Bybit Launches MOONSHOT Pre-IPO Perpetual Contract

On August 7, 2026, Bybit will list the MOONSHOTUSDT Pre-IPO Perpetual Contract, offering traders a synthetic derivative to speculate on Moonshot AI's estimated valuation before its initial public offering. The contract allows for leveraged exposure and is settled in USDT, without granting ownership of actual shares.

The pre-IPO contract's pricing is based on the company's estimated share price multiplied by the estimated number of shares, approximating its market capitalization. During the pre-IPO period, the contract will have a fixed mechanism with a 0.005% adjustment every four hours. Once the actual share count is available, Bybit may perform a Rebase to align the contract with the real share structure, ensuring the contract's value remains consistent.

The trading schedule includes a call auction starting at 11 am UTC, with order withdrawal available for 20 minutes, followed by match-making and continuous auction phases. The contract specifications and mechanisms are subject to change, and trading involves significant risks, including potential loss of margin due to leverage and volatility.

Bybit emphasizes that this product is a synthetic derivative and does not involve ownership of company shares. The listing is subject to regional restrictions, notably excluding Hong Kong. Traders should review full risk disclosures and terms in the Help Center before participating.