FTX currently lists HOOD, a pre-IPO contract that tracks Robinhood's market cap divided by 836 million.
At the end of its first trading day, Robinhood had 835,675,280 outstanding shares. At 10am UTC, July 30th, FTX will convert HOOD balances into the equivalent amount of Robinhood tokenized stock:
- De-listing HOOD/USD
- Disabling HOOD transfers and trading, and canceling HOOD spot margin lending offers
- Re-name HOOD to HOOD_PRE, and the HOOD/USD market to HOOD_PRE/USD
- Convert HOOD_PRE balances in the equivalent amount of Robinhood tokenized stock (with ticker HOOD). This will happen at a 836,000,00:835,675,280 ratio.
- Replace the equivalent spot margin lending offers for the new HOOD
- List new HOOD/USD markets
We expect this transition to take under one hour.
We reserve the right to adjust transition plans. It is your responsibility to understand the implications of the FTX Robinhood Pre-IPO logistics. FTX is not liable for losses.