Gate has opened the application portal for digital Pre-IPOs, allowing users worldwide to participate in high-quality asset subscriptions.

In April 2026, Gate officially announced the launch of a brand-new digital Pre-IPOs participation mechanism, and the reservation entry is now open. Under this mechanism, without changing the core compliance process of traditional IPOs, users can subscribe directly with stablecoins within the platform, with no complex procedures or high capital thresholds—giving more everyday investors the opportunity to participate in high-quality IPO projects.

This milestone innovation marks Gate’s leading position in building infrastructure for TradFi (traditional finance) trading zones, taking blockchain technology from mapping underlying assets to digital confirmation of real equity rights. The mechanism uses a “dual-track structure,” combining the traditional IPO process with an on-chain distribution mechanism. Key steps such as underwriting, roadshows, and allocations remain unchanged, while some shares are delivered through on-chain infrastructure.

Dual-track structure: Traditional process and on-chain distribution in parallel

To understand the significance of this innovative initiative, first clarify its positioning. According to Gate’s official announcement, the mechanism adopts a “dual-track structure.” Under this framework, the core stages of an IPO—including underwriting, roadshows, and allocations—remain unchanged, continuing the existing regulatory and issuance framework. At the same time, some shares will be delivered on-chain through compliant on-chain infrastructure.

The brilliance of this design lies in:

• For the issuer: without affecting existing listing processes, it can reach a broader group of crypto-native investors, introducing new channels to increase market demand.
• For investors: users can directly hold real security tokens on-chain and enjoy the same rights as traditional shareholders, including voting and dividends.
• For market structure: positioning blockchain as a “technology upgrade for recording and transferring ownership,” rather than restructuring ownership rights themselves, thereby ensuring compatibility with the current securities regulatory framework.

Native digitalization: Real equity tokens vs wrapped/synthetic assets

Under Gate’s Pre-IPOs mechanism, the shares delivered on-chain are compliant “native digitalized equity.” This means the token itself is a legal, regulated issuance of securities in digital form, managed through a regulated transfer agent structure—not merely a simple price-tracking derivative.

To understand the advantages of this model, first clarify a core concept: what you hold—real equity, or only derivative exposure to price?

For a long time, many digital stocks circulating in the market have belonged to “wrapped” or “synthetic” models. These models are typically issued by third-party institutions. While the underlying assets are anchored to traditional stocks, investors do not directly own the company’s shareholder rights (such as voting rights and dividend rights).

Native digitalization is completely different. Take the model introduced by Gate as an example: the token itself is a digital mapping of a legally issued security. When you hold these tokens on-chain, you are not holding an intermediary’s “receipt,” but rather legitimate rights that are directly reflected in the regulated shareholder records.

The core differences between the two models are as follows:

Efficiency gains brought by on-chain components

Introducing on-chain components into the traditional IPO process is not meant to “overthrow,” but to “optimize.” Specifically, this design brings efficiency improvements to the market in the following areas:

• Continuous trading and enhanced liquidity: digital shares can be distributed to verified wallets and traded in a compliant environment. Users can trade stock tokens on-chain in real time and benefit from faster settlement.
• Substitutability and cross-market transferability: digital shares remain substitutable with their traditional underlying counterpart assets, enabling movement between different trading venues. This means the shares of the same company can be traded on traditional exchanges as well as in compliant on-chain markets, allowing investors to flexibly choose how to hold and trade based on their preferences.
• More efficient price discovery: interoperability between traditional exchanges and on-chain markets makes more efficient price discovery possible. When market conditions and operating factors allow, market makers can provide liquidity across markets, promoting price convergence across different trading systems and ultimately benefiting all market participants.
• Real-time visibility of shareholder records: on-chain components also come with mechanisms such as identity verification, transfer controls, and real-time visibility of shareholder records. Under compliant conditions, issuers can understand their shareholder structure more clearly, which is of significant value for subsequent investor relations management and corporate governance.

Gate reservation users’ exclusive privileges: locking in the IPO lottery upside of the digital era

Gate always places user rights and compliance security first. To ensure a smooth and fair participation experience for the first batch of Pre-IPOs, Gate has now opened the reservation entry mechanism. Users who successfully enter the first-off reservation list will receive highly competitive core benefits—completely bidding farewell to the high barriers and uncertain random allocation in traditional IPO lottery participation.

Specific exclusive privileges include:

• 100% priority subscription right: for 24 hours before the public offering phase opens, users on the reservation list will enjoy a dedicated application channel to ensure subscription quotas, without having to compete fiercely in the public offering.
• Seizing future opportunities for high-quality IPOs: members of the reservation list will continue to receive early participation eligibility for platform-selected new shares, gaining priority access to potentially high-growth targets and expanding their long-term investment plans.

Outlook: How on-chain technology could change the future of everyday investors

For everyday investors, Gate’s Pre-IPOs mechanism may bring the following disruptive changes:

• Lower participation threshold: any eligible Gate user can participate in on-chain stock token purchases without cumbersome procedures and restrictions from high capital thresholds, letting users truly go straight to the world’s top IPOs.
• More efficient trading experience: faster, more flexible trading, supporting real-time buying/selling and cross-market transferability, surpassing the delayed wait of traditional securities trading**.**
• More transparent ownership records: what you hold is no longer an intermediary’s “receipt,” but legitimate rights recorded in a regulated shareholder registry. Leveraging blockchain’s tamper-proof characteristics, every right can be clearly verified.

Closing

With the launch of Gate’s Pre-IPOs participation mechanism, this is not only a product iteration, but also a strong confirmation of Gate’s forward-looking deployment in the field of on-chain capital market infrastructure. By combining strict compliant issuance mechanisms with efficient blockchain distribution capabilities, Gate aims to reshape global stock issuance rules, bringing unprecedented financial liquidity and investment freedom to users worldwide.

Gate’s Pre-IPOs reservation entry is now fully open. Review will be conducted strictly in the order of applications. Join now to secure exclusive IPO allotment privileges of the digital era and first-offering benefits.