Wow, the Gate Square debut SpaceX topic is so exciting! Connecting the crypto world directly to the stars and the ocean, perfectly matching my love for space exploration.

1️⃣ My perspective on this issue's Pre-IPO project (SpaceX / SPCX)
SpaceX is definitely the king of the global commercial space industry! Since Elon Musk founded it in 2002, it has completely revolutionized rocket launching: reusable rockets (Falcon series) drastically reduce launch costs, Starlink has covered hundreds of thousands of users worldwide, bringing high-speed internet to remote areas; Starship is aiming to be the ultimate vehicle for Mars colonization and deep space exploration.
SPCX, as Gate Pre-IPO’s first “mirror note,” allows ordinary users to lock in SpaceX’s valuation growth early—implied valuation of about $1.4 trillion, with a total issuance of 33,900 SPCX (total value about $20 million). This isn’t the traditional VC threshold of several million dollars, but an entry point in crypto that you can participate in with USDT/GUSD!
In my view, this project has both risks and opportunities: SpaceX’s technological barriers and government contracts (NASA, Starlink dual-use military and civilian) make its growth explosive, but IPO timing is uncertain, the space industry is volatile, and it may face regulatory or competitive pressures. Overall, I’m very optimistic—it represents a real step for humanity from Earth toward a multi-planet civilization! If I can get a piece of SPCX, it feels like I’ve bought a “ticket to the stars and the ocean.” 🌌

2️⃣ A quick explanation of this subscription’s details and rules
Gate Pre-IPO’s first launch of SPCX is designed to be very user-friendly, lowering the high barriers of traditional Pre-IPO, but with clear risk control mechanisms. Here are the core points (based on official announcements):
✅ Basic parameters
• Subscription price: 1 SPCX = 590 USDT
• Total supply: 33,900 SPCX (USDT pool accounts for 70% ≈ 23,730 SPCX, GUSD pool accounts for 30% ≈ 10,170 SPCX)
• Implied valuation: about $1.4 trillion
• Minimum subscription: 100 USDT / 100 GUSD (super low threshold!)
• Max per person: up to 339 SPCX
• Subscription fee: no implied transaction or custody fee this time
✅ Subscription period (note the time zone!)
• April 20, 2026, 10:00 – April 22, 10:00 #GatePreIPOs UTC(
(Which is April 20, 18:00 – April 22, 18:00 in UTC+8, only a 48-hour window!)
✅ Subscription method & allocation rules (most important!)
• Supports USDT or GUSD (GUSD not yet online, can be minted via Gate).
• Allocation mechanism: not first-come-first-served, but based on the proportion of average locked-in amount per hour during the subscription period!
Formula: Hourly average locked-in amount = (total snapshot locked-in amount per hour) ÷ 48 hours
The earlier you lock and hold, the higher the weight!
Example:
◦ Invest and lock in full during the first hour → highest weight
◦ Invest midway → half the weight
◦ Invest in the last hour → very low weight
• Funds will be locked during the subscription period, and after it ends, the system will deduct based on actual allocation, with excess automatically returned to spot accounts.
• VIP5+ users + super agents will have additional free airdrop benefits (special event, remember to claim!).

✅ Follow-up process
• Distribution time: moved up to April 22, 14:00 )UTC(
• Trading: 100% unlocked, starting April 24, 10:00 )UTC(, with pre-market trading, available 24/7!
• Exit methods: pre-market trading, converting IPO to tokenized stocks, or redeeming for USDT at real-time valuation—super flexible.
• Maturity date: December 31, 2035 (if not IPO or bankruptcy, settled according to mechanism).

⚠️ Risk reminder (must be clear)
• SpaceX is not yet listed, IPO timing is uncertain, and its value may fluctuate or even drop to zero.
• High risks from space industry policies, operations, and competition, making it a high-risk investment.
• Only for compliant users; borrowing funds, institutional/sub-accounts cannot participate.
Gate official repeatedly emphasizes: investing involves risks, do your own research!
My opinions + rule explanations are all shared—come join the discussion at Gate Square! Let’s push for SpaceX and connect crypto with space dreams! 🔥
Event details: https://www.gate.com/announcements/article/50724
Subscription page on 4/20! Are you ready to lock in? 🚀
)#GatePreIPOs首发SpaceX #Gate13周年