[//]:content-type-MARKDOWN-DONOT-DELETE Gate launched Pre-Market OTC Trading for Morpho Labs (MORPHO)on October 11th, 2024. Delivery Schedule: Please refer to the trading page for the specific details of the delivery time. Pre-Market OTC Trading Page:

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Gate will preset an initial token issuance amount for points-based pre-market projects. When the project officially announces its tokenomics, the platform will determine the exchange ratio based on the ratio of the actual token issuance amount and the preset issuance amount of points. During that period, there will be no changes to the total number of orders made. The system will convert the points into tokens in equal proportions according to the exchange ratio, and the settlement must be based on the number of mapped tokens. For example: User A sells 5,000 MORPHO Points at 0.01 USDT. The transaction amount of this order is 50 USDT. If the ratio of the announced initial issuance and the actual issuance is 1:10, the number of tokens after mapping is as shown in the table below :

**Note:** 1) The launched Pre-Market OTC Trading is for MORPHO Points, not the MORPHO Token. 2) Users can trade MORPHO Points Pre-Market OTC Trading in advance before MORPHO Token Pre-Market OTC Trading is launched on Gate. 3) Gate will launch MORPHO Token Pre-Market OTC Trading after the Max Supply of MORPHO Token is confirmed. At that time, completed orders from MORPHO Points Pre-Market OTC Trading will be transferred to MORPHO Token Pre-Market Trading. Gate will complete the conversion of MORPHO Points to MORPHO Token for the user based on the actual official Points-to-Token conversion ratio. 4）Please always pay attention to the delivery schedule and complete delivery on time. Failure to comply with the delivery schedule may result in the loss of collateral. **About Morpho Labs (MORPHO):** Morpho is a lending protocol that combines the liquidity pool model used by Compound or AAVE with the capital efficiency of peer-to-peer matching engines used in order books. Morpho-Compound improves Compound by providing the same user experience, liquidity, and liquidation parameters, but with an increased APY due to peer-to-peer matchings. [Official website](https://morpho.org/ "Official website") [Official Whitepaper](https://whitepaper.morpho.xyz/ "Official Whitepaper") MORPHO Token Max Supply: TBD MORPHO Points Max Supply: 1B **Gate Pre-Market OTC Trading Introduction as follows:** ## What is Gate Pre-Market OTC Trading? Gate Pre-Market OTC Trading is an Over-the-Counter (OTC) trading service that allows investors to buy and sell new tokens before their official listing. It enables users to set prices and trade tokens at anticipated rates before public trading begins. Read More [[FAQ about Pre-Market OTC Trading]](https://www.gate.io/help/pre-market-trading/pre-market/35226/faq-about-pre-market-trading "[FAQ about Pre-Market OTC Trading]") [[Pre-Market OTC Trading Guide]](https://www.gate.io/help/pre-market-trading/pre-market/35228/pre-market-trading-guide "[Pre-Market OTC Trading Guide]") ## Key benefits of Pre-Market OTC Trading It offers investors the chance to potentially acquire trending tokens at lower costs compared to the market listing price, providing a competitive edge in pricing. ## How to conduct Pre-Market OTC Trading? On Gate Pre-Market OTC Trading, traders can buy or sell specific tokens before its officially listing. Traders can choose to be a Maker, creating orders with preset prices, or be a Taker, matching active orders on the platform. Refer to the Pre-Market OTC Trading Beginner's Guide for more details. Note: Both buyer and seller need to pay trading fees in advance. Sellers are required to pay a collateral amount based on the collateral rate to ensure timely settlement. The collateral will be refunded after the delivery is successful. All transactions are priced in USDT.* Now, let’s take a look the two different roles in Pre-Market OTC Trading. ![](https://gimg2.staticimgs.com/image/article/1712629932en1.png) Notes: 1.Only unfilled orders can be canceled, orders cannot be canceled once matched with a counterparty. 2.Unfilled orders will be automatically canceled after the Pre-Market OTC trading ends. ## Terms Explained ![](https://gimg2.staticimgs.com/image/article/1712629179en2new.png) ### Changes in Token Listings on Gate (1) If there's a listing delay, executed Pre-Market OTC trading orders stay valid. New delivery times will be notified through Gate announcements and emails. (2) If the listing is canceled, all Pre-Market OTC trading orders are voided. Users receive refunds for frozen collateral within a working day, with no trading fees charged. ### Fee Structure **Transaction Fee: **The transaction fee rate applies to the total order value of matched orders. Check the latest rates on the trading page. **Other Fees:** If the seller misses the delivery time, a 10% collateral will be retained as a fee by the platform, with the remaining 90% compensated to the buyer. ### Disclaimer Please note that Pre-Market OTC trading carries various risks, including limited liquidity, large bid-ask spreads, and price uncertainty. Gateway to Crypto Trade over 1,700 cryptocurrencies safely, quickly, and easily on Gate Download Gate [App](https://www.gate.io/mobileapp?ch=ann28618 "App") / [Web](https://www.gate.io/mobileapp "Web") Client now>>> Follow us on [Gate X (Twitter)](https://twitter.com/gate_io "Gate X (Twitter)") to get more bonuses>>> Join our [Telegram](https://t.me/gateio_en "Telegram") to discuss hot topics>>> Join our [Global Community](https://www.gate.io/community "Global Community") to get more updates>>> We provide [100% proof of reserve](https://www.gate.io/proof-of-reserves "100% proof of reserve")>>> [Sign up](https://www.gate.io/signup "Sign up") to enjoy max. $6666 in rewards exclusively for new users Get 40% commission from [referrals](https://www.gate.io/referral "referrals") Gate Team October 11, 2024

Gate Announcement on Launching the Pre-Market OTC Trade for Morpho Labs (MORPHO)

Gate Announcement on Launching the Pre-Market OTC Trade for Morpho Labs (MORPHO)