TechFlow News, June 8: Cryptocurrency exchange CoinUp announced the upcoming Initial Exchange Offering (IEO) of its new ecosystem token, CPX. This IEO innovatively adopts a “lossless token launch” and “equal opportunity” mechanism—users’ subscription funds will be fully and automatically refunded upon completion of the event; if the total subscription amount exceeds the target, CPX allocations will be distributed proportionally to all eligible participants.
Per the official schedule, the IEO subscription window opens from 12:00 PM to 2:00 PM Beijing Time on June 8 and closes at 2:00 PM Beijing Time on June 9. Token settlement and distribution will occur between 2:00 PM and 4:00 PM Beijing Time on June 9. Spot trading of CPX will officially go live at 8:00 PM Beijing Time on June 9.
According to the official announcement, CPX—the next-generation core token replacing the former platform token CP—will be widely utilized across multiple use cases, including VIP membership benefits, trading fee discounts, ecosystem governance, and value capture.
