According to ChainCatcher, citing an official Gate announcement, the platform has completed the stock distribution for SpaceX (SPCX), the first project under its Direct IPO program. Users who participated in the subscription can now go to their stock accounts to check the SPCX stock assets that have been credited. Any unallocated portion, together with remaining subscription funds, has been automatically returned to users’ spot accounts.
SPCX Distribution Completed as Assets and Funds Are Settled
The announcement focuses on two completed arrangements: the delivery of SPCX stock assets and the return of unused funds. Users who received an allocation can view their SPCX holdings in their Gate stock accounts. For subscription amounts that were not allocated, as well as any remaining funds after the subscription process, Gate said the assets have been automatically sent back to the relevant spot accounts.
Following the completion of the stock distribution, SPCX will move into the market trading stage in accordance with the process for new U.S. stock listings. Gate described SpaceX (SPCX) as the first project under its Direct IPO initiative, and the distribution marks the completion of this phase before the project proceeds through the next step of the U.S. listing workflow.
User Benefits and the “SPCX Stock Launch Plan”
At the same time, Gate has introduced exclusive benefits for users who subscribed to SpaceX (SPCX). According to the platform, eligible users who participate in designated USDT Yu Bi Bao products can receive up to 200% annualized yield. Users holding USD1 can also receive additional yield rewards. These benefits are being offered alongside the completion of the SPCX distribution.
Gate has also launched a limited-time campaign called the “SPCX Stock Launch Plan.” During the campaign period, users who participate in stock trading can claim a first-trade reward. Users who share their SPCX holdings have a chance to receive stock airdrops. In addition, users who complete specified trading volume requirements and take part in the ranking competition can share a prize pool totaling 50,000 USDT worth of SPCX stock.
The platform also announced that Gate Stocks has launched stock trading on the Web, expanding coverage across both the App and Web versions. Gate Stocks supports trading of more than 10,000 major U.S. market stocks and ETFs using USDT, covering major U.S. securities markets including the New York Stock Exchange and Nasdaq. It also supports fractional-share trading with a minimum purchase size of 0.01 share. With the rollout of Direct IPO, Gate said it is gradually improving a product ecosystem that covers Pre-IPO, IPO and stock trading, aiming to provide users with a more convenient one-stop global investment experience.