Bybit has announced that Oookeenga (OKG) will be the next token on Bybit Launchpool
Bybit Launchpool allows users to earn tokens from up-and-coming projects simply through staking
Ookeenga is a GameFi project that combines elements from the RTS, CCG and tower defense game genres
The Bybit cryptocurrency exchange has announced that OKG, the governance token of GameFi project Ookeenga, will be the next token featured on the Binance Launchpool platform.
Ookeenga is a video game that offers both PvE and PvP game modes to players. In terms of gameplay, Ookeenga combines characteristics from the real-time strategy, collectible card game and tower defense genres. The game leverages non-fungible token (NFT) technology to represent playable items and characters, giving players the opportunity to own and trade their in-game assets freely.
https://youtu.be/B9CNqIplOlA
The Ookeenga ecosystem features two tokens: OKG and KAB. OKG, which has a limited supply, functions as a utility token and also grants its holders the right to participate in governance. KAB does not have a supply cap and functions as a payments token that can be spent on creating new characters, upgrading items and other in-game activities.
OKG, the token that will be featured on Bybit Launchpad, is issued on the BNB Chain blockchain using the BEP-20 standard. Ookeenga players will be able to earn OKG through staking, in-game activities and participation in the governance process. The Ookeenga project says that control of the community treasury, which will hold revenues generated by the Ookeenga platform, will eventually be transferred over to OKG stakers.
BIT holders can now get OKG tokens for free on Bybit Launchpool
Bybit Launchpool is a platform where users can earn tokens from up-and-coming blockchain projects without taking on any significant risks. Users can simply stake their tokens into a pool to earn new tokens, and are free to unstake at any time. After unstaking, the user receives all of their staked tokens back immediately.
At the time of writing, users can stake their BIT tokens to earn OKG on Bybit Launchpad. In total, 4 million OKG will be distributed to stakers in this pool. So far, more than 5.5 million BIT has been staked by over 1,000 users in total. According to Bybit, OKG holders will also be able to stake their tokens at a later point in time to earn additional OKG. A total of 500,000 OKG will be distributed through this pool.
Bybit has announced Walken (WLKN) as the latest Launchpad project
A total of 20 million WLKN tokens will be distributed in the IEO at an initial token sale price of 0.0165 USDT
Walken is a Solana-based NFT game using the innovative Move-to-Earn gameplay mechanism
Bybit users can participate in the Walken Launchpad with their BIT and USDT
The Bybit cryptocurrency exchange has announced Walken (WLKN) as the latest project on its Launchpad platform, a popular initial coin offering (IEO) service that lets crypto investors pursue early investment opportunities in promising new blockchain projects.
Walken is a Move-to-Earn NFT-powered game built on Solana (SOL). Walken is designed to leverage the power of unique digital collectibles and blockchain technology to incentivize users to lead a healthier lifestyle. Much in the same fashion as another popular Move-to-Earn platform STEPN (GMT), Walken makes working out fun via a gamified approach using in-game leaderboards and challenges. In addition, players can earn WLKN tokens by playing the game, which can be used to buy and sell unique accessories, staking, and governance purposes.
Each Walken player controls a CAThlete NFT character, which can be accessorized and have its stats upgraded using gems and WLKN tokens. Characters can be pitted against each other in competitive community events, including Urban Running, Sprint Running, and Marathon Race. Each competition requires special attributes, ensuring long-term gameplay variety and rewards for different approaches.
Bybit users can participate in the Walken Launchpad with their BitDAO (BIT) and Tether (USDT) holdings. Those who commit BIT will receive WLKN tokens based on the amount of BIT they have committed during the subscription period. Users committing USDT, on the other hand, will be enrolled in a lottery draw that will grant winners a chance to win a 750 WLKN allocation. Each lottery ticket costs 100 USDT.
In total, 20 million WLKN tokens will be distributed in the Launchpad at an initial token sale price of $0.0165. 70% of the entire token allocation is reserved for BIT participants and the remaining 30% for USDT users. The WLKN token will be listed on Bybit’s Spot trading platform on June 21, at 12:00 UTC, if liquidity conditions are met.
