Gate Opens the Pod Bay Doors: OpenAI Pre-IPO Certificates Hit the Exchange 🪐

Gate announced the launch of Pre-IPOs Phase 2, featuring OpenAI (OPENAI), with subscriptions opening July 15, 2026, at 07:00 UTC and closing July 17, 2026, at 07:00 UTC. The offering carries a total subscription value of approximately $20 million, supported by subscriptions in both USDT and GUSD. A total of 27,700 OPENAI Asset Certificates will be available at a commitment price of $722 per OPENAI, with a minimum subscription of 100 USDT or 100 GUSD per order. The subscription waives both the implied trading fee and custody fee.

OPENAI Asset Certificates are structured as Mirror Notes issued before OpenAI's IPO and designed as Contingent Payout Notes (CPNs) to provide exposure to the company's pre-IPO valuation. Gate stated that it obtains hedging exposure to OpenAI shares in the market, offering holders multiple exit options or long-term holding methods aligned with the target company's fair market value. After the IPO and any applicable lock-up period, holders will be able to exchange their Asset Certificates for shares, tokenized stocks, or USDT based on the actual post-listing market price through Gate's dedicated redemption portal.

OpenAI, the developer of ChatGPT, currently carries an implied valuation of approximately $895 billion and has received continued investment from Microsoft. Gate Pre-IPOs uses users' hourly average locked amount as the basis for allocation, with earlier subscribers receiving higher allocation weight. Following the subscription period, OPENAI Asset Certificates will be distributed across three unlock phases: 25% on July 17, 35% on August 17, and 40% on September 17, 2026. Pre-market trading in the Gate Pre-IPOs section will begin on July 20, 2026, at 08:00 UTC, subject to market conditions.

Subscribers will have access to multiple rewards, including GT Sunshine Airdrop rewards and GUSD Minting returns, according to Gate.