BiyaPay Announcement on Listing SPCXUSDT Pre-IPO Perpetual Contracts

Dear BiyaPay Users:

BiyaPay will launch perpetual contract trading pairs SPCXUSDT Pre-IPO on May 22, 2026 at 16:30 (UTC+8), providing users with more trading options and enhancing the trading experience!

Project Introduction

• Underlying Asset Name: Space Exploration Technologies Corp. (SPCX)

• Ticker: SPCX

• Estimated Number of Shares: 11.87 billion shares

The estimated number of shares is for reference only and does not constitute any form of representation, warranty, recommendation, or advice. BiyaPay makes no guarantee regarding the actual total number of shares of the Pre-IPO asset. The actual total number of shares may differ from the estimated number of shares. BiyaPay reserves the right to adjust the Contract Size of the Pre-IPO Perpetual Contract based on the actual total share capital. Pre-IPO investments involve significant risks. You should conduct your own research and independently assess the risks before making any investment decision.

About the Mark Price

1. Mark Price During Pre-IPO Trading

Before the final IPO price is announced, the mark price during Pre-IPO Perpetual Contract trading will be calculated as follows:

Mark Price = Average trading price over the past 10 seconds, calculated once per second

If there are fewer than 21 executed trades within the past 10 seconds, the average price of the most recent 100 trades of the Pre-IPO Contract will be used.

The mark price will be subject to a ±1% price limit, meaning that the mark price change between each one-second interval shall not exceed ±1%. This price limit applies during both the Pre-IPO trading period and the transition period from the Pre-IPO Contract to the standard contract.

2. Transition Period from Pre-IPO Perpetual Contract to Standard Contract

When BiyaPay RIE issues an exchange announcement confirming the transition, referred to as the “Pre-IPO Perpetual Contract Transition Announcement,” the Pre-IPO Perpetual Contract will transition into a standard TradFi Perpetual Contract.

This transition will take place on the official IPO listing date, when BiyaPay obtains a stable price index from third-party data providers. The mark price will gradually transition from the Pre-IPO Perpetual Contract mark price to the standard mark price.

After the official listing, the price may experience significant volatility, and the stock price may never reach the IPO price.

3. Mark Price After the Pre-IPO Perpetual Contract Transition Ends

After the transition period of the Pre-IPO Perpetual Contract ends, the mark price will be calculated as follows:

Mark Price = Median (Price 1, Price 2, Contract Price)

Risk Disclaimer

Digital asset prices are subject to high market risk and price volatility. Your investment value may fluctuate and you may lose your invested amount. You are solely responsible for your investment decisions, and BiyaPay is not liable for any potential losses. Contract trading, in particular, is subject to high market risk and price volatility. In the event of adverse price movements, all of your margin balance may be liquidated. Past performance is not a reliable indicator of future performance. Before trading, you should assess whether trading is suitable for you based on your own objectives and circumstances, including risks and potential benefits, and consult an independent financial advisor. This document should not be considered as financial or investment advice. If the IPO listing fails, the Pre-IPO Perpetual Contract will be removed, and BiyaPay will issue an IPO failure notice.

Contact Information

Thank you for your trust and support in BiyaPay! If you have any questions, please feel free to contact our customer service team:

Customer Service Email: service@biyapay.com

Customer Service Telegram: @biyapay001

Telegram Group: https://t.me/Biyapayinternational

Discord Community: https://discord.com/invite/9svgGQpsQ4

About BiyaPay

BiyaPay is a global multi-asset trading wallet that uses USDT as a medium to support mutual exchange between over 30 fiat currencies and over 200 digital currencies, providing users with safer and faster international remittances. It also supports USDT trading of US and Hong Kong stocks, allowing users to participate in stock trading in real-time without applying for offshore accounts, with real-time deposits and withdrawals. One account and one fund can invest in global and US-Hong Kong stock markets.

BiyaPay Team

May 22, 2026