Talking about launchpad platforms on the famous CEX exchange, it is impossible not to mention Binance and FTX. However, new names like Bybit also bring equally quality projects and profit potential to investors who are able to evaluate the quality of projects launched for sale. Below, BCrypto will provide readers with detailed information about Bybit Launchpad . At the same time, instructions will be given on how to trade IEO on this platform. Let’s follow along!
Overview Review of the Bybit Launchpad platform
Currently, Bybit has also proven the quality of the projects they distribute through the Bybit Launchpad platform. This provides profit opportunities for knowledgeable and intelligent investors.
What is the concept of Launchpad Bybit?
Bybit Launchpad is a special platform from Bybit. It was created to support Blockchain projects in attracting investment capital. Bybit is a Crypto derivatives exchange or Cryptocurrency Derivatives Exchange. Currently ranked 5th in terms of trading volume in the crypto market.
With its reputation and influence, Launchpad helps projects gain access to many different cryptocurrency ecosystems. To be listed on Launchpad, projects must go through a screening process. At the same time, it must comply with strict standards, ensuring quality and development potential.
Furthermore, Bybit provides a vast ecosystem to support Blockchain projects. Previous projects listed on Launchpad Bybit all showed impressive profit results after a short time. For example, some recent projects on Launchpad have had very high-profit performance after 1 week. Examples include Kasta – KASTA (2089%), Realy – REAL (1851%), and CropBytes – CBX (1228%).
Outstanding features of Bybit Launchpad
Bybit Launchpad, under the Bybit brand, is a “launch pad” platform for carefully selected and vetted projects. Therefore, investors can completely trust the reputation of IEO projects opened for sale on major exchanges. These include Bybit, FTX, Binance, and many others.
There is great demand: One thing that is very noticeable is that IEO projects on major CEX exchanges always attract a large number of participants. The reason is that the IEO opening price is often lower than the listed price and is considered a “preferential price”. Combined with brand reputation and accompanying guarantees. This is always a place with great demand from retail investors.
See more: Bybit futures trading – Increase profits, prevent risks
The operational process of Launchpad on Bybit exchange
The process for each Launchpad project is divided into four phases. Includes: Snapshot, Registration, Distribution, and Launch.
- Snapshot Phase: During this phase, hourly snapshots will be taken of your Spot Account, Bybit Earning Account, and Derivatives Account to determine the average daily BITs.
- Sign-Up Phase: To pledge BIT to a new project during this phase, simply visit Bybit Launchpad. Then click “Commit now”. The maximum amount of BITs that can be committed during the Snapshot period depends on the combined average daily BIT balance in your Spot Account, Bybit Earning Account, and Derivatives Account.
- Distribution Phase: During this phase, your committed BIT amount will be adjusted based on the results of your token allocation. BIT and new tokens will be credited back to your Spot Account.
- Launch Phase: Spot pairs will be activated if liquidity conditions are met. A 0.1% taker fee will be charged on Bybit’s spot market.
How to trade IEO on Launchpad Bybit
There are a total of 4 main stages: Snapshot, Subscription, Distribution and Launch.
What are the conditions for buying IEO on Launchpad Bybit?
To participate in buying IEO on Bybit’s Launchpad, you need to ensure a number of factors related to identity verification. This is to ensure fairness for ourselves, the users participating in Bybit Launchpad, and the reputation of Bybit exchange.
The specific conditions are as follows:
- Must hold a certain amount of BIT tokens (Bybit exchange tokens) in accounts. Such as Spot Account, ByFi Account & Derivatives Account before the opening date. The system will take a snapshot of your wallet’s BIT balance at 3:00 AM UTC the next day.
- It is necessary to pledge some BIT tokens in the Spot account to purchase tokens. This number of BITs will be locked and cannot be swapped. Transfer funds or make any other transactions until the purchased tokens are allocated.
- If you are staking BIT in a Launchpool or Derivatives Account or holding BIT in a ByFi account, you need to transfer BIT to your Spot account.
- The minimum BIT amount a trader can pledge is 50. Note that sub-accounts will not be allowed to participate in the event.
- After that, you just need to wait for the results of the calculation and token allocation process.
- Finally, the system will automatically deduct the amount of BIT corresponding to the number of tokens purchased. The remaining BIT and purchased tokens will automatically be transferred to your account.
How to participate in IEO trading on Bybit Launchpad
Step 1: Preparation (Snapshot)
First of all, it is necessary to hold any amount of BIT tokens during the preparation period (usually 5 days in advance on the Bybit platform). Each project will have quite different holding periods.
Step 2: Visit Launchpad on Bybit and select a project to register
Exactly, projects will have similar IEO purchasing steps. Because at this time there are no IEO projects on Bybit Launchpad , we can use the example of the Tap Fantasy (TAP) project – a project that has completed IEO.
Step 3: Register to participate in IEO
To be eligible to participate, it is necessary to hold BIT as instructed in Step 1. Based on the amount of BIT held, the system will allow registration to participate.
The registration time will be displayed in the right corner of the screen (in countdown form).
Based on the time and number of stored BITs, the system will calculate each person’s maximum commitment limit. That is also the amount used to pledge and buy tokens.
Step 4: Token distribution
At the end of the subscription period, this is the period the system calculates.
After the subscription period ends, Bybit will calculate the number of tokens the user will receive (over a period of approximately 1 hour) based on the Commitment Rate.
The exchange will distribute tokens based on the registered BIT number. Participants will then receive the corresponding amount of IEO tokens. The remaining registered BIT amount will be transferred to the Spot wallet.
Audiences can use the Bybit Launchpad platform
To participate in the Launchpad event, users must complete Level 1 identity verification or business verification.
Bybit Launchpad cannot be accessed from restricted countries. It should be noted that the verification process must be completed before the registration period begins.
You also need to have an average number of bits in your Bybit Earnings Account, Spot Account, and Derivatives Account equal to or above 50 during the snapshot period.
The Bybit Launchpad platform audience also includes users who have access to Launchpad through the Bybit API .
See more: Open Bybit exchange account to many new opportunities
Conclude
Above are basic instructions from BCrypto about Bybit Launchpad. Along with that is the introduction of the IEO buying process on this platform. Hopefully, this article will provide useful information for you to better understand Bybit. You can make the right choice when you want to enter trading. Wishing you success on your trading path!
Frequently asked questions
How to participate in an IEO event on Launchpad?
To participate in an IEO event on Bybit Launchpad, you need to ensure that you have completed the KYC process. Eligible to participate according to specific project requirements. You can then use accepted currencies to purchase tokens during the event.
How to verify your identity to join Bybit Launchpad?
To verify your identity to join Bybit Launchpad, you need to complete the identity verification process (KYC) according to the instructions on the Bybit platform. This process usually requires you to provide personal information and verification documents. In order to ensure authenticity and safety for transactions on the exchange.
Are there any fees to pay when participating in IEO purchases on Bybit Launchpad?
There may be certain fees applicable when participating in IEO purchases on Bybit Launchpad. Depending on the project and platform-specific regulations. Typically, these fees may include transaction fees and identity verification fees. There are other fees that may arise during the transaction process. Please understand the terms and conditions before attending a Launchpad event.
