BingX Pre-Market Trading is launching Fuel Network (FUEL). Participate in over-the-counter (OTC) FUEL trading before its official listing.
Project Introduction
Fuel Network is a modular execution layer for Ethereum. Fuel v1 initially served as an Ethereum scaling solution, utilizing the Optimistic Rollup (ORU) model to process payments. It is built on the UTXO model, allowing transactions to be validated in parallel on the user's hardware, significantly speeding up transaction processing.
Website: https://fuel.network/
Basic Information
Preset Total Supply: 1,000,000,000
Launch Time: 2024-08-14 08:00 (UTC)
End Time: TBD
Delivery Time: TBD
FUEL Spot Listing Time: TBD
Note: BingX will notify you once the above TBD information is confirmed.
How to Use BingX Pre-Market Trading?
There are 3 main stages in BingX Pre-Market Trading: project selection, order creation and order delivery.
Project Selection
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First, log in to your BingX account and ensure you've completed advanced KYC verification. Users in restricted regions won’t be able to join Pre-Market Trading.
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Visit the Pre-Market Trading homepage, select a project that's currently in the trading phase and click "Trade" to view detailed information about the project. You can also see the list of orders created by buyers and sellers.
Order Creation
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On the Pre-Market Trading project details page, you can trade as a Maker or a Taker.
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As a Maker:
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Click "Create Order" and select "Buy" or "Sell".
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Enter the price and amount in the pop-up window. Review the order details and amounts, and then click the bottom button to confirm.
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As a Taker:
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Browse the list of orders under "Buy" or "Sell".
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Select an order that matches your criteria, then click "Buy" or "Sell" to execute the order.
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Please note that the order you select must be fully filled; partial fills are not allowed.
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Explanation of Order Fund Freezing:
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To ensure successful delivery of each order, buyers will have their order value and trading fees frozen, while sellers will have the collateral value and trading fees frozen.
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Order Delivery
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If you are a buyer and your order is matched, token delivery will happen either at the designated delivery time or earlier if the seller opts to deliver in advance.
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If you are a seller, please ensure to deposit the token amount to be sold into your BingX Fund Account before the designated delivery time to complete your order successfully.
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You can complete the delivery in advance before the designated delivery time by clicking "My Orders" - "Deliver".
Note: Make sure to verify the deposit network and address to prevent asset loss.
Notes:
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Preset of Project's Total Supply: Based on publicly available data from Fuel Network, BingX has initially set the total supply of FUEL tokens at 1,000,000,000. The preset total supply is for reference only. BingX will adjust it based on the actual total supply announced by the project at the time of delivery.
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Actual Token Total Supply Recalibration: Once the Fuel Network project finalizes the actual total supply, BingX will recalibrate the price and amount of your orders based on the actual total supply proportionately. The order value will remain the same.
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For example: User A purchases 2,000 FUEL at a price of 0.2 USDT, with a total order value of 400 USDT.
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If the actual total supply is 250,000,000 FUEL, the token price in the order will be 0.8 USDT and the token amount will be adjusted to 500 FUEL.
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If the actual total supply is 500,000,000 FUEL, the token price in the order will be 0.4 USDT and the token amount will be adjusted to 1,000 FUEL.
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If the actual total supply is 1,000,000,000 FUEL, the token price and amount in the order will remain unchanged at 0.2 USDT and 2,000 FUEL.
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If FUEL cannot be listed in Spot Trading due to force majeure, BingX will release all pre-market trading orders for FUEL and unlock the collateral that was locked for both parties during order creation.
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During the pre-market trading period, orders that have been delivered early cannot be revoked or rolled back. You can opt to withdraw these delivered tokens.
See Also:
BingX Pre-Market Trading Introduction & FAQ
Terms & Conditions:
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Participants are required to complete advanced KYC verification to eligible for the event.
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All non-individual accounts, such as market makers and brokers, cannot participate in Pre-Market Trading.
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Any users involved in illegal or malicious activities, such as fraud, participating with multiple accounts, reward farming, will be disqualified and have their rewards revoked.
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BingX reserves the right to the final interpretations of this event, including any modifications, updates to terms, or cancellations.
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BingX will assist users in handling issues related to Pre-Market Trading. For any questions, please reach out to our online support for assistance.
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The project information, launch plan, and more are provided by the project team. The platform will notify any changes made during the event in a separate announcement.
Risk Warning:
Cryptocurrencies are highly volatile and subject to various risks, including market, project, technical and compliance-related uncertainties. Therefore, you may experience potential investment losses due to high volatility and various risks associated. Exercise caution, stay informed on the potential risks and invest prudently.
BingX Operation Team
2024-08-14
BingX Official Channels
Risk Disclaimer