KuCoin Pre-Market Trading User Guidelines

 

1. Definition of Pre-Market: The Pre-Market is an Over-The-Counter (OTC) trading platform exclusively available before the official launch of a new token. It allows buyers and sellers to set their price quotes and match trades, securing their desired prices and liquidity in advance. Ensure you possess adequate funds before trading and fulfill delivery within the agreed-upon time frame.

 

2. Delivery Time Explained: This refers to the scheduled period during which the token is expected to transfer from sellers to buyers. It's essential to remain aware of the delivery time's time zone. Normally, the sellers will have 4 hours to prepare for delivery after the Spot Trading starts.

 

 

 

3. Collateral Pledge Rate: It denotes the fraction of an order's total value that must be deposited as collateral. Failure to complete the delivery within the specified time may result in the loss of the entire collateral.

 

 

4. Transaction Fee Rate: This is a specified percentage based on the transaction value, and it varies depending on the token being traded.

 

 

 

5. Pre-Market Trading Schedule: The operational hours for the Pre-Market align with the official listing time of the new token. Once KuCoin commences trading for the new token in the main market, Pre-Market trading is halted.

 

 

6. Protocol for Delayed or Cancelled token Listings:

In the event of a delay or cancellation of the token listing, the Pre-Market orders will either be postponed or canceled altogether.

● Delay: Filled orders remain valid. The new delivery time will be announced by KuCoin. Unfilled orders will be canceled if Pre-Market has closed.

● Cancellation: All orders are nullified. Frozen funds due to Pre-Market trading are typically refunded to the user's trading account within one business day. Trading fees will not be charged.

 

7. Calculation of Frozen Amount in Pre-Market:

The frozen amount during Pre-Market trading is the product of the total Pre-Market token turnover and the pledge rate (Z%). For instance, if Z=100%, the frozen amount for both buying and selling 1000USDT of a Pre-Market token would be 1000USDT.

 

8. Order Cancellation Guidelines:

● Uncompleted Orders: These can be cancelled by either the buyer or seller without incurring any fees.

● Completed Orders: Once finalized, these orders remain irrevocable unless the associated token's listing is cancelled.

 

9. Fee Structure in Pre-Market:

Normally, a fee of 2.5% is applied to the total trading amount. Depending on the traded token, there may be minimum or maximum charges per order.

Clearance fee: In cases where the buyer or seller fails to deliver within the designated time frame, KuCoin will impose a clearance fee, which will be deducted from the collateral.

It's important to note that fees are not incurred on uncompleted orders. Additionally, fees from Pre-Market trading are distinct from KuCoin's main market fees.