Historically, Bybit Launchpad projects have performed very well following their IEO debut. Here’s an overview of the most successful projects that went live via Bybit Launchpad and their current yields compared to their initial token sale price.
Walken (WLKN) is the latest cryptocurrency project featured on Bybit Launchpad, a platform that allows verified Bybit users to participate in the initial exchange offering (IEO) of promising blockchain projects. Out of the total WLKN supply of 2 billion tokens, 20 million WLKN tokens will be distributed in the Launchpad program, at an initial token sale price of 0.0165 USDT. Bybit will distribute 14 million WLKN to users subscribing with BitDAO (BIT) and 6 million WLKN to users participating in the lottery draw with their Tether (USDT).
Walken is a GameFi project built on the Solana (SOL) blockchain that features NFT-powered in-game characters called CATheletes and unique Move-to-Earn monetization mechanics. The app’s native token WLKN can be used to upgrade, buy, and sell NFT characters, and to participate in the platform’s governance.
Walken is the third project to be featured on the revamped version of Bybit’s Launchpad platform. Whereas previously, verified Bybit users were able to participate in IEOs only with their BIT holdings, they can now participate using their USDT as well. However, using USDT doesn’t grant direct access to WLKN tokens. Instead, USDT participants will be randomly selected in a lottery draw, which will award 8,000 separate allocations, each worth 750 WLKN.
Here’s an overview of important dates pertaining to the Walken IEO:
Start
End
Snapshot Period
June 16 (00:00 UTC)
June 20 (23:59 UTC)
Subscription Period
June 21 (03:30 UTC)
June 21 (10:59 UTC)
Distribution Period
June 21 (11:00 UTC)
June 21 (11:59 UTC)
Launch Period
June 21 (12:00 UTC)
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How to invest in the Walken (WLKN) IEO on Bybit Launchpad?
In this guide, we will show you how to participate in the Walken Launchpad program. Keep in mind that only users who have completed the necessary KYC steps and hold BIT or USDT in their accounts are eligible to participate.
1. Create an account on Bybit and verify your account
In order to participate in the WLKN IEO, you will first need to create an account on Bybit. You can skip this step if you are already a registered Bybit user.
Once the account registration process is successfully completed, you can proceed to the account verification procedure. Bybit offers two verification tiers, which primarily differ in the amount of daily Bitcoin withdrawals. It is worth noting that both KYC levels unlock access to Launchpad functionality.
Once you’ve supplied the required personal information and completed the KYC process, you can proceed to the Launchpad section, which can be found by navigating to the bottom of the “More” drop-down menu on the Bybit homepage.
2. Select Walken from the list of Launchpad projects
Locate Walken from the list of ongoing and finished Launchpad projects. The most recent and typically the only active project is listed at the top of the list.
3. Walken IEO requirements and token distribution
As mentioned before, Bybit users get a chance to take part in public sales by committing an amount of BIT or USDT that will be used to buy new tokens as soon as they are first available on the exchange. The amount of new tokens a user receives in the sale is directly proportional to the amount of BIT committed. You will need at least an average of 50 BIT or 100 USDT in your Spot, ByFi, or Derivatives account during the 5-day snapshot period, to be eligible for the public sale.
In order to give each user a fair chance at obtaining WLKN, Bybit has set a hard cap of 20,000 WLKN for users committing BIT. Moreover, each USDT lottery winner will receive a 750 WLKN allocation. Users that won’t be selected in the lottery draw will receive the full amount of USDT committed back once the program ends.
Do note that participation in the Walken public sale is restricted to residents of the following jurisdictions: the United States, mainland China, Singapore, Quebec (Canada), North Korea, Cuba, Iran, Crimea, Sevastopol, Sudan, and Syria.
