The third phase of MSX Pre IPO is open for subscription. This time it's Neuralink+Anduril. But I think what's more worth discussing than the project itself is that Pre IPO has taken the threshold for retail investors to the next level. The subscription price for the Neuralink platform is 219 USDT, corresponding to a valuation of 42 billion USD; Anduril 130 USDT， Corresponding to a valuation of $115 billion; Two projects each have a credit limit of 3 million US dollars. More importantly, new users in this period do not need to hold MSX historical positions in the past 7 days, and can also obtain a new basic subscription file of up to 2000 USDT first. Of course, at the subscription deadline, the account still needs to hold ≥ 1000 MSX to participate in the final allocation, and the subscription limit ≠ the final allocation limit. But this change itself is quite important. In the past, when discussing Pre IPO, ordinary retail investors faced two problems: Firstly, unable to enter. The threshold for the primary market is high, and many popular projects often do not even have the qualifications to participate. Secondly, they cannot come out. Even if exposure is obtained through SPVs or private equity funds, there may still be no liquidity for several years. So recently when I read MSX Pre IPO, what I'm more concerned about is no longer 'what star projects have we won again'. In the previous periods, we have already completed the transition from IPO to spot trading and the USDT settlement through repurchase during the unlisted stage. Now in the third phase, the threshold for participation has been further lowered. Putting these two things together is what I find really interesting about MSX Pre IPO: Enable more retail investors to enter while attempting to create an exit path. I have always felt that the real challenge for Pre IPO is never whether there is a beautiful primary market target. But rather: Pre IPO for individual investors can also truly complete the exit loop. The most important thing about Pre IPO is never being able to buy it. But it came out. This subscription period is from 18:00 on August 31st to 00:00 on September 6th (UTC+8). Neuralink and Anduril can be subscribed separately or participate simultaneously. During the same period, there is also an invitation activity where new users participate in transactions or Pre IPO through invitation links, and both parties receive corresponding rewards; The 25000 USDT portion is a contract experience fee, not a cash reward. To participate in Pre IPO this time, you need to download the MSX App Invitation link: http://(msx. com)/? code=h5cc95 The final allocation, valuation, settlement, and exit rules will still be based on the actual display on the MSX APP page. @MSX_CN @Jing_MSX