Announcements Gate.io Announcement on Launching the Pre-Market OTC Trade for Major (MAJOR)

Gate.io Announcement on Launching the Pre-Market OTC Trade for Major (MAJOR)

2024-10-09 11:16:02 UTC 92078 Read

MAJOR/USDT + 3.03%

[//]:content-type-MARKDOWN-DONOT-DELETE

Gate.io launched Pre-Market OTC Trading for Major (MAJOR)on October 9th, 2024.

Delivery Schedule: Please refer to the trading page for the specific details of the delivery time.

Pre-Market OTC Trading Page: https://www.gate.io/pre-market/MAJOR

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’s no changes to the total amount 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 MAJOR Points at a price of 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 :
![](https://gimg2.gateimg.com/image/article/17284636032.jpeg)

**Note:
1) The launched Pre-Market Trading is for MAJOR Points, not the MAJOR Token.
2) Users can trade MAJOR Points Pre-Market Trading in advance, before MAJOR Token Pre-Market Trading is launched on Gate.
3) Gate will launch MAJOR Token Pre-Market Trading after the Max Supply of MAJOR Token is confirmed.
At that time, completed orders from MAJOR Points Pre-Market Trading will be transferred to MAJOR Token Pre-Market Trading. Gate will complete the conversion of MAJOR Points to MAJOR 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  Major (MAJOR):
Launched on July 3, 2024, Major is a star-collecting game designed specifically for Telegram by Roxman, who’s also behind Friends Factory. The aim is simple: gather Stars through tasks and interactions, which can be converted into $MAJOR tokens when the airdrop happens. The game integrates blockchain tech via the TON ecosystem and has seen explosive growth with over 40 million users.

[Official X](https://x.com/majoroftelegram "Official X")

MAJOR Token Max Supply: TBD
MAJOR Points Max Supply: 10B

**Gate.io Pre-Market OTC Trading Introduction as follows:**

## What is Gate.io Pre-Market OTC Trading?
Gate.io 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.io 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.gateimg.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.gateimg.com/image/article/1712629179en2new.png)

### Changes in Token Listings on Gate.io
(1) If there's a listing delay, executed Pre-Market OTC trading orders stay valid. New delivery times will be notified through Gate.io 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.

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Gate.io Team
October 9th, 2024

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