4. Walken IEO Timeline
The Walken IEO will follow a strict Launchpad schedule; below, you will find a complete overview of the important dates you will have to keep in mind, as explained by Bybit:
June 16 (00:00 UTC) to June 20 (23:59 UTC) – Snapshot Period: The average daily amount of BIT in your Spot Account, ByFi Account, and Derivatives Account during the snapshot period must be equal to or greater than 50 in order to participate in the token sale. Likewise, the daily average to participate in the lottery draw must be equal to or greater than 100 USDT.
June 21 (03:30 UTC) to June 21 (10:59 UTC) – Subscription Period: You can commit a certain number of BIT or USDT in your Spot Account towards the new project. The number of BIT or USDT you’ve committed will be locked until the public sale ends.
June 21 (11:00 UTC) to June 21 (11:59 UTC)– Distribution Period: Based on your final APEX allocation result, the corresponding BIT or USDT equivalent will be deducted from your committed amount, while your WLKN allocation and the remaining BIT will be credited back to your Spot Account. The remaining amount of USDT will be credited back to your Spot Account. Non-winning lottery participants will get the full amount of USDT back.
May 5 (12:00 UTC) – Launch Period: The new Spot pair, WLKN/USDT, will open for trading as long as liquidity conditions are met.
5. Walken step-by-step Launchpad guide
Now that you are familiar with the project and the intricacies of Bybit’s Launchpad program, follow our step-by-step instructions to learn how to commit your BIT or USDT holdings. Do note that some of the following images are from a previous Launchpad event.
Step 1 – Select to subscribe with your BIT holdings or commit USDT to gain a chance of being one of the lottery draw winners. The process for committing BIT and USDT is very similar.
Select the “Subscription” option to participate in the Launchpad with BIT and the “Lottery” to participate with USDT.
Step 2 – Proceed by entering the amount of BIT you wish to commit to the sale and click on the “Commit Now” button. Committing USDT doesn’t involve entering your precise token amount, since every lottery ticket costs 100 USDT. Keep in mind that you can’t participate in the Launchpad with BIT after you’ve decided to enroll in the lottery draw.
After committing USDT, you will be given a lottery number and see how many participants are currently in the draw.
Step 3 – When using BIT, you can choose to commit additional funds after the initial investment has been made. You can increase your investment up to your daily average BIT balance, which was calculated during the Snapshot Period.
When the Launchpad period ends you will be notified about your lottery draw status. The first image below shows what you can expect to see in the event of a lottery win, while the second image shows what to expect if you were unfortunate in the draw.
Winning lottery message.Lossing lottery message.
6. Performance of past Bybit Launchpad projects and closing thoughts
Projects listed on the Bybit Launchpad have historically performed very well and have enjoyed a notably positive market reception once they’ve started trading in the spot markets. With a revamped program, Bybit looks to expand the service to users who might not be inclined to hold BIT but have USDT readily available. Here’s an overview of the five most lucrative Bybit Launchpad projects and their USD-adjusted returns:
Cryptocurrency exchange Bybit has launched USDT-paired Bitcoin, Ethereum, and BitDAO Liquidity mining pools
Liquidity providers can earn up to 30% APY on their digital asset deposit or pursue higher rewards levels by collateralizing their crypto for up to 3x leverage
Bybit users can supply liquidity on either or both sides of the liquidity pair
Bybit launches BTC, ETH, and BIT liquidity pools, allowing users to generate up to 30% APY in USDT rewards
Bybit, one of the leading digital asset trading platforms and the second largest BTC Futures exchange, launched three new USDT-paired liquidity pools. As of May 19, Bybit users have the option to provide liquidity in Bitcoin, Ethereum, and BitDAO pools. Bybit allows users to earn up to 30% APY on their crypto deposit, with even higher reward tiers available when using up to 3x leverage.
Users participating in the new liquidity mining pools can supply liquidity on both sides of the liquidity pair. Rewards are distributed in the form of USDT, with investors having the option to withdraw their earnings or reinvest them to reach higher returns. In addition, the assets invested in the pools are automatically rebalanced to reduce the risk of impermanent loss.
Bybit is using an optimized automated market maker (AMM) model, which allows low slippage crypto swaps and provides users with the ability to earn a share of trading fees. Also, users can increase their pools exposure via leverage by collateralizing their existing crypto funds.
