions. Therefore, users should calculate the potential costs before committing funds rather than looking only at the indicative subscription price.

After the subscription period ends, KIMI Asset Certificates are scheduled for distribution on August 17, 2026, at 07:00 UTC. Successfully allocated certificates will be distributed 100% unlocked to the PreIPO Account, while unused funds from unsuccessful or excess subscription amounts will be returned to the Spot Account according to the distribution rules.

Following distribution, the KIMI Asset Certificates are expected to enter a dedicated trading market. Gate states that the dedicated market is expected to open approximately one month after distribution, although the exact opening time will depend on the platform's official announcement.

Once the dedicated market opens, holders may be able to trade their certificates and recover their principal based on real-time market prices.

However, the profit portion connected to the eventual listing of the target company can remain locked until the relevant listing or exit event occurs.

The project also has a 20% Carried Interest mechanism on realized profits. This means that if a user realizes profits through the applicable secondary market or after the relevant unlocking event, a 20% profit-sharing fee can apply to the profit portion according to the official rules. Trading fees may also apply in the dedicated market, with the announcement specifying a 0.5% maker fee and 1.5% taker fee.

The expected holding period should also be taken seriously. Gate states that the holding period could extend from several months to several years, depending on the actual listing or other exit arrangements of the target company.

This is therefore not the same as buying a publicly traded stock that can immediately be sold on a conventional stock exchange.

There is also a specific cancellation and refund mechanism. If Moonshot AI ultimately does not complete its listing, or if the underlying mirrored asset triggers a right of first refusal or another cancellation condition, the project may be canceled and refunded under the applicable rules. Gate currently describes an estimated probability of approximately 20% for such a cancellation scenario. In that situation, secondary-market trades may be voided and the relevant principal, profits, losses, and trading fees handled according to the stated refund mechanism.

For users who want to participate, the process is straightforward. On Gate, go to Earn, then Launch, then Pre-IPOs. Select Moonshot AI KIMI, choose either USDT or GUSD, enter your subscription amount, and confirm the subscription. Afterward, allocation information can be viewed through the relevant Pre-IPOs allocation records.

The key point is that subscribing earlier does not guarantee a specific number of KIMI certificates, but it can improve the allocation weight because Gate calculates the average locked amount throughout the subscription period.

The Moonshot AI Pre-IPOs opportunity is particularly interesting because it combines exposure to one of China's prominent AI companies with Gate's Pre-IPOs infrastructure, while providing two subscription options and additional benefits for GUSD and eligible VIP users.

However, participants should understand the difference between exposure to a private company's potential value and ownership of actual company shares. KIMI is a Mirror Note, not Moonshot AI stock. The underlying company is not currently publicly listed, and its future listing date has not been determined.

This also means there is significant uncertainty.

The value of the asset can fluctuate substantially, the IPO could be delayed or canceled, market liquidity may be limited, and the investment can result in loss of principal.

Gate itself states that Pre-IPOs are high-risk, non-principal-protected products and that it does not guarantee investment returns.

Borrowed funds cannot be used, and institutional accounts and subaccounts are not eligible.

For those who understand these risks and are eligible to participate, Gate Pre-IPOs Phase 3 provides a structured way to seek exposure to Moonshot AI's potential pre-listing value. The subscription deadline is August 13, 2026, at 15:00 UTC+8.

Before participating, review the official subscription terms, final pricing, fees, allocation rules, and risk disclosures carefully. The opportunity may be attractive, but the right approach is to make an informed decision based on your own risk tolerance rather than simply following market hype.

Subscribe through the official Gate Pre-IPOs page: Gate Moonshot AI KIMI Pre-IPOs
Official announcement and complete terms: Gate Pre-IPOs Phase 3 Announcement