Gate PreIPO trading market officially launched, Moonshot AI (KIMI) is about to open for trading The Gate PreIPO trading market has officially launched, providing secondary market trading and liquidity services for Pre IPO asset certificates. Through a dedicated trading market, Pre IPO asset certificate holders can freely buy and sell according to market prices. Before the target company completes IPO or other exit arrangements, they can flexibly manage their positions according to their own strategies, achieving market-oriented pricing and liquidity release of assets. The first phase project Moonshot AI (KIMI) will open its dedicated market for trading on September 17, 2026 at 3:00 PM (UTC+8). Go to Pre IPOs 1 and Gate PreIPO trading market. Gate PreIPO trading market provides secondary trading services for Pre IPOs asset certificates. Unlike traditional primary subscription, after completing Pre IPO subscription and obtaining asset certificates, users can enter a dedicated trading market for buying and selling, and the trading price is determined by market supply and demand. The dedicated trading market supports 24/7 trading, and holding users can freely buy and sell according to market prices and their own trading strategies, and can continue to hold asset certificates after trading. The core trading mechanism allows for free buying and selling of open positions. Users can place or take orders freely through a dedicated trading market, and both buyers and sellers complete transactions based on market prices. After selling their positions, users can recover and withdraw the corresponding principal according to relevant rules; The profit portion related to the pre listing asset value growth will remain locked in until the target company's stock is listed and unlocked. Continuous holding users do not need to withdraw all their holdings at once. They can choose to sell some of their assets according to their own strategies and continue to hold the remaining asset certificates, continuing to participate in the subsequent value changes of the target enterprise. The market-oriented pricing specialized trading market generates real-time market prices through orders from both buyers and sellers, providing a market-oriented price discovery mechanism for Pre IPO asset certificates. After completing the first transaction of the secondary transfer of asset certificates, they can still enter the market for buying and selling again, and holding users can continue to manage their positions according to market conditions. 2、 The PreIPO trading market adopts a Maker/Taker rate mechanism for transaction fees: Maker (pending orders): 0.5% Taker (eating orders): 1.5%. Relevant fees will be charged according to the platform's actual rules at the time of transaction completion. 3、 Regarding the ROFR and transaction cancellation mechanism, the target company corresponding to Pre IPO asset certificates has not yet completed IPO, and the final asset delivery may still be affected by the target company's right of first refusal (ROFR) and other underlying asset factors. According to the specific arrangement of different Pre IPO asset batches, some asset batches may have ROFR triggers and corresponding transaction cancellation mechanisms. If the final delivery of the relevant asset batches is cancelled due to the unsuccessful listing of the target enterprise, triggering of ROFR by underlying mirror targets, or other factors, the platform will process the relevant transactions according to the rules of the corresponding batches. For asset batches that are subject to cancellation and refund mechanisms, the relevant secondary transactions will be invalidated, and the profits, losses, and transaction costs generated by the transactions will be recovered or refunded according to the rules. The specific handling method shall be subject to the corresponding project announcement. Therefore, there may be differences in the specific transaction and refund rules for different Pre IPO projects. Users must check the corresponding project's rule description before participating in the transaction. 4、 Pre IPO asset certificates and subsequent exit Pre IPO asset certificates are mirror notes issued before the target company's IPO, used to mirror the market value of the target company before and after its listing. They are a type of contingent payout note. After the target company completes its IPO, Gate will provide follow-up asset disposal plans for relevant holding users based on actual market conditions, including stock asset exchange, stock token exchange, or other applicable exit methods. If the target company ultimately fails to go public, is acquired, merged, or experiences other exit events, the platform will handle it according to the specific rules of the corresponding project. Pre IPO asset certificates do not represent the actual stocks or shares of the target company, nor do they represent any legal relationship between investors and the target company. 5、 Moonshot AI (KIMI) dedicated market trading arrangement Gate Pre IPO Phase III project Moonshot AI (KIMI) will enter the PreIPO trading market in the first phase. The distribution of KIMI asset certificates has been completed previously. According to the previously announced KIMI Pre IPO rules, after the distribution of asset certificates is completed, they will enter a dedicated market for trading and support free transfer and sale to recover principal; The profit portion related to the unlocking of the target company's stock listing will remain locked in. The specific arrangement is as follows: Asset voucher symbol: KIMI Trading pair: KIMI/USDT Dedicated market Trading time: September 17, 2026 15:00 (UTC+8) Trading time: 7 × 24 hours Web user access path Top navigation bar [Finance] Select [Pre IPOs] → Scroll down to "PreIPO Trading Market" → Search KIMIApp user access path Gate App → [Finance] → [New] → [Pre IPOs] → Scroll down to "PreIPO Trading Market" → Search KIMI VI. About Moonshot AI (KIMI) KIMI Asset Voucher is a mirror note issued before Moonshot AI IPO, used to mirror map Moonshot AI listing. The market value before and after. For more KIMI Pre IPO rules, please refer to Gate Pre IPO Phase III: Moonshot AI (KIMI), which supports USDT and GUSD subscription of Pre IPO related mechanisms. Gate Pre IPO focuses on the asset value opportunities of high-quality enterprises before listing, and provides users with a complete asset participation path from primary subscription to secondary trading, and then to subsequent exit through digital subscription and dedicated trading markets. Users can obtain corresponding asset certificates before the target enterprise enters the public market, and conduct secondary transactions based on market prices after the dedicated trading market is opened. Due to the fact that the target company has not yet been officially listed, Pre IPO asset certificates are circulated using temporary trading symbols and corresponding quantities; After the target company completes its IPO, the platform will adjust the relevant assets and exit methods according to the actual situation. Risk warning: The target company corresponding to Pre IPO asset certificates may not be listed yet, and there is uncertainty in the actual listing time. Users may face high investment risks. Due to the fact that the target company has not yet been officially listed, the relevant asset certificates may be subject to market liquidity, price fluctuations ROFR、 The influence of laws, regulations, and other factors. If the target enterprise fails to successfully go public, goes bankrupt, is acquired, merged, or triggers other exit conditions agreed upon in the project, the relevant assets will be handled according to the corresponding project rules, and users may face principal losses. The market price of a dedicated trading market is determined by the supply and demand of both buyers and sellers, and may differ significantly from the actual stock value of the target company after going public in the future. Different Pre IPO asset batches may be subject to different transaction and refund mechanisms. Users are advised to carefully read the specific rules of the corresponding project before trading. Cryptocurrency assets and related financial products have high risks and price volatility. Please be sure to fully understand the product mechanism and related risks, and confirm that you have the corresponding risk tolerance before participating. If there are any differences between the translated version and the original English text, the English version shall prevail. Gate reserves the right of final interpretation. Users in restricted areas are unable to use all or part of the services. For detailed information on restricted areas, please refer to the user agreement. Gate team September 17, 2026