Instrument Type: Pre-IPO Perpetual Contract (allowing up to 20x leverage).
Asset Exposure: It tracks the expected public market valuation of OpenAI Group PBC ahead of its highly anticipated official public offering (IPO).
Current Status: OpenAI remains a privately held corporation. This contract functions strictly as a tokenized pre-stock derivative for price discovery rather than actual company equity or public stock.
Contract Baseline: Settlements and valuations are structured around an estimated total OpenAI share count of 1 billion shares.
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