Blum (BLUM) Goes Live on BingX Pre-Market Trading Platform
BingX has officially launched pre-market trading for Blum (BLUM), a Toncoin-based decentralized exchange (DEX). This unique opportunity allows users to participate in over-the-counter (OTC) trading for BLUM before its official listing. As interest in the hybrid exchange grows, traders are encouraged to explore its various innovative features.
Blum's Unique Hybrid Exchange Model
Blum stands out in the market with its hybrid exchange design, offering universal token access via gamification in a Telegram mini-app. It integrates both centralized exchange (CEX) and decentralized exchange (DEX) functionalities, all within one platform. Blum supports over 30 networks, providing users with a seamless experience to trade a variety of tokens. Some of its standout features include AI navigation, peer-to-peer (P2P) trading, derivatives trading, and more, positioning Blum as a dynamic player in the rapidly evolving cryptocurrency landscape.
BingX has preemptively set the total supply of BLUM tokens at 10 billion. However, once the project reveals its detailed tokenomics, the trading platform will recalibrate the price and order amounts accordingly. While the total value of orders will remain the same, the specific token amounts may adjust based on the actual circulating supply.
BingX Pre-Market Trading: Unlocking Early Opportunities
Pre-market trading on BingX operates in three main stages: project selection, order creation, and order delivery. By participating in this phase, users can secure early access to tokens like BLUM before their official listing, enhancing potential opportunities for returns.
1. Project Selection
To begin, users must log into their BingX account, ensuring they have completed advanced KYC verification. Once verified, users can navigate to the Pre-Market Trading section and select a project currently in its trading phase, such as BLUM. From here, they can view all relevant details, including available orders created by buyers and sellers.
2. Order Creation
For creating orders, users have two primary roles: Maker or Taker.
As a Maker: Users can create a "Buy" or "Sell" order by entering the desired price and token amount. After reviewing, the order is confirmed and listed on the platform.
As a Taker: Users can browse existing orders under "Buy" or "Sell" sections and select one that fits their criteria. Partial fills are not allowed, so the entire order must be filled to proceed.
Fund freezing ensures security during this process, with buyers having their order value and fees frozen, while sellers’ collateral and fees are similarly held until order completion.
3. Order Delivery
Once an order is successfully matched, buyers can expect token delivery at the designated time, or earlier if the seller opts for early delivery. Sellers need to ensure they have deposited the necessary token amounts into their BingX Fund Account before the delivery deadline. Both buyers and sellers can monitor and manage their orders through the "My Orders" section.
Token Supply and Recalibration
The total supply of BLUM tokens is still to be finalized by the project team. Currently, BingX has set a temporary supply figure of 10 billion. However, once the actual tokenomics are announced, the platform will adjust both the token price and the amount of tokens allocated to each user’s order, ensuring proportional fairness. For example, if the actual supply is less than 10 billion, the token price will increase, and users will receive fewer tokens, but the order value in USDT will remain constant.
Important Considerations for Traders
Participants should be aware that orders delivered early cannot be revoked, and delivered tokens can be withdrawn at any time. Moreover, BingX has outlined several terms and conditions, including the need for advanced KYC verification, exclusion of non-individual accounts from participation, and disqualification of users engaging in fraudulent activities. BingX reserves the right to modify or cancel the event as necessary, while keeping participants informed of any significant changes.
BingX Pre-Market Trading presents an exciting opportunity for users to gain early access to BLUM tokens and position themselves ahead of the official listing. By leveraging this feature, traders can participate in the hybrid exchange's growth and tap into its extensive functionalities. However, as with all cryptocurrency investments, traders are advised to exercise caution, stay informed, and be aware of the inherent risks in this highly volatile market.
Risk Warning: Cryptocurrencies are subject to high volatility and involve significant risk. Investors should proceed with caution, carefully evaluate potential risks, and invest prudently.