OKX Europe launched a campaign on 12 November around its Anthropic pre-IPO X-Perp: eligible users can claim a €50 voucher that opens a 3x leveraged position on the implied valuation of Anthropic, the AI company behind Claude, before its shares list. The offer runs until 4 December 2026, 23:59 (GMT+1), vouchers are limited and go first come, first served.
Highlights of the campaign:
- €50 voucher, shown in the app as 55 USDC, for one position on the ANTUSD pre-IPO X-Perp.
- Fixed 3x leverage in isolated margin mode, long or short.
- OKX covers the loss if the position ends in the red; a profit is yours to keep.
- The position can stay open for up to seven days, then it is closed at market.
- Open to users registered with OKX Europe Markets Ltd who live in the EEA, after identity verification and a short appropriateness test.
How to claim and use the voucher
- Open the OKX app, go to Rewards and open the "€50 voucher for Anthropic" campaign.
- Tap Opt in, then claim the pre-IPO X-Perp voucher. Complete the appropriateness assessment if you have not done it before.
- On the voucher page tap Use now, select ANTUSD in Futures and make sure the voucher toggle is on.
- Choose Buy (long) 3x if you expect the price to rise or Sell (short) 3x if you expect it to fall, then confirm.
- Close the position within seven days. If you do not, OKX closes it at market.
The full steps are in OKX's help article.
Why Anthropic, and why now
Anthropic is in the final stretch of its IPO. According to reports on its amended filing, the company is marketing shares at $70 to $78, seeks to raise up to $64.4 billion and targets a valuation of up to roughly $1.4 trillion, with trading on Nasdaq expected from 19 November. The company reported revenue of $17 billion for the quarter to 30 September. These figures come from press reports on draft filings and can change before pricing.
The pre-IPO X-Perp lets European traders take a position on that valuation before the listing. OKX says it intends to convert the pre-IPO contract into a regular equity-linked X-Perp once Anthropic completes its IPO.
What a pre-IPO X-Perp is
An X-Perp is the European version of a perpetual futures contract: a cash-settled derivative with a distant expiry and a funding-rate mechanism, offered under MiFID rules by OKX Europe Markets Ltd, which is authorised by the Malta Financial Services Authority. The pre-IPO variant tracks the implied valuation of a private company.
- You do not buy shares, receive an IPO allocation or get any claim on the company.
- Trading runs 24/7 with up to 10x leverage in the regular product; the voucher position is fixed at 3x.
- Before the IPO there is no public share price to anchor the contract, so the price is set by the market and can differ materially from private valuations or the eventual IPO price.
- An IPO-related share-count event can trigger a profit-neutral rebase, with a short trading pause.
OKX explains the product in detail in its pre-IPO X-Perps guide.
Risks you should weigh
Leveraged derivatives can lose value quickly and positions can be liquidated. An IPO can be delayed, cancelled or never happen, and pre-IPO markets have thin price discovery and sharp moves around news. The voucher limits what you can lose on that single position, but any further trading is at your own risk. This is a marketing communication from OKX Europe Markets Ltd; nothing here is investment advice.
Partner link: crypto.ro may earn a commission if you open an account through our link, at no cost to you. Leveraged products are high-risk and may not be suitable for all investors.
