Pre-market OTC trading

Pre-market trading is an over-the-counter (OTC) platform designed to provide a trading market for new tokens that have not yet been officially listed. The platform allows buyers and sellers to set their own prices and complete trades in a peer-to-peer manner, enabling them to secure ideal prices and liquidity in advance and settle the assets within the agreed timeframe.

1. Trading Phase Before the new token is officially listed for spot trading, buyers and sellers can place or take orders at their desired prices and quantities. During the trading process, the platform will lock the order amount as margin to be used for the subsequent delivery. 2. Waiting for Delivery Before the delivery time, the seller must ensure that there are sufficient project tokens in their spot account to fulfill the matched orders. Alternatively, the seller may choose to "actively default." 3. Completing Delivery Starting from the project’s "Delivery Start Time," the system will execute deliveries multiple times at irregular intervals. During each round, the system will attempt to deliver all matched orders in order of execution. By the "Delivery End Time," any remaining undelivered orders will be processed or compensated in a final batch. If the seller defaults, their entire margin will be forfeited, and 90% of it will be paid to the buyer as compensation for the default.

As a seller, you need to use the USDT in your spot account to pay the margin and commission. You can place a sell order in the order market at the desired price and quantity through "Create Order", or you can find a suitable buy order directly in the order market and sell it immediately at the buy order price. After the order is filled, you can wait for delivery.

As a buyer, you need to use the USDT in your spot account to pay for the transaction amount and fees. You can place a buy order in the order market by clicking ‘’Create Order‘’ and setting your desired price and quantity, or you can directly purchase from an existing sell order at the listed price. Once the order is filled, simply wait for the delivery.

Once delivery begins, as long as your spot account contains a sufficient amount of the required tokens, the system will automatically complete the delivery. You can ensure that your spot account has enough tokens through the following methods: 1. Deposit Obtain your project token deposit address from your spot account, then transfer the required amount of tokens to your spot account via an on-chain deposit. Once completed, simply wait for the delivery to take place. 2. Spot Trading If the project token has already launched on the spot market, you can directly purchase the required amount of tokens in the spot market and hold them in your spot account. Then, wait for the delivery. Note: Only tokens in your spot account will be used for delivery. Tokens in other accounts (such as futures accounts) will not be recognized. Failure to maintain sufficient tokens in your spot account may result in margin loss.

If the token listing is delayed or canceled, orders for pre-market trading will also be delayed or canceled. Delay: Orders that have been filled are still valid, and the new delivery time will be announced separately by XT. Cancellation: The pre-market trading program will be closed, all orders will be canceled, and the frozen funds will be refunded to the user's spot account without any fees.