The third phase opens subscriptions from August 11 to August 13, 2026, with 100% unlocked issuance on August 17 and a dedicated pre-listing certificate market planned about a month later.
Gate Pre-IPOs is rolling out the third phase of its pre-listing product with Moonshot AI (KIMI), adding a dedicated trading mechanism aimed at giving users a separate channel to trade and circulate pre-listing asset certificates. The KIMI certificate is structured as a mirror note, designed to track changes in Moonshot AI's enterprise value. Subscriptions run from August 11, 2026, 15:00 to August 13, 2026, 15:00 (UTC+8), and participants can use USDT and GUSD. After the subscription period closes, the certificates are scheduled to be fully unlocked and issued on August 17, 2026, at 15:00 (UTC+8). Unlike earlier Gate Pre-IPOs offerings, this phase is expected to open a dedicated secondary market about one month after subscription and distribution are completed, allowing holders to trade at real-time market prices, sell part of their position to recover principal, or keep exposure to future changes in the target company's value. The profit holding period is expected to span from several months to several years, depending on Moonshot AI's IPO process or other exit arrangements. If the company completes an IPO in the future, the platform said it will provide follow-up asset handling options based on actual conditions, including stock asset exchange or stock token exchange methods.