Pre-IPO Markets
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Pre-IPO markets follow the same design as other RWA markets, with a few important differences.
Pricing is determined only by the internal pricing mechanism.
This mechanism works the same way as for RWA markets, except Pre-IPO markets do not have price caps.
Pre-IPO markets operate in isolated mode only.
Unlike prelaunch markets, liquidation fees still apply since the LLP is going to be a market-maker on these markets.
Funding works the same way as standard perp markets.
Pre-IPO markets will either be settled after the IPO or have their prices adjusted once the number of fully diluted shares becomes clear. In either case, any changes will be announced at least one day before they are carried out.
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