Chanxin Memory CXMT Lists on Shanghai Stock Exchange July 27; Hyperliquid Contracts Face Key Pricing Mechanism Test

According to on-chain analyst Ai E and reported by Odaily, Chanxin Memory (CXMT) will list on the Shanghai Stock Exchange's Sci-Tech board on July 27. Hyperliquid CXMT contracts will undergo critical testing of their pricing mechanisms and funding rate adjustments following the IPO. The contract price is set to transition from a Pre-IPO internal oracle mechanism to an external oracle that tracks real-time A-share spot prices with exchange rate adjustments once sufficient stable price data becomes available after market open.

As of July 26 at 5:40 PM, Hyperliquid CXMT contracts showed open interest of approximately $63.9 million and a price of $6.18 (equivalent to approximately 41.9 yuan). Based on current contract pricing, Chanxin Memory's implied market capitalization stands at roughly 2.8 trillion yuan, slightly exceeding the Industrial and Commercial Bank of China's market cap of approximately 2.76 trillion yuan. Funding rate multipliers will also normalize from 0.005 back to 0.5 following the listing.