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We hope you're enjoying Pre-Market Trading of Ethena (ENA) on Bybit! As we approach the conclusion of the Pre-Market Trading phase, please be informed about the upcoming schedule:

• ENA Deposit Opens: Apr 1, 2024, 8AM UTC

• Pre-Market Closure: Apr 2, 2024, 8AM UTC

• Spot Listing Time: Apr 2, 2024, 8AM UTC

• Settlement Time: Apr 2, 2024, 12PM UTC

• Token delivery will be automatic and exclusively processed through balances in the participants' Unified Trading Accounts (UTAs).

• Sellers must have enough ENA tokens in the UTAs they participated with (whether from a Main Account or Subaccount) before Apr 2, 2024, 12PM UTC for delivery.

• Once tokens are fully delivered, sellers will receive payment in their UTA. Sellers who fail to have enough ENA tokens in the UTA by the time of settlement  will forfeit all collateral put up for Pre-Market trading, which will be given to affected buyers.

• Partial delivery of tokens is not possible, and all collateral will still be forfeited in such situations.

• Delivery occurs only ONCE at the designated settlement time.

• The delivery time may extend beyond 30 minutes. Buyers are kindly requested to be patient. Delivered ENA tokens or the USDT collateral paid by the seller in default will be credited to the buyer's UTA.

• Bybit will impose a 10% fee on the seller's collateral if the seller fails to deliver at settlement time. The remaining 90% will be compensated to the buyer.

How to Obtain & Prepare ENA Tokens for Delivery

1. Deposit to Bybit from an External Source

• Deposit ENA tokens from external sources. Please ensure that the deposit address on Bybit is correct to avoid the risk of asset loss.

• Transfer the required ENA tokens to your UTA before the designated settlement time.

2. Purchase From Spot Market after Listing

• If you haven't acquired the necessary ENA tokens, you can purchase them on the Spot market to fulfil your seller obligations.

• After purchasing, keep the ENA tokens in your UTA and await the scheduled settlement time.

• ENA tokens purchased from the pre-market cannot be used for settlement.

• ENA tokens not stored in the UTA at time of settlement will not be used for settlement.

For detailed information on Pre-Market Trading on Bybit, please refer to the following articles:

If you have any questions regarding this matter, please contact our 

Bybit Pre-Market Update: ENA Trading Closure & Delivery Schedule

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