#GatePreIPOs首发SpaceX Pre-IPOs are Gate’s digital subscription mechanism, focusing on early participation opportunities in high-quality projects before they list, helping users to arrange and track the value of target companies in advance before those companies enter the public market, without the need for tedious account opening or high capital thresholds—so users can seize the market opportunities created by how companies perform before and after the IPO.

This round of SpaceX (SPCX) subscriptions will open from 18:00 on April 20, 2026, to 18:00 on April 22, 2026 (UTC+8), supporting participation in both USDT and GUSD. After the subscription is completed, SPCX asset certificates are expected to be distributed by 18:00 on May 6, 2026 (UTC+8), entering pre-market trading on the platform in the form of 100% unlock.
The SPCX asset certificates are mirror notes (Mirror Note) issued before SpaceX’s IPO, used to mirror and map the market value before and after SpaceX goes public, and are a type of “Contingent Payout Note.”
Gate provides users with multiple exit options or long-term holding options that correspond to the target company’s reasonable market value, by hedging its exposure to SpaceX stock in the market.
The total subscription amount for this round is 33,900 SPCX, corresponding to a total value of approximately 20.01 million USD. The subscription price of 1 SPCX is 590 USD, implying a valuation of approximately 1.4 trillion USD. In terms of mechanism design, Pre-IPOs uses “the average locked amount per hour” as the basis for allocation: the earlier users participate and the longer they lock their assets, the higher their allocation weight in the overall subscription.
After the subscription ends, SPCX will support pre-market trading 7×24 hours a day, providing flexible circulation and exit mechanisms. Users can exit at the real-time value of the stock market via a dedicated page before the lock-up period, or choose to exit through the pre-market at a suitable price.
In addition, the minimum participation threshold for this round is only 100 USDT, and it does not create hidden losses such as fees, custody fees, or revenue sharing. In the same period, Gate also launched an exclusive VIP airdrop campaign. Users with VIP 5 and above, as well as super agents, can participate to claim SPCX rewards and receive additional free airdrops.
As crypto platforms continue to evolve toward multi-asset, multi-market integration, Gate’s launch of Pre-IPOs and the onboarding of SPCX not only enable forward-looking exploration in product form, but also further solidify its leading position in connecting the crypto market with traditional capital markets.