[//]:content-type-MARKDOWN-DONOT-DELETE Gate.io launches Pre-Market trading and will enable Pre-Market trading for Merlin Chain (MERL) on April 15th at 2:00 AM (UTC). ### About Merlin Chain (MERL) Merlin Chain is a Bitcoin Layer 2 that integrates the ZK-Rollup network, decentralized oracle network, Data Availability, and on-chain BTC fraud proof modules. It is committed to empowering Bitcoin's native assets, protocols, and products on Layer1 through its Layer 2 network, to Make Bitcoin Fun Again. [Website](https://merlinchain.io/ "Website") | [Whitepaper](https://docs.merlinchain.io/merlin-docs "Whitepaper") Total Supply of $MERL: 2,100,000,000 ### Pre-Market Trading Schedule for Merlin Chain (MERL) 1.Start Time: Pre-Market trading for MERL will commence on April 15, 2024, at 2:00 (UTC). 2.Delivery Schedule: Please refer to the trading page for the specific details of the delivery time. Pre-Market Trading Page: https://www.gate.io/pre-market Note: Please always pay attention to the delivery schedule and complete delivery on time. Failure to comply with the delivery schedule may result in the loss of collateral. Gate.io Pre-Market Trading Introduction as follows: ## What is Gate.io Pre-Market Trading? Gate.io Pre-Market Trading is an Over-the-Counter (OTC) trading service that allows investors to buy and sell new tokens before their official listing. It enables users to set prices and trade tokens at anticipated rates before public trading begins. Read More [FAQ about Pre-Market Trading](https://www.gate.io/help/pre-market_trading/pre-market/35226 "FAQ about Pre-Market Trading") [Pre-Market Trading Guide](https://www.gate.io/help/pre-market_trading/pre-market/35228 "Pre-Market Trading Guide") ## Key benefits of Pre-Market Trading It offers investors the chance to potentially acquire trending tokens at lower costs compared to the market listing price, providing a competitive edge in pricing. ## How to conduct Pre-Market Trading? On Gate.io Pre-Market Trading, traders can buy or sell specific tokens before its officially listing. Traders can choose to be a Maker, creating orders with preset prices, or be a Taker, matching active orders on the platform. Refer to the Pre-Market Trading Beginner's Guide for more details. *Note: Both buyer and seller need to pay trading fees in advance. Sellers are required to pay a collateral amount based on the collateral rate to ensure timely settlement. The collateral will be refunded after the delivery is successful. All transactions are priced in USDT.* Now, let’s take a look the two different roles in Pre-Market Trading.  Notes: 1.Only unfilled orders can be canceled, orders cannot be canceled once matched with a counterparty. 2.Unfilled orders will be automatically canceled after the Pre-Market trading ends. ## Terms Explained  ### Changes in Token Listings on Gate.io (1) If there's a listing delay, executed Pre-Market trading orders stay valid. New delivery times will be notified through Gate.io announcements and emails. (2) If the listing is canceled, all Pre-Market trading orders are voided. Users receive refunds for frozen collateral within a working day, with no trading fees charged. ### Fee Structure **Transaction Fee: **The transaction fee rate applies to the total order value of matched orders. Check the latest rates on the trading page. **Other Fees:** If the seller misses the delivery time, a 10% collateral will be retained as a fee by the platform, with the remaining 90% compensated to the buyer. ### Disclaimer Please note that Pre-Market trading carries various risks, including limited liquidity, large bid-ask spreads, and price uncertainty.