Gate Pre-IPOs Phase 3 Launches Moonshot AI (KIMI), Supporting Dual-Token Subscription with USDT and GUSD
- Core Insight: Gate Exchange has launched the Phase 3 Pre-IPOs project, offering global users the opportunity to participate in early-stage value investment in AI unicorn Moonshot AI before its listing through KIMI asset certificates. This represents an innovative exploration of integrating the traditional Pre-IPO market with digital assets.
- Key Elements:
- The target project is the AI company Moonshot AI, whose Kimi AI assistant features ultra-long context processing, multimodal capabilities, and intelligent agent technology, with an implied market value of approximately $50 billion.
- The subscription period runs from August 11 to 13, 2026, at a price of $105–$115 per share, with support for USDT/GUSD subscription and a minimum single transaction of 10,000 USDT or GUSD.
- KIMI is structured as a mirror note (or contingent payment note). After subscription, it will be 100% unlocked on August 17, with a dedicated market trading venue opening approximately one month later (Maker fee 0.5%, Taker fee 1.5%).
- The fee structure consists of a 5% underwriting service fee plus a 20% excess return carry. GUSD subscriptions earn a 3.8% yield on U.S. Treasury-backed demand deposits, while users who subscribe with USDT but do not receive allocation will receive a 3.8% annualized subsidy.
- Risk disclosure: The underlying asset is not yet listed, and there are risks related to uncertain listing timelines, market volatility, and liquidity. In the event of a failed listing or a triggering of the ROFR clause, refunds will be processed according to the rules with adjusted fees.
- Gate has built a diversified asset service ecosystem including Pre-IPOs, direct IPO access, stock trading, and gStocks tokenized securities, serving 58 million users and 4,900+ crypto assets.
Gate, a leading global digital asset trading platform, has announced the launch of its third Pre-IPOs subscription round, featuring Moonshot AI, an artificial intelligence company, with the introduction of KIMI asset certificate subscriptions. Users can participate using USDT or GUSD, positioning themselves early for potential value opportunities ahead of the AI unicorn's IPO.
Moonshot AI is one of the leading artificial intelligence companies, focusing on large model technology development and the exploration of general artificial intelligence. Its Kimi AI assistant, powered by ultra-long context understanding, multimodal capabilities, and intelligent agent technology, has attracted market attention in the AI application space, continuously driving the adoption of AI technology in knowledge processing, content creation, and productivity scenarios.
The KIMI asset certificate is a Mirror Note issued prior to Moonshot AI's IPO, designed to mirror the market value of Moonshot AI both before and after its listing. It functions as a Contingent Payout Note. Through a dedicated market trading mechanism, Gate offers users the opportunity to participate in the target company's pre-IPO value growth and long-term holding.
The subscription period for this Moonshot AI (KIMI) round runs from 15:00 on August 11, 2026 to 15:00 on August 13, 2026 (UTC+8), with a subscription price of $105-115 per share (final pricing subject to actual results). The project's implied market capitalization is approximately $50 billion, supporting dual-currency subscriptions in both USDT and GUSD, with a minimum subscription amount of 10,000 USDT or 10,000 GUSD per transaction. Additionally, this round carries a 5% underwriting service fee, and should excess returns materialize in the future, a 20% performance fee (Carry) will be charged on the profitable portion.
Following the conclusion of the subscription period, KIMI asset certificates will be fully unlocked and distributed at 15:00 (UTC+8) on August 17, with dedicated market trading opening approximately one month after distribution. Trading fees for the dedicated market are set at 0.5% for maker orders and 1.5% for taker orders. If the target company ultimately completes a successful IPO, the platform will provide subsequent asset processing solutions based on actual circumstances.
In parallel, Gate has rolled out multiple subscription benefits. Eligible VIP users can participate in the Moonshot AI (KIMI) exclusive airdrop program; users subscribing with GUSD can enjoy 3.8% yield on U.S. Treasury bills, with returns distributed automatically on a daily basis and supporting 0-fee redemption in the original currency. For USDT subscribers who do not receive an allocation, the platform will subsidize returns at an annualized rate of 3.8% on the subscribed funds, calculated based on hourly snapshots, and distributed to the spot account along with the returned funds.
At the same time, Gate reminds users to be aware of related risks. As the target company has not yet gone public, the project carries risks including uncertainty around listing timelines, market volatility, and liquidity fluctuations. If the target company ultimately fails to complete its IPO, or if the underlying mirror asset triggers ROFR or other factors leading to cancellation of the asset, the project will process refunds in accordance with the rules, with secondary market trading profits, losses, and fees adjusted according to the mechanism.
As AI, RWA, and digital assets continue to converge, Pre-IPOs are becoming an important avenue connecting growth opportunities from innovative companies with global investors. Currently, Gate has built a diversified asset service system around products including Pre-IPOs, direct IPOs, stock trading, and gStocks tokenized securities, exploring new connections between traditional financial assets and the digital asset ecosystem. Looking ahead, Gate will continue to deepen its presence in stocks, ETFs, RWAs, and other innovative asset categories in line with the global trend of asset digitization, expanding more diverse investment scenarios and providing users with an integrated, one-stop service experience covering asset discovery, participation, and circulation.
Participate in the subscription: https://www.gate.com/ipos/34
Learn more: https://www.gate.com/zh/announcements/article/101035
About Gate
Founded in 2013 by Dr. Han, Founder and CEO, Gate is one of the world's leading cryptocurrency and comprehensive financial services platforms. With over 58 million users, it supports trading of 4,900+ crypto assets and 12,500+ stock assets, comprehensively covering TradFi assets including metals, stocks, indices, forex, and commodities, delivering a one-stop, multi-asset trading experience for users. As an industry benchmark, Gate was the first to achieve 100% proof of reserves, encompassing a diverse product and ecosystem layout including Gate Wallet, Gate Ventures, and Gate for AI Agent.
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Disclaimer:
This content does not constitute any offer, solicitation, or advice. You should always seek independent professional advice before making any investment decisions. Please note that Gate may restrict or prohibit all or part of its services from restricted regions. Please read the User Agreement for more information.
