TL;DR
- We’re running the Pre-IPO Challenge, a trading competition on Kraken Pro with a $10,000 USDG prize pool, from October 6 to November 6, 2026.
- The OURAx Perp and MOONSHOTx Perp are perpetual futures that give you price exposure to OURA and MOONSHOT ahead of their anticipated IPOs, with up to 10x leverage.
- Enroll first in the Kraken app or on Kraken Pro web, then trade. Positions opened before you enroll do not count toward your score.
- Your combined trading volume across both contracts sets your rank, and you need at least $10,000 in volume to appear on the leaderboard.
OURA and MOONSHOT aren’t public yet, but you can still trade price exposure to both. Our new Pre-IPO Challenge is built for exactly that: enroll, trade the OURAx Perp and the MOONSHOTx Perp on Kraken Pro, and compete for a share of $10,000 USDG.
About the OURAx and MOONSHOTx Perps
The OURAx Perp (PF_OURAXUSD) and the MOONSHOTx Perp (PF_MOONSHOTXUSD) are perpetual futures contracts that give you price exposure to OURA and MOONSHOT ahead of their anticipated IPOs. You can trade them with up to 10x leverage on Kraken Pro.
These contracts are derivatives, so they give you price exposure only. They don’t confer ownership of any OURA or MOONSHOT shares, or an allocation in either IPO. Leverage can magnify losses as well as gains, and you could lose more than your initial investment.
How the challenge works
Your trading volume across both contracts during the challenge window ranks you against other participants. The higher your volume, the higher your rank, and the bigger your share of the prize pool. Prizes depend on your final rank, so no prize is guaranteed to any individual participant.
- Challenge window: 12:00 a.m. UTC on Tuesday, October 6, 2026, to 11:59 p.m. UTC on Friday, November 6, 2026
- Eligible contracts: OURAx Perp (PF_OURAXUSD) and MOONSHOTx Perp (PF_MOONSHOTXUSD), in any combination
- Minimum volume: $10,000 in combined volume across both contracts to appear on the leaderboard
Prize pool breakdown
The prize pool is $10,000 USDG, and your share depends on where you finish.
| Rank | Prize (USDG) |
| 1st | $1,500 |
| 2nd | $800 |
| 3rd | $600 |
| 4th-5th | $300 each |
| 6th-10th | $200 each |
| 11th-20th | $100 each |
| 21st-50th | $17.50 each |
| 51st and below | $3,975 total, shared |
How to enroll
- Enroll in the Kraken app or on Kraken Pro web before you trade. Log in to Kraken Futures or create an account if you haven’t already, then enroll in the Pre-IPO Challenge. Positions opened before you enroll do not count toward your score.
- Trade the eligible perps. Trade any combination of the OURAx Perp and MOONSHOTx Perp between 12:00 a.m. UTC on October 6 and 11:59 p.m. UTC on November 6, 2026.
- Build your volume. Reach at least $10,000 in combined volume across both contracts to appear on the leaderboard.
Read the official challenge rules before you enroll.
Eligibility
The Pre-IPO Challenge is open to eligible customers only.* The OURAx and MOONSHOTx Perps are not available in the US or to US persons, and other geographic restrictions apply.
Ready to compete? Enroll in the Kraken app or on Kraken Pro web, then put your volume to work on the OURAx and MOONSHOTx Perps.
*The Promotion is open to eligible customers residing in jurisdictions where Kraken Futures trading is available, excluding the UK, the EEA, the US, Canada, Australia, and New Zealand. Void where prohibited.
xStocks Perps are offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. Neither this product nor xStocks are or will be registered with any local securities regulators. Trading derivatives involves a high level of risk and may not be suitable for all investors. You may lose more than your initial investment. This is not investment advice. Not available in the US and other geographic restrictions apply. For the full terms and conditions, please refer to Kraken’s Terms of Service.
xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (PDSL), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not, nor will they be registered with any local securities regulators. PDSL (Kraken) does not provide investment advice and/or recommendations, and, no communication, through any Kraken App or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek professional independent advice if they are unsure as to the suitability / appropriateness of any investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment may go down as well as up, and past performance is not a reliable indicator of future results. Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at assets.backed.fi/legal-documentation to learn more.