To protect investors from incurring excessive losses, Bybit employs a series of safeguards. Namely, the multi-layered liquidation protocols provide an added layer of investment safety, while advanced profit and losses managing strategies shield liquidity providers from potential market manipulation as well as unexpected and significant negative price movements.
Co-founder and CEO of Bybit Ben Zhou had this to say about the company’s Liquidity Mining offering:
“We are very excited about the opportunities Bybit’s Liquidity Mining will open up for all Bybit users. As traders ourselves, we understand the importance of having a diversified trading and investment strategy optimized for earning passive income on your assets.”
Zhou added that Bybit’s offering provides competitive “yield-earning opportunities” and is an important stepping stone towards a “future of DeFi and personal financial freedom.”
With the launch of new Liquidity Mining pools, Bybit has expanded its “Earn” suite of products and services, which allow cryptocurrency investors to pursue lucrative investment opportunities and generate passive income with their digital asset holdings with varying degrees of risk exposure.
FreshCut (FCD) is a gaming content Web3 project featured on Bybit Launchpool, a platform that allows Bybit users to earn new tokens by staking their crypto holdings into exclusive project-specific farming pools. A total of 2.625 million FreshCut Diamond tokens will be distributed via the FreshCut Launchpool program, allowing Bybit users to stake BIT and FCD to earn FCD rewards relative to the amount of funds they contributed to the pool.
Bybit’s Launchpool section can be accessed by navigating to the “Earn” drop-down menu on the homepage. Here you can find the Launchpool program and various passive income generating products under the “ByFi Center” umbrella.
2. Select the FreshCut Launchpool program and stake your BIT holdings
The most recent Launchpool program is located at the top of the page. Bybit’s token farming platform can pay staking rewards in BIT, USDT, and the project’s native tokens. In the case of FreshCut, the rewards are paid out in the gaming platform’s native FCD governance and utility token.
In order to begin staking, you must click on the “Stake Now” button. Keep in mind that staked funds can be redeemed at any time during the staking period. The same goes for adding new assets to the pool – you can top up your pool allocation freely.
Once you’ve entered the desired amount of funds you are willing to stake into the farming pool, read and agree to Bybit’s terms of service and click “Stake Now” once again to confirm your order.
3. FreshCut Launchpool rewards calculation and token distribution
The farming rewards and corresponding APY rates are updated daily at 12:00 AM (UTC) and are distributed among pool participants based on the amount of funds users have contributed to the pool in relation to other participants.
The token distribution mechanics are quite straightforward. In short, the share of rewards you are eligible to receive on a daily basis is calculated based on the total amount of crypto funds you have contributed to the farming pool. Bybit follows the following token distribution formula:
Let’s assume that you’ve staked token α to earn a new token β:
Your daily yield for β = (the amount of α you’ve staked to the α pool / total number of α staked to the α pool by the all participants) * daily β prize pool
The rewards are paid to your ByFi Account. From there, you can also unstake your funds before the farming period comes to an end.
The minimum number of tokens required to participate in the Launchpool is 100 BIT, while the maximum quantity is capped at 30,000 BIT per user.
4. FCD farming starts on May 10 and ends on May 19
The FCD farming program started on May 10, 2022, at 10:00 AM (UTC) and is slated to run for nine days, until May 19, 2022, at 1:00 PM (UTC). For more information about the program, click here.
Final thoughts
Earning new tokens by staking physical crypto assets in farming pools is one of the least volatile investments in the blockchain sector – in exchange for providing liquidity users are rewarded with risk-free yields. Thanks to Bybit’s Launchpool program, users can stake their digital holdings with no lock-up period or hidden fees to earn new tokens, which can be used for trading purposes or any other crypto use case that the earned tokens support.
What’s that — another Bybit Launchpad project going live? That’s right, Aurigami (PLY) is now live on Bybit Launchpad, and you can now get your hands on some PLY tokens!
PLY is the native token of Aurigami, the very first money market on the Ethereum scaling solution Aurora.
