Subscriptions for LBank's inaugural Kalshi-linked tokenized offering open October 29, 2026, with two options: cKLSH at 28 USDT with a six-month post-IPO lock-up, and xKLSH at 39 USDT intended for spot trading. The total quota is 500,000 USDT, with per-user minimums of 10 USDT and maximums of 5,000 USDT; the window runs through November 2, when distribution and xKLSH trading begin. Issuer Paimon says tokens are backed 1:1 by Kalshi shares via an SPV, though holders gain no direct ownership rights. Kalshi raised $1 billion in May 2026 at a $22 billion valuation.

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