In 2026, ordinary users will have the opportunity to participate in a 'Pre-IPO' offering.
For a long time, equity in global top unicorns like SpaceX and ByteDance has been restricted to a private club of only a handful of elite venture capital firms and billionaires, leaving ordinary investors almost no opportunity to benefit from the growth of these companies before their IPOs.
Today, this pattern has been completely shattered.
MaiTong MSX has officially launched its "Pre-IPO" section, built on a strategic partnership between MSX and Republic, a U.S.-compliant private securities platform. Through asset tokenization, this section brings equity stakes in private companies onto the blockchain. The initial offering includes allocation access to SpaceX, ByteDance, Lambda Labs, and Cerebras Systems, marking a major step toward democratizing asset ownership.
What is the "Pre-IPO" section?
It is well known that private equity in top pre-IPO companies typically offers high return potential, but is primarily accessible to institutional investors and high-net-worth individuals. The minimum investment thresholds of hundreds of thousands or even millions of dollars, along with strict investor eligibility requirements, make it difficult for the vast majority of retail investors to participate in this stage of company growth.
Maitong MSX's "Pre-IPO" section (https://msx.com/ipo) is an innovative structural initiative introduced in this context.
Through a strategic partnership with the U.S.-compliant asset tokenization platform Republic, MSX structurally maps unlisted private equity interests held within compliant channels into divisible on-chain tokens, with the underlying equity held through a compliant structure and custodied by a regulated third-party custodian.
Republic operates within the U.S. securities regulatory framework and previously provided structural support for Robinhood’s launch of tokenized shares of private companies such as SpaceX and OpenAI in Europe. This means that MSX’s Pre-IPO section is not merely a simple "on-chain wrapper," but rather a tokenization of assets built upon an existing compliance framework.
In short, each token represents an economic interest in the underlying unlisted company’s equity and is held and custodied within a compliant structure.
Under this structure, eligible users can participate in equity allocation of unlisted companies at a low entry threshold (as low as 10 USDT). After subscribing, users receive tokens representing their share of the equity and benefit from the appreciation of the underlying assets.
II. First Batch of Assets: Focused on the Next Generation of Tech Giants
The first batch of Pre-IPO allocations covers four of the world’s top private companies, each representing cutting-edge directions in their respective industries (specific allocations and terms subject to platform announcements).
First is SpaceX, with an allocation of $3 million, a unit price of $607.65, and a valuation range of $1.25 trillion to $1.5 trillion.
SpaceX, founded by Elon Musk in 2002, is the world’s leading aerospace manufacturer and space transportation services provider, having revolutionized the traditional aerospace industry with its groundbreaking reusable rocket technology.
In addition, its Starlink project is building the world’s largest low-Earth-orbit satellite broadband network, achieving significant commercial monetization globally. Recent expectations of a merger with the AI company xAI have further unlocked limitless potential around “space + general artificial intelligence,” solidifying its position as a benchmark among the world’s most valuable private companies.
Second is ByteDance, with an allocation of $2 million, a price of $219.38 per share, and a valuation range of $550 billion.
As China’s most globally influential internet technology giant, ByteDance has built phenomenon platforms such as TikTok, Douyin, and Jinri Toutiao through its powerful algorithmic recommendation engine. Its traffic ecosystem has not only reshaped the global digital advertising market but also demonstrated strong monetization capabilities in areas such as short-video e-commerce and local life services.
As one of the world’s most highly valued private companies, ByteDance generates robust cash flow and profitability across economic cycles, making it one of the most scarce and liquid high-quality core assets in the private market.
Next is Lambda Labs, with an allocation of $1 million, a price of $60.46 per share, and a valuation range of $11.05 billion.
Lambda Labs is the most sought-after GPU cloud provider in the AI infrastructure space, widely regarded as the "AWS of the AI era." Amid explosive growth in computing demand, Lambda has attracted numerous top-tier AI startups with its developer-friendly ecosystem and flexible pricing strategy, and is currently in a golden growth phase marked by soaring valuation.
Finally, for Cerebras Systems, an allocation of $500,000 at a price of $100.35 per share, with a valuation range of $26.7 billion.
Cerebras Systems is renowned worldwide for its Wafer-Scale Engine (WSE), the largest AI processor by area and transistor count. Against the backdrop of highly concentrated AI computing supply chains, Cerebras has secured multiple supercomputing center contracts by leveraging its unique advantages in computational density and energy efficiency, emerging as a highly scarce hardware alternative.
III. How to Participate?
This Pre-IPO allocation is available to MSX platform users, with different allocation calculations for existing users (STONKS stakers/active users) and new users.
Each user only needs to log in to the MSX platform and use USDT to subscribe, with a minimum subscription amount of 10 USDT. Relevant fees include:
- 6% subscription fee (charged upon redemption);
- 1% annual management fee;
- 10% performance fee (on profit only);
Note that the maximum limit for each user will be dynamically allocated based on factors such as trading volume and staking amount; if a user meets multiple conditions, the highest limit rule will apply.
MSX will also gradually list additional high-quality pre-IPO unicorn assets in phases and explore technological solutions to enhance share liquidity within a compliant framework.
From breaking down barriers to trading U.S. stocks to now dismantling the walls surrounding private equity, MSX is expanding its asset footprint from secondary markets into primary markets, consistently committed to giving ordinary individuals the opportunity to share in the growth红利 of the most scarce, high-quality assets of this era.
In the future, MSX also aims to provide global users with access to high-quality global assets through compliant structures and technological innovation.