trade.xyz has increased the initial Pre-IPO perpetual contract limit for the first CBRS variety to $10 million.

BlockBeats News, May 4th, according to information on the trade.xyz official website, the position limit of its first Pre-IPO perpetual contract, Cerebras Systems, has been increased to $10 million. As of the time of writing, the actual position size of this contract is $4.26 million, with a 24-hour trading volume of $2.52 million.

According to trade.xyz documentation, if CBRS is listed before May 30th, the trading pair will transition to a standard perpetual contract; otherwise, it will be settled based on TWAP.

Cerebras Systems is an AI chip and supercomputing company planning to go public on Nasdaq in mid-May under the ticker symbol "CBRS." It is reported that Cerebras Systems' core AI chip technology is Wafer-Scale Engine (WSE), which treats the entire 300mm silicon wafer as a single processor instead of dividing it into smaller chips.