Bybit just revamped their Launchpad and you can now get your hands on some PLY tokens through one of two ways. Splendid!
1. Commit BIT to subscribe to PLY token allocation 2. Commit USDT to win an allocation of PLY tokens from the lottery
Choose wisely because you can only either commit BIT or USDT.
We will take a snapshot of your BIT or USDT balance from April 30, 2022, 12AM (midnight) UTC to May 4, 2022, 11:59PM UTC. You will need at least an average balance of at least 50 BIT or 100 USDT in your Bybit account during the snapshot period.
Subscription begins on May 5, 2022, 3.30AM UTC and ends at 10:59AM UTC.
Aurigami (PLY) is the 12th cryptocurrency project featured on Bybit Launchpad, a platform that allows verified Bybit users to participate in the Initial Exchange Offering (IEO) of promising blockchain projects. 200 million PLY tokens will be distributed in the latest Launchpad program, at an initial token sale price of 0.005 USDT. Bybit will distribute 160 million PLY to users subscribing with BitDAO (BIT) and 40 million PLY to users participating in the lottery draw with their Tether (USDT).
Aurigami is a lending and borrowing protocol open to the users of the Aurora ecosystem. As a decentralized money market featuring a comprehensive suite of investment products and services, Aurigami has attracted the attention of some of the leading venture investors in the space, including Dragonfly Capital and Polychain Capital.
The platform offers several notable features to investors. For starters, Aurigami users are rewarded for HODLing with PLY tokens as a part of an innovative The Papermill gamified system. Users can also make use of yield-bearing collaterals that enable self-repaying loans collateralized with yield generating digital assets such as stNEAR and LP tokens. Undercollaterlized lending allows users to increase their capital efficiency and gain access to a broader decentralized lending audience. The platform also features fixed lending rates, Flash Loans, and collateral swapping. Last but not least, the Aurigami team also runs a so-called innovation zone program that aggregates liquidity for promising start-up decentralized projects.
Aurigami is the second project to be featured on the revamped version of Bybit’s Launchpad platform. Whereas previously, verified Bybit users were able to participate in IEOs only with their BIT holdings, they can now participate using their USDT as well. However, using USDT doesn’t grant direct access to PLY tokens. Instead, USDT participants will be randomly selected in a lottery draw, which will award 10,000 separate allocations, each worth 4,000 PLY.
Here’s an overview of important dates pertaining to the Aurigami IEO:
Start
End
Snapshot Period
April 30 (00:00 UTC)
May 4 (23:59 UTC)
Subscription Period
May 5 (03:30 UTC)
May 5 (10:59 UTC)
Distribution Period
May 5 (11:00 UTC)
May 5 (11:59 UTC)
Launch Period
May 5 (12:00 UTC)
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How to invest in the Aurigami (PLY) IEO on Bybit Launchpad?
In this guide, we will show you how to participate in the Aurigami Launchpad program. Keep in mind that only users who have completed the necessary KYC steps and hold BIT or USDT in their accounts are eligible to participate.
1. Create an account on Bybit and verify your account
In order to participate in the PLY IEO, you will first need to create an account on Bybit. You can skip this step if you are already a registered Bybit user.
Once the account registration process is successfully completed, you can proceed to the account verification procedure. Bybit offers two verification tiers, which primarily differ in the amount of daily Bitcoin withdrawals. It is worth noting that both KYC levels unlock access to Launchpad functionality.
Once you’ve supplied the required personal information and completed the KYC process, you can proceed to the Launchpad section, which can be found by navigating to the bottom of the “More” drop-down menu on the Bybit homepage.
2. Select Aurigami from the list of Launchpad projects
Locate Aurigami from the list of ongoing and finished Launchpad projects. The most recent and typically the only active project is listed at the top of the list.
3. Aurigami IEO requirements and token distribution
As mentioned before, Bybit users get a chance to take part in public sales by committing an amount of BIT or USDT that will be used to buy new tokens as soon as they are first available on the exchange. The amount of new tokens a user receives in the sale is directly proportional to the amount of BIT committed. You will need at least an average of 50 BIT or 100 USDT in your Spot, ByFi, or Derivatives account during the 5-day snapshot period, to be eligible for the public sale.
