Bybit Launchpad: Everything You Need to Know

In the ever-evolving world of cryptocurrencies, innovation is the name of the game. As the crypto ecosystem matures, new platforms and tools are emerging to address the burgeoning market’s needs. Among these innovations, crypto launchpads have carved a niche for themselves, acting as springboards for new projects to gain traction, secure funding and establish a community. These launchpads serve as a bridge between project developers and potential investors, ensuring a smoother and more transparent token launch process.

Crypto launchpads aren’t just platforms; they’re ecosystems that foster growth, trust and collaboration. By providing a structured and secure environment for token sales, they mitigate risks associated with scams and rug pulls, ensuring that both investors and developers can engage in a mutually beneficial relationship.

As we delve into the world of crypto launchpads, one platform you can count on is Bybit Launchpad. In this article, we'll explore the unique features and benefits of Bybit Launchpad, and see how it stands out in the crowded space of crypto launch platforms.

Key Takeaways:

• Bybit Launchpad is a token launch platform that gives investors early access to new and pre-listed tokens from promising projects directly on Bybit.

• There are two ways to participate in Bybit Launchpad 3.1: Commit MNT tokens to subscribe to token allocation, or USDT tokens to win an allocation of the project token.

What Is Bybit Launchpad 3.1?

Bybit Launchpad is a token launch platform that gives investors early access to new and pre-listed tokens from promising projects directly on Bybit. As a way to make things more exciting for users, Bybit recently introduced new features to Bybit Launchpad, branding this version as Launchpad 3.1.

Users can commit a certain amount of MNT or USDT tokens toward each new project and earn new tokens. This event is available for any user who has completed the Identity Verification Level 1 requirements, and has deposited either MNT or USDT in their Bybit Wallet. In addition, this feature is limited to users who aren’t from restricted countries (see below under “Requirements”).

Bybit Launchpad: 2.0 vs. 3.1

You’re probably wondering what the main differences are between the old Bybit Launchpad and the new Bybit Launchpad 3.1. Take a look at the table below for a clearer picture.

How Does Bybit Launchpad Work? 

Each Launchpad project goes through four stages: Snapshot, Subscription, Distribution and Launch. 

You also have two different ways to participate in Launchpad by committing either MNT or USDT tokens. Read on to find out exactly how you can participate, and how the platform works. 

First Stage (1) — Snapshot Period

The Snapshot period usually lasts between three to five days. During this period, the daily average amount of MNT or USDT in your Funding Account, Spot Account and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) will be recorded automatically through hourly snapshots. 

Committing MNT

If you choose to commit MNT to earn tokens, note that the daily average amount of MNT in your Funding Account, Spot Account and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) during this period must be equal to or greater than 50 MNT. The snapshot will be updated at 3AM UTC every day. Due to the high volume of asset calculations, there might be a delay in updating your daily average MNT balance.

For the Funding Account, please note that MNT staked in Flexible Savings, Launchpool, Lending as well as any MNT used as collateral in Crypto Loans will automatically be counted in the snapshot of your Funding Account. MNT staked in other products on Bybit Earn (e.g., Dual Asset) will not be included.

For the Derivatives Account, your wallet balance — which may be affected by realized P&L — will be counted.

Committing USDT

If you’re choosing to commit USDT to earn tokens, you’ll need to fulfill one requirement — the daily average amount of USDT in your Funding Account, Spot Account and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) during this period must be equal to or greater than 100 USDT, and will be rounded down to the nearest integer.

Due to the high volume of asset calculations, there might be a delay in updating your daily average USDT balance.

Want a chance to earn more tickets beyond the default ticket issued upon your USDT commitment? There are two primary ways in which you can do so. 

Please note that you can only select one path for additional ticket acquisition beyond the initial ticket: either through VIP status or through maintaining/trading assets. 

OR

If you’re a Bybit VIP, here’s some good news for you! When you commit USDT, you’ll be able to automatically receive three additional lottery tickets. This brings your total ticket count to the maximum of four lottery tickets, which also means that you have four chances to win the USDT lottery! 

If you have yet to become a Bybit VIP, you can participate in our Bybit VIP Program simply by fulfilling one of two criteria — asset balance and monthly trading volume. Alternatively, if you’re already a VIP user on another cryptocurrency exchange, simply screenshot your current VIP status or your monthly trading volume from that exchange and email it to premium@bybit.com. 

For more information, you can check out our comprehensive guide on our VIP Program. Join today and you’ll not only get three additional lottery tickets, but lots of other perks as well! Bear in mind, VIP status typically takes T+1 to activate, so kickstart your application promptly! 

Also, please note that all assets staked in Bybit Flexible Savings, Launchpool and Lending will automatically be counted in the snapshot of your Funding Account. All assets staked in other products on Bybit Earn (e.g., Dual Asset Mining) will not be included. Two distinct asset snapshots are taken into consideration:

• An initial snapshot ensures a minimum of 100 USDT is held, meeting the entry threshold and securing the first ticket.

• Subsequent snapshots assess average asset holdings, determining eligibility for additional tickets.

