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Guides
What is Bybit Launchpad and How to Take Part?
05/29/2023

What is Bybit Launchpad and How to Take Part?

05/29/2023
4,5

Discover the Bybit Launchpad, a game-changing feature of the Bybit platform. Learn how to commit BIT or USDT and earn new tokens before they're listed. Dive into the world of crypto and unlock exciting opportunities!

If you're interested in the world of cryptocurrency and want to get your hands on new tokens before they're listed, the Bybit Launchpad feature is something you'll want to know about. It's part of the Bybit platform, which you might already know if you have a Bybit Earn Account. Essentially, the Launchpad allows you to commit a certain amount of BIT or USDT and in return, you're given the chance to earn new tokens. This isn't just about making transactions; it's about becoming a part of groundbreaking blockchain projects. 

So, whether you're a seasoned trader or just getting started, this guide will help you understand everything you need to know about the Bybit Launchpad and how it can open up exciting new opportunities for you in the crypto world.

What Is Bybit Launchpad 3.0?

Bybit Launchpad 3.0 is an upgraded version of ByBit Launchpad 2.0 and previous versions designed to provide investors with early access to new and pre-listed tokens of promising projects. This version introduces new features that make the process even more engaging for users.

In order to participate in  the subscription period of a new project, users must navigate to the Bybit Launchpad and commit a specific amount of BIT or USDT to the project. The allocation of new tokens they receive is based on the proportion of their investment to the total amount invested by all participants.

This feature is available to all traders who have completed at least completed basic level of KYC (Know Your Customer Requirements) and have funds in BIT or USDT in their wallet.

Bybit Launchpad: 2.0 vs. 3.0

In order to enhance the user experience of platform and provide more benefits to BIT (native Exchange token) holders, ByBit has upgraded its Launchpad to 3.0. From version 2.0 to the upgraded 3.0, Launchpad has undergone through several fundamental changes aimed at improving experience of participants and expanding their opportunities in the crypto space. 

In the latest version, fundamental conditions to participate has also been refined and Optimized based on users demand. 

If you're using BIT (Exchange native token) to participate, you need to hold a minimum of 50 BIT daily on average similar to previous version 2.0. This hasn't changed in Launchpad 3.0.

However, for those using USDT, instead of holding 100 USDT daily, now investors have to hold minimum of 200 USDT and also maintain a trading volume of 50 USD during a snapshot period in order to become a part of Launchpad campaign. 

If you participated using USDT in Launchpad 2.0, you could only get one ticket for a chance to receive new tokens. But in Launchpad 3.0, you can get up to four more tickets or even five! Read full details of this here. If you have a high trading volume, you can get three of these tickets, and newbies, can get one extra ticket. This means more chances to receive new tokens.

These changes show how Bybit is working to improve Launchpad and offer more opportunities for people interested in new cryptocurrencies.

Source and Copyright © Bybit

Who Can Use Bybit Launchpad?

Anyone can use Bybit Launchpad, but for that user account meet certain conditions. The platform is open to all individuals who have completed at least Level 1 of the Know Your Customer (KYC) process. For those who don’t know what is a standard practice in the finance industry that verifies the identity of an individual, you can learn more about it. In the context of Bybit Launchpad, this means you need to provide some personal information to prove who you are.

Next, must deposit either BIT or USDT into your Bybit wallet as these are two supported cryptocurrencies to participate in Launchpad campaigns. 

However, keep in mind that Launchpad is not available to users from certain countries due to local regulations. So, it's important to check if your country is on Bybit restricted list before joining. 

How Does Bybit Launchpad Work?

The working mechanism of Launchpad is easy and can be breakdown in four simple steps which includes:

  • Snapshot
  • Subscription
  • Distribution
  • Launch

Now, lets discuss each one of these steps in detail

Source and Copyright © Bybit

First Stage: Snapshot

Joining the Launchpad campaign start with Snapshot of the user’s all wallets including Funding accounts, derivatives, and earn accounts on the platform. Snapshots typically span three to five days and are automatically recorded on an hourly basis. As explained above, two cryptocurrencies are supported by the platforms USDT and BIT.

Source and Copyright © Bybit

If you're opting to commit BIT for token earning, it's vital that your daily average BIT in the mentioned accounts meets or exceeds 50. When it comes to Earn Account on Bybit, your staked balance of BIT will also count as valid towards the snapshot and you will be granted access to join Launchpad activities. 

For those committing USDT to earn tokens, two conditions need to be met. Firstly, the daily average amount of USDT in your accounts during this period should be at least 200. Secondly, your daily Spot trading volume must reach a minimum of 50 USDT.

Second Stage: Subscription Track or Lottery Track

After snapshot period ends, you can head toward Bybit Launchpad and choose your potential project by subscribing it either through Lottery Track or Subscription Track. 

Subscription Track

When you've decided to follow the Subscription track, the process is straightforward yet important for successful participation. 

Here's what you need to do: select the Commit Now option, which allows you to pledge a specific quantity of BIT towards the innovative project during the subscription period.

Remember, you can make these commitments more than once during Subscription period. However, there's a limit to how much BIT you can pledge. This maximum amount is determined by the final daily average combined BIT balance across your platform wallets during the snapshot timespan.

Lottery Track

If you've picked the Lottery track, the next step is to commit 200 USDT, which gets your lottery tickets in the draw. Now, here's something important: if you get five lottery tickets by committing the required USDTs, you can have five chances to win. That's like having five tickets in a raffle draw! Remember, the maximum lottery tickets a user can obtain is 5.

Source and Copyright © Bybit

Third Stage: Distribution

In the Distribution stage, the staked BIT or USDT equivalent will be deducted based on the token allocation result. This means that the number of new tokens you've earned determines the amount of BIT or USDT that gets subtracted from your staked amount. Rest assured, any remaining BIT or USDT not used for the token allocation will be returned to user Spot Account.

In order to make it simple for you to understand consider this example: if Bob committed 1,000 BIT and was allocated 2,000 “X” tokens, with an exchange rate of 1 BIT equal to 2 “X”, 1,000 BIT would be deducted from his committed amount. If Bob initially committed 1,500 BIT, the unused 500 BIT would be returned to his Spot Account during this Distribution stage. After this stage, Bob can immediately check his Spot Account to see his new “X” tokens.

Final Stage: Launch

After distribution, the final stage begins. Once liquidity conditions are met, the new Spot pair goes live. This is the point when you can start trading on the Spot market, and the best part? It's completely fee-free. That's correct! Bybit is currently running a zero fees campaign on all Spot trading pairs. This is an excellent opportunity to trade as much as you like without incurring any extra cost. So, take a moment to explore the latest tokens on the Bybit Launchpad.

Source and Copyright © Bybit

How to Participate in the Bybit Launchpad 3.0 Campaign

Apart from giving early access to tokens, users can also earn on Bybit by participating in launchpad activities, some of which are explained below.

Quiz

Launchpad Quