Svmuu reported that TradeXYZ stated on X regarding its SPCX pre-market contract product that TradeXYZ's pre-market contract is a price-based perpetual contract that tracks the market-implied price per share of Class A common stock (or common stock). Neither the total share count nor the company's market capitalization are input parameters for this market's rules, oracle pricing methodology, or final conversion mechanism.
Previously, the official documentation included some educational examples illustrating how users could derive a "reasonable stock price" if they had expectations about the company's market cap and total shares outstanding. These examples were intended solely to help users understand the context, but we received feedback suggesting that this content could easily lead to misunderstandings. Therefore, it has now been removed from the documentation.
In SPCX, as well as in all other XYZ markets, TradeXYZ will not use, publish, or rely on any calculation basis derived from total share count or market capitalization. Once SpaceX completes its IPO and sufficient external price data becomes available in the market, SPCX is expected to transition to a standard external oracle pricing mechanism. At that point, the contract price is expected to gradually converge toward SpaceX's public market trading price post-listing.