The USDT-settled contract is designed for market-based valuation and price discovery of Moonshot AI, which has not yet held an IPO, using an assumed total share count of 10 billion shares.
Gate has listed KIMIUSDT pre-market perpetual futures, a USDT-settled contract that allows users to take long and short positions with 1x to 10x leverage selected at the time of order placement. The product is tied to Moonshot AI, the parent company of Kimi, and is intended to provide market-based valuation and price discovery for the company’s stock before any formal listing. Moonshot AI is described as an AGI unicorn focused on self-developed general large language models and as a top-tier AI startup in domestic fundraising scale and technical performance. The company has not officially gone public, and the contract assumes Moonshot AI will have 10 billion shares outstanding after issuance, with pricing denominated in USDT. As a price reference, the material says that as of July 2026, Moonshot AI’s latest pre-money valuation had risen to $31.5 billion, with an approximately $30 billion post-money valuation. It also provides illustrative reference prices based on different market capitalizations: about $3.49 per share at a $30 billion valuation, about $4.66 at $40 billion, and about $5.82 at $50 billion.