# Сопутствующие статьи по теме TGE

Новостной центр HTX предлагает последние статьи и углубленный анализ по "TGE", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

HTX Research's Latest Report Deciphers Pre-Market Trading Ecosystem: How a Hundred-Billion-Dollar Market Reshapes the Starting Line of Web3 Assets

HTX Research, the dedicated research arm of HTX, has released a new report titled "Pre-Market Trading Ecosystem: Mechanism Evolution, Market Structure, and Future Trends Behind a Ten-Billion Scale." The study systematically examines the formation, asset structures, and major models of the pre-market trading ecosystem in crypto, as well as its profound impact on project issuance and exchange systems. The report highlights the emergence of a "1.5-level market" that bridges primary and secondary markets, driven by tightened funding conditions and extended token generation event (TGE) timelines. This pre-market allows early contributions and future expectations to be transformed into tradable instruments. Three core asset structures form this ecosystem: pre-market OTC, spot, and perpetual contracts tied to future token value; tradable points systems linked to airdrop incentives; and NFT-based rights such as whitelist spots and early access passes. Together, these create a multi-layered pre-trading system. HTX has actively explored this space, launching pre-market perpetual contracts for assets like WLFI before their official listings. While pre-market has reached a multi-billion dollar scale with strong growth potential, it also faces challenges including thin liquidity, information asymmetry, and a lack of standardized regulations. Ultimately, pre-market trading is evolving from a grey-area activity into a structured, institutionalized market layer that is reshaping project launches, exchange strategies, and early user participation in crypto.

marsbit12/18 08:57

HTX Research's Latest Report Deciphers Pre-Market Trading Ecosystem: How a Hundred-Billion-Dollar Market Reshapes the Starting Line of Web3 Assets

marsbit12/18 08:57

Compliance Guide for Utility Token Issuance

"Functional Token Issuance Compliance Guide" This guide outlines the legal framework for issuing utility tokens, emphasizing that regulatory risk depends not on the token's description, but on its economic reality. A token's classification as a security is determined by market behavior and investor expectations, not technical promises, as seen in cases like Telegram's TON. Projects fall into two main categories with different compliance paths: Infrastructure projects (e.g., Bitcoin, Celestia) often use fair launches for lower risk, while Application-layer projects (e.g., DeFi, GameFi) require careful legal structuring due to higher regulatory scrutiny. Key stages and actions are detailed: * **Testnet Phase:** Separate development (DevCo) and token/ecosystem (Foundation) entities. Use equity + token warrants for fundraising, not direct token sales, to avoid triggering securities laws prematurely. * **Mainnet Launch (TGE):** This is a high-risk phase. Ensure clear disclosure of token utility, allocation, lock-ups, and conduct KYC/AML. Avoid marketing that promises profit. Public airdrops and sales are closely watched. * **DAO Stage:** Achieve true decentralization by relinquishing team control to community governance (e.g., Uniswap DAO). This "verifiable exit" is crucial for reducing securities risk. The core compliance challenge is proactively demonstrating the token is *not* a security by emphasizing its functional use, avoiding profit promises, and progressively decentralizing. Compliance is a continuous process, not a one-time approval. A robust legal structure is the essential foundation for a sustainable project.

marsbit12/17 02:11

Compliance Guide for Utility Token Issuance

marsbit12/17 02:11

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