In order to give each user a fair chance at obtaining PLY, Bybit has set a hard cap of 80,000 PLY for users committing BIT. Moreover, each USDT lottery winner will receive a 4,000 PLY allocation. Users that won’t be selected in the lottery draw will receive the full amount of USDT committed back once the program ends.
Do note that participation in the Aurigami public sale is restricted to residents of the following jurisdictions: the United States, mainland China, Singapore, Quebec (Canada), North Korea, Cuba, Iran, Crimea, Sevastopol, Sudan, and Syria.
4. Aurigami IEO Timeline
The Aurigami IEO will follow a strict Launchpad schedule; below, you will find a complete overview of the important dates you will have to keep in mind, as explained by Bybit:
April 30 (00:00 UTC) to May 4 (23:59 UTC) – Snapshot Period: The average daily amount of BIT in your Spot Account, ByFi Account, and Derivatives Account during the snapshot period must be equal to or greater than 50 in order to participate in the token sale. Likewise, the daily average to participate in the lottery draw must be equal to or greater than 100 USDT.
May 5 (03:30 UTC) to May 5 (10:59 UTC) – Subscription Period: You can commit a certain number of BIT or USDT in your Spot Account towards the new project. The number of BIT or USDT you’ve committed will be locked until the public sale ends.
May 5 (11:00 UTC) to May 5 (11:59 UTC)– Distribution Period: Based on your final APEX allocation result, the corresponding BIT or USDT equivalent will be deducted from your committed amount, while your PLY allocation and the remaining BIT will be credited back to your Spot Account. The remaining amount of USDT will be credited back to your Spot Account. Non-winning lottery participants will get the full amount of USDT back.
May 5 (12:00 UTC) – Launch Period: The new Spot pair, PLY/USDT, will open for trading as long as liquidity conditions are met.
5. Aurigami step-by-step Launchpad guide
Now that you are familiar with the project and the intricacies of Bybit’s Launchpad program, follow our step-by-step instructions to learn how to commit your BIT or USDT holdings. Do note that some of the following images are from a previous Launchpad.
Step 1 – Select to subscribe with your BIT holdings or commit USDT to gain a chance of being one of the lottery draw winners. The process for committing BIT and USDT is very similar.
Select the “Subscription” option to participate in the Launchpad with BIT and the “Lottery” to participate with USDT.
Step 2 – Proceed by entering the amount of BIT you wish to commit to the sale and click on the “Commit Now” button. Committing USDT doesn’t involve entering your precise token amount, since every lottery ticket costs 100 USDT. Keep in mind that you can’t participate in the Launchpad with BIT after you’ve decided to enroll in the lottery draw.
After committing USDT, you will be given a lottery number and see how many participants are currently in the draw.
Step 3 – When using BIT, you can choose to commit additional funds after the initial investment has been made. You can increase your investment up to your daily average BIT balance, which was calculated during the Snapshot Period.
When the Launchpad period ends you will be notified about your lottery draw status. The first image below shows what you can expect to see in the event of a lottery win, while the second image shows what to expect if you were unfortunate in the draw.
Winning lottery message.Lossing lottery message.
6. Performance of past Bybit Launchpad projects and closing thoughts
Projects listed on the Bybit Launchpad have historically performed very well and have enjoyed a markedly positive market reception once they’ve started trading. With a revamped program, Bybit looks to expand the service to users who might not be inclined to hold BIT but have USDT readily available. Here’s an overview of the five most lucrative Bybit Launchpad projects and their USD adjust returns:
ApeX Protocol (APEX) is a decentralized derivatives trading platform and the 11th project on Bybit Launchpad
Bybit has revamped its Launchpad program and now allows users to participate with their USDT in addition to BIT
10 million APEX tokens will be distributed in the IEO at an initial sale price of 0.05 USDT per token
ApeX Protocol goes live on Bybit Launchpad 2.0
Bybit has announced the eleventh Launchpad project, a decentralized derivatives trading platform ApeX Protocol (APEX). In total, there will be 10 million APEX tokens, at an initial price of 0.05 USDT, made available for Launchpad participants.
