According to an official announcement cited by TechFlow on June 11, Binance Wallet has launched the SPCXx IPO Campaign, opening applications for eligible users to participate through xStocks in a non-guaranteed subscription for SpaceX-related tokenized securities. The campaign is accessed through Binance Wallet, while the final allocation depends on the completion of the issuance process.
Application Window and Allocation Process
The subscription application period for the SPCXx IPO Campaign runs from June 11, 2026 at 8:00 to June 12, 2026 at 12:00, with all times stated in UTC+8. Users who receive an allocation will get SPCXx tokens after the issuance is completed. Funds from users who do not receive an allocation will be refunded in full. As the subscription is non-guaranteed, submitting an application does not equal a confirmed allocation.
The SPCXx token is provided by Backed through xStocks. It is designed to provide price exposure related to the SpaceX IPO. The announcement states that the token does not represent direct ownership of SpaceX shares and does not carry shareholder rights such as voting rights or dividend rights. The minimum subscription amount is 100 USDC, the indicative price is 135 USDC per token, and the underwriting service fee is 5%.
Alpha Points-Based Quota Structure
The subscription uses a Binance Wallet Alpha points range-based quota mechanism. Under the disclosed calculation method, users with Alpha points greater than 0 have a staking share of 20,000; users with Alpha points greater than 40 have a staking share of 100,000; users with Alpha points greater than 100 have a staking share of 200,000; and users with Alpha points greater than 200 have a staking share of 500,000.
Based on the announcement, the main parameters of the SPCXx IPO Campaign include the application window, minimum subscription size, indicative token price, underwriting service fee, and the staking-share tiers tied to Alpha points. The notice also distinguishes the tokenized securities exposure from direct share ownership, stating that SPCXx holders do not receive the shareholder rights attached to SpaceX stock.