Bybit Launchpad – a launchpad for new projects, supported by a cryptocurrency exchange Bybit. Provides access to the preliminary listing of tokens and allows you to earn new assets. The first distribution starts on September 22, 2021 – this is the native BitDAO token (BIT).
BitDAO (later - Wanted (MNT)) is a decentralized autonomous organization that plans to individuate itself in providing liquidity, funding, and research resources. Criptomais experts studied the features of the new Bybit Launchpad platform and its debut project.
Website page: https://www.bybit.com/bit-launch-event.
Briefly about the main thing
- BitDAO (BIT) is a cryptocurrency underlying a decentralized autonomous organization (DAO) created to promote and develop blockchain technologies and DeFi projects.
- B has 2023 BitDAO announced about merging with the L2 project Mantle Network to create a single ecosystem under the Mantle brand. As part of this merger, the sole asset of the ecosystem has become Wanted (MNT). BIT holders received it through a “soft conversion” mechanism.
- The main purpose of BitDAO is to support and develop new blockchain projects by providing them with funding and other resources.
- BitDAO was created with the support of major players in the cryptocurrency industry, including Bybit.
- The BIT token, later MNT, is used to vote on various issues in the ecosystem.
- Both BIT and MNT are used to store wallets with support for ERC-20 tokens, e.g. Metamask, Trust wallet, Safepal.
Bybit Launchpad Terms of Use
To access the platform, the user must pass Level 1 KYC verification by providing: identification document, their photo or scans on both sides, full name and surname, date of birth, facial recognition. The service is not available to users in unserved regions, including the United States.
To use the platform, access the section “More details” -> “Start” that exchange.
Rules for participation in the award event:
- The average daily wallet balance must be equal to or greater than $100. If the balance is not a whole number, the amount will be rounded to the nearest whole number.
- The balances of all sub-accounts count towards your total balance. Sub-accounts themselves cannot participate in the draw.
- Bybit will disqualify participants who are involved in speculation or other dishonest activities (e.g. creating oversized accounts).
Of course, each participant is required to comply with Bybit's Terms of Service, which can be found on the exchange's website.
First Event – BitDAO (BIT)
The debut project on Bybit Launchpad was BIT, a token from the decentralized autonomous organization BitDAO. The event kicks off on September 22, 2021. Users will be able to receive 3500 BIT for free.
The giveaway includes several stages spanning the period from September 22 to September 26, 2021. The platform will take a snapshot of all account balances across all trading pairs every hour. The balance is calculated in USD. Once a day, the average daily balance is calculated based on all photos taken.
The better the average daily balance, the more BIT the user will receive as a result of the calculation. This way you can get the most out of it. 1000 CHUNK.
Or in other words, based on the average balance over the five days, the participant will receive a number of tickets equal to the amount of dollars in the account. 400 winners will be selected at random and will receive a prize. 2500 CHUNK all.
Event periods:
- Registration: from September 27th at 10am UTC to September 28th at 8:59am UTC.
- Rewards Distribution: September 28, 9:00 AM UTC to September 28, 9:59 AM UTC. Tokens will be credited to participants' spot wallets approximately thirty minutes after crediting.
- BIT Listing: September 28th at 10:00 UTC. The first available trading pair is BIT/USDT on the spot market.
In total, 5,000,000 BIT will be distributed on Bybit Launchpad during the distribution process (4,000,000 BIT – distribution, 1,000,000 BIT – distribution).
BIT token distribution result on Bybit Launchpad:
About the BitDAO project
| Designation | BitDAO |
|---|---|
| Clock | bet |
| Token launch year | 2021 |
| Token Type | ERC-20 |
| Blockchain | Ethereum |
| Reviewers | https://etherscan.io/token/0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5/ https://ethplorer.io/address/0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5/ |
| Maximum emission | 10.000.000.000 BITS |
| Price for 09/21/21 | 111,88 $ |
| Official website | https://www.bitdao.io/ |
| White paper | https://docs.bitdao.io/litepaper-1/option-2-governance-phase-1 |
| Documentation | https://docs.bitdao.io/additional-documents/faq/ |
| Source | https://github.com/BitDAOProtocol/ |
| Blog | https://medium.com/bitdao |
| Social media | https://twitter.com/BitDAO_Official https://discord.gg/jTBC4BKnj7/ https://t.me/BitDAO_Official |
| Exchanges | Bybit, MEXC Global, Gate.io, Uniswap, Sushiswap |
BitDAO is a decentralized autonomous organization focused on transparent finance and economics. Its main areas of work are liquidity provision, funding, and research capabilities. The protocol is governed by BIT token holders.
BitDAO plans to provide grants for the development of decentralized technologies, including:
- DeFi
- NFT
- Level 1 and 2 protocols
- Privacy Apps
- Custom control modules
All exchanges will be granted through a voting process among BIT holders. BitDAO is not a registered company, it is a community of token holders who agree to abide by the rules outlined in smart contracts on the blockchain. This structure is actively used by DeFi governance projects to avoid unilateral control and increase automation by bypassing voting intermediaries.
All BitDAO users are divided into four categories:
- Community members. People without a Token. They will be able to express themselves on the project's forums and social networks, making their proposals. Good ideas can even be rewarded with BIT tokens or delegated votes.
- Participants. Individuals or teams helping to develop protocols, applying for grants, working to organize token exchanges with other projects.
- Partners. Any DeFi or CeFi projects that are ready for fruitful collaboration.
- Token holders. Token holders have the right to propose ideas and vote on the direction of BitDAO's development, much like the use of treasury assets.
The priority focus at the moment is the development of DeFi products and treasury management. In the future, developers do not exclude the possibility of creating their own first or second-tier blockchain solutions if there is a need for the corresponding functionality.
Frequently asked questions
Conclusion
Bybit Launchpad is a new launchpad that gives any verified user of the exchange a chance to receive tokens of promising projects in their portfolio. As a result of popularization and listing, the token rate is likely to increase, which will provide an opportunity to receive significant income. It is worth noting that the conditions for participation in Bybit Launchpad are as simple as possible – the user does not need to do anything other than keeping funds on the exchange balance. The first project to launch the token on this platform is BitDAO, which is a decentralized organization where all the power belongs to the holders of BIT tokens. The asset is already showing good growth, despite the fact that it is traded on only a few exchanges, not counting the decentralized ones.