The Formula

Your daily average MNT or USDT balance = the sum of all hourly snapshots / 24 hours

Example 1

Let’s assume that on Oct 31, 2023, Alice signs up with Bybit and makes a deposit of 100 MNT every hour to her Funding Account only. Her wallet balance snapshots will be recorded as follows:

12AM UTC: 100 MNT

1AM UTC: 200 MNT

2AM UTC: 300 MNT

3AM UTC: 400 MNT

…

11PM UTC: 2,400 MNT

In this case, her average daily wallet balance on Oct 31, 2023 would amount to 1,250 MNT, based on the following calculation:

(100 MNT + 200 MNT + 300 MNT + 400 MNT + … + 2,400 MNT) / 24

Example 2

Let’s assume that on Oct 31, 2023, Bob signs up on Bybit and makes a deposit of 200 USDT every hour to his Funding Account only. His wallet balance snapshots will be recorded as follows:

12AM UTC (midnight): 200 USDT 1AM UTC: 400 USDT 2AM UTC: 600 USDT 3AM UTC: 800 USDT ... 11PM UTC: 4,800 USDT

In this case, his average daily wallet balance on Oct 31, 2023 would amount to 2,708 USDT, based on the following calculation:

200 USDT + 400 USDT + 600 USDT + 800 USDT + … + 4,800 USDT) / 24 

Example 3

If you have a total of four USDT lottery tickets, and two of them are chosen for the USDT lottery draw, you’ll receive twice the total tokens allocated for each selected USDT lottery ticket. 

This means that if 30 tokens are allocated to each selected USDT lottery ticket, you’ll receive 60 tokens in total. 

Stage Two (2) — Subscription Period

Once the Subscription period starts, head to the Bybit Launchpad, select your preferred project, and commit either through the Subscription track or the Lottery track. 

Subscription Track

If you’ve chosen the Subscription track, click on Commit Now to commit a certain amount of MNT toward the new project during this period. You can commit multiple times during the Subscription period; however, the maximum amount of MNT you can commit depends upon the final daily average combined MNT balance in your Funding Account, Spot Account and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) over the Snapshot period. 

Each project also has a hard cap on the maximum number of tokens allocated to each subscriber.

Formula

Final token allocation amount = (amount of MNT you’ve committed during the Subscription period / total amount of MNT committed by all participants) × total amount of new tokens allocated for the project

Example

• Number of MNT committed by Alice: 1,250 MNT

• Number of MNT committed by all participants: 1,000,000 MNT

• Total amount of new hypothetical token (“β”) allocated for the project: 3,000,000 β

In this case, Alice’s final token allocation will be (1,250 MNT / 1,000,000 MNT) × 3,000,000 β = 3,750 β.

If you hold MNT under your Funding Account, Spot Account and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account), please manually transfer MNT to your Funding Account for subscription during the Subscription period.

Lottery Track

If you’ve chosen the Lottery track, click on Commit Now to commit 100 USDT to enter all your lottery tickets into the draw. If you hold the maximum number of four lottery tickets, you’ll have four equal chances to win.

Formula

The probability of winning for each USDT lottery ticket = total number of winning tickets/ total number of tickets issued × 100%

If you have multiple winning tickets, you’ll receive multiple token allocations.

Stage Three (3) — Distribution Period

During the Distribution period, based on your token allocation result, the corresponding MNT or USDT equivalent will be deducted from your committed amount. Your new tokens will go to your Spot Account (or Unified Trading Account with UTA upgrades), while the remaining committed tokens, if any, will be credited back to your Funding Account. Non-winning participants will get back the full amount of the committed token in their Funding Account.

Revisiting Alice’s case:

Let’s assume that 1 MNT is equivalent to 25 β.

Since 3,750 β is equivalent to 150 MNT, based on the hypothetical exchange rate (1 MNT = 25 β), 150 MNT will be deducted from the number of MNT committed by Alice. The remaining 1,100 MNT (1,250 MNT − 150 MNT) will also automatically be credited to her Funding Account during the Distribution period.

Alice can view her new tokens under her Spot Account (or Unified Trading Account with UTA upgrades) immediately after the Distribution period ends.

Final Stage (4) — Launch Period

The new Spot pair will go live if liquidity conditions are met.

You can then proceed to trade on our Spot market. 

Explore Bybit Launchpad’s Latest Tokens

Requirements for Participating in Bybit Launchpad 3.1

The requirements are as follows:

1. Only users who have completed the Identity Verification Level 1 requirement or business verification are eligible for the Launchpad event.

2. Users from restricted countries are not allowed to use Bybit Launchpad 3.1.

Please note that Identity Verification must be completed before the Subscription period starts. Please click here to complete the verification. 

Here are the steps to follow:

1. Sign up for (or log in to) your Bybit account 

2. Select Account & Security in the upper right-hand corner of the page

3. Click on Verify Now under Account Information → Identity Verification

4. Complete your Level 1 Basic Verification

And you’re set to go!

The Bottom Line

Bybit Launchpad 3.1 continues to bring promising blockchain projects to you so you can access pre-listing rounds and earn new tokens directly on Bybit. 

You can proceed to buy and sell these crypto assets on Bybit’s trading platform. Get more from your cryptos today!

#Bybit #TheCryptoArk