CoinUp Launches CPX Ecosystem Token IEO, Spot Trading Starts June 9 at 20:00 UTC+8

According to ChainCatcher, CoinUp announced on June 8 the launch of its ecosystem token CPX with a genesis IEO. The token IEO features a "loss-free subscription" mechanism, where participants' funds will be automatically refunded in full after the event concludes; if oversubscribed, CPX will be allocated proportionally to all eligible participants.

IEO subscriptions will be open from June 8 at 12:00 to June 9 at 14:00 UTC+8, with token settlement and distribution occurring from 14:00 to 16:00 UTC+8 on June 9. CPX spot trading will launch at 20:00 UTC+8 on June 9. As the successor to platform token CP, CPX will be used across VIP benefits, trading fee discounts, governance, and value capture.