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MEXC Pre-Market Trading: MEMEFI Trading Closure and Settlement Timeline

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MEXC
Dear MEXCers,
The settlement for MemeFi (MEMEFI) pre-market trading is about to begin. Please ensure your Spot Account holds sufficient MEMEFI tokens to complete all pending settlement orders within the specified time. Failure to meet the delivery requirements on time will result in the loss of your entire collateral.

Details are as follows:
Pre-Market Trading End Time: Nov 22, 2024, 11:00 (UTC)
Spot Trading Start Time: Nov 22, 2024, 13:00 (UTC)
Pre-Market Trading Settlement Start Time: Nov 22, 2024, 15:00 (UTC)


Memefi (MEMEFI)

Introduction
MEMEFI is a community-driven token used in both the MemeFi Web3 app and MemeFi Telegram Ad Network. The token is used for rewards, character development, in-game microtransactions, and discounted Ad Network services.
Total Supply: 10,000,000,000 MEMEFI
Official Website | X (Twitter) | Telegram | Whitepaper

More About MEXC Pre-Market Trading


What is Pre-Market Trading?

Pre-Market Trading is an over-the-counter (OTC) service offered by MEXC that allows users to buy and sell new tokens before they are officially listed on the exchange. This service lets traders set preferred prices and find matching trades, providing an opportunity to trade at favorable prices before the public launch. By participating in MEXC Pre-Market Trading, users can gain a competitive edge before the tokens are officially issued. Staying informed about the trading process and requirements is essential to maximize your chances of success in these trades.

Advantages of Pre-Market Trading?

MEXC Pre-Market Trading provides investors with a way to seize market opportunities before a new token’s official issuance. Compared to post-listing trades, investors have the potential to acquire popular tokens on more favorable terms, potentially gaining a competitive advantage.

Trading Rules

  • In MEXC Pre-Market Trading, users can buy or sell tokens before they’re officially listed.
  • Traders can act as a Maker by placing orders at preset prices, or a Taker by matching existing orders on the platform.
  • Both buyers and sellers must collateralize their assets on MEXC to ensure timely settlements.
  • Upon successful settlement by the seller, the collateral will be returned after settlement. For the buyer, upon successful settlement, the collateral will be used as payment for the settlement.
  • Pre-Market Trading currently takes place within MEXC’s Spot accounts.


Buyer & Seller

Buyer
  1. When buyers place an order, the collateral and trading fees will be frozen, and they will only be deducted at the time of settlement.
  2. If the settlement is successful, both the collateral and trading fees will be deducted. If the settlement fails, the fees will still be deducted, but the collateral will be unfrozen, and the buyer will receive the seller's collateral as compensation.
Seller

  1. When sellers place an order, the collateral and trading fees will be frozen, and they will only be deducted at the time of settlement.
  2. Sellers must ensure there are sufficient tokens in their Spot Account at the time of settlement.
  3. After the successful delivery of tokens, payment will be received in the Spot Account. If the settlement fails, the seller forfeits all collateral, with a portion collected by the platform as a handling fee and the remaining portion provided to the counterparty as compensation. Currently, MEXC does not charge any fees; all collateral will be compensated to the buyer.

Terminology

Settlement Time
The seller will transfer the full amount of tokens agreed upon in the Pre-Market Trading to the buyer at the specified settlement time. Please refer to the token information section on the Pre-Market Trading page for more details.
Pledge Rate
The pledge rate represents the percentage of the order value that must be held as collateral. Failure to complete the settlement within the specified time may result in the loss of collateral. For specific pledge rates, please refer to the token information section on the MEXC Pre-Market Trading page.
Trading Fee Rate
The trading fee rate is a specified percentage based on the transaction value and varies depending on the tokens being traded. For specific fee rates, please refer to the token information section on the Pre-Market Trading page.
Pre-Market Trading Frozen Amount
  • Buyer Frozen Amount = Order Value
  • Seller Frozen Amount = Order Value x Pledge Rate (Z%).
For example, if Z = 100%, then the frozen amount for buying or selling 1,000 USDT in Pre-Market Trading would be 1,000 USDT x 100%, equaling 1,000 USDT.
Overdue Settlement Fee
If the seller fails to complete the settlement within the specified time, the platform will deduct a portion of the seller's collateral as a handling fee, with the remainder given to the buyer as compensation. Currently, MEXC does not charge any handling fees; all collateral is compensated to the buyer.

Pre-Market Trading Fee Structure

  • Trading Fees: Typically, a specific percentage of the total transaction amount is charged as a fee. However, MEXC is currently offering zero trading fees for Pre-Market Trading.
  • Other Fees: Generally, if the seller fails to complete the settlement within the specified time, the platform will deduct a portion of the seller's collateral as a handling fee, with the remainder given to the buyer as compensation. Currently, MEXC does not charge any handling fees; all collateral is returned to the buyer as compensation.
  • Unexecuted Orders: No fees are charged for unexecuted orders. Please note that the fee structure for Pre-Market Trading differs from that of other trading markets on MEXC.
  • For specific fee details, please refer to the corresponding token information on the MEXC Pre-Market Trading page.

Disclaimer

  • The mechanism for certain products in the Pre-Market Trading session differs from that of the standard settlement market. Please ensure you thoroughly understand the mechanisms and risks associated with Pre-Market Trading products in advance.
  • Please note that Pre-Market Trading may involve various risks, including limited liquidity, wide bid-ask spreads, and price uncertainty.

Enjoy trading on MEXC.
The MEXC Team
November 20, 2024