ApeX Protocol is a decentralized finance (DeFi) non-custodial trading service that facilitates the creation of perpetual swap markets for any token pair. ApeX users can trade leveraged crypto derivatives on a decentralized platform that uses Elastic Automated Market Maker (eAMM) to price assets using advanced mathematical formulas.
Moreover, the Apex Protocol team has designed an innovative APEX token-based incentive program to boost the growth of the platform and give users a chance to earn passive income via staking, liquidity providing, and referrals. The protocol will automatically disburse 30% of all trading fees collected on the platform among APEX stakers.
In addition to the new Initial Exchange Offering (IEO), Bybit has also announced changes to its Launchpad program. Whereas previously, Bybit users were able to participate in the program only with their BitDAO (BIT) holdings, the exchange has now expanded its offering to include the largest stablecoin Tether (USDT) as well. However, the final token allocation functions differently between the two assets.
Users that commit BIT will receive APEX tokens based directly on the token amount they commit in relation to other users, the same as before. However, users that commit USDT will enter a lottery draw that will see each randomly selected winner receive a 400 APEX allocation. Participants that don’t win the lottery ticket will receive their USDT back after the program ends.
Historically speaking, Bybit’s Launchpad program has been a hotbed of lucrative investment opportunities. Case in point, blockchain-powered mobile payment service Kasta (KASTA) debuted on Bybit earlier this year and is currently changing hands 5.4x times above its initial Launchpad price. Here are the yields of the last five projects that launched on Bybit’s Launchpad platform:
ApeX Protocol (APEX) is the 11th cryptocurrency project featured on Bybit Launchpad, a platform that allows verified Bybit users to participate in the Initial Exchange Offering (IEO) of promising blockchain projects. 10 million APEX tokens will be distributed in the latest Launchpad program, at an initial token sale price of 0.05 USDT. Bybit will distribute 8 million APEX to users subscribing with BitDAO (BIT) and 2 million APEX to users participating in the lottery draw with their Tether (USDT).
ApeX Protocol is a decentralized derivatives trading protocol that uses Elastic Automated Market Maker (eAMM) method to price digital assets using advanced mathematical algorithms. In addition to providing access to perpetual swaps and other derivatives, the platform allows users to earn passive income via liquidity providing, staking, and a referral program. APEX stakers can look forward to earning as much as 30% of all trading fees collected by the decentralized trading platform.
ApeX Protocol is the first project to be featured on the revamped version of Bybit’s Launchpad platform. Whereas previously, verified Bybit users were able to participate in IEOs only with their BIT holdings, they can now participate using their USDT as well. However, using USDT doesn’t grant direct access to APEX tokens. Instead, USDT participants will be randomly selected in a lottery draw, which will award 5000 separate APEX token allocations, each worth 400 APEX.
Here’s an overview of important dates pertaining to the ApeX Protocol IEO:
Start
End
Snapshot Period
April 22 (00:00 UTC)
April 26 (23:59 UTC)
Subscription Period
April 27 (03:30 UTC)
April 27 (10:59 UTC)
Distribution Period
April 27 (11:00 UTC)
April 27 (11:59 UTC)
Launch Period
April 27 (12:00 UTC)
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How to invest in the ApeX Protocol (APEX) IEO on Bybit Launchpad?
In this guide, we will show you how to participate in the Apex Protocol Launchpad program. Keep in mind that only users who have completed the necessary KYC steps and hold BIT or USDT in their accounts are eligible to participate.
1. Create an account on Bybit and verify your account
In order to participate in the APEX IEO, you will first need to create an account on Bybit. You can skip this step if you are already a registered Bybit user.
Once the account registration process is successfully completed, you can proceed to the account verification procedure. Bybit offers two verification tiers, which primarily differ in the amount of daily Bitcoin withdrawals. It is worth noting that both KYC levels unlock access to Launchpad functionality.
Once you’ve supplied the required personal information and completed the KYC process, you can proceed to the Launchpad section, which can be found by navigating to the bottom of the “More” drop-down menu on the Bybit homepage.
2. Select ApeX Protocol from the list of Launchpad projects
Locate Monster Galaxy from the list of ongoing and finished Launchpad projects. The most recent and typically the only active project is listed at the top of the list.
3. ApeX Protocol IEO requirements and token distribution
As mentioned before, Bybit users get a chance to take part in public sales by committing an amount of BIT or USDT that will be used to buy new tokens as soon as they are first available on the exchange. The amount of new tokens a user receives in the sale is directly proportional to the amount of BIT committed. You will need at least an average of 50 BIT or 100 USDT in your Spot, ByFi, or Derivatives account during the 4-day snapshot period, to be eligible for the public sale.
In order to give each user a fair chance at obtaining APEX, Bybit has set a hard cap of 7,000 APEX for users committing BIT. Moreover, each USDT lottery winner will receive a 400 APEX allocation. Users that won’t be selected in the lottery draw will receive the full amount of USDT committed back once the program ends.
Do note that participation in the ApeX Protocol public sale is restricted to residents of the following jurisdictions: the United States, mainland China, Singapore, Quebec (Canada), North Korea, Cuba, Iran, Crimea, Sevastopol, Sudan, and Syria.
4. ApeX Protocol IEO Timeline
The Monster Galaxy IEO will follow a strict Launchpad schedule; below you will find a complete overview of the important dates you will have to keep in mind, as explained by Bybit:
April 22 (00:00 UTC) to April 26 (23:59 UTC) – Snapshot Period: The daily average amount of BIT in your Spot Account, ByFi Account, and Derivatives Account during the snapshot period must be equal to or greater than 50 in order to participate in the token sale. Likewise, the daily average to participate in the lottery draw must be equal or greater than 100 USDT.
April 27 (03:30 UTC) to April 27 (10:59 UTC) – Subscription Period: You can commit a certain number of BIT or USDT in your Spot Account towards the new project. The number of BIT or USDT you’ve committed will be locked until the public sale ends.
April 27 (11:00 UTC) to April 27 (11:59 UTC)– Distribution Period: Based on your final APEX allocation result, the corresponding BIT or USDT equivalent will be deducted from your committed amount, while your APEX allocation and the remaining BIT will be credited back to your Spot Account. The remaining amount of USDT will be credited back to your Spot Account. Non-winning lottery participants will get the full amount of USDT back.
April 27 (12:00 UTC) – Launch Period: The new Spot pair, APEX/USDT, will open for trading as long as liquidity conditions are met.
5. ApeX Protocol step-by-step Launchpad guide
Now that you are familiar with the project and the intricacies of Bybit’s Launchpad program, follow our step-by-step instructions to learn how to commit your BIT or USDT holdings. Do note that some of the following images are from a previous Launchpad.
Step 1 – Select to subscribe with your BIT holdings or commit USDT to gain a chance of being one of the lottery draw winners. The process for committing BIT and USDT is very similar.
Step 2 – Proceed by entering the amount of BIT you wish to commit to the sale and click on the “Commit Now” button. Committing USDT doesn’t involve entering your precise token amount, since every lottery ticket costs 100 USDT. Keep in mind that you can’t participate in the Launchap with BIT after you’ve decided to enroll in the lottery draw.
Step 3 – When using BIT, you can choose to commit additional funds after the initial investment has been made. You can increase your investment up to your daily average BIT balance, which was calculated during the Snapshot Period.
6. Performance of past Bybit Launchpad projects and closing thoughts
Projects listed on the Bybit Launchpad have historically performed very well and have enjoyed a markedly positive market reception once they’ve started trading. With a revamped program, Bybit looks to expand the service to users who might not be inclined to hold BIT but have USDT readily available. Here’s an overview of five of the most recent Bybit Launchpad project and their USD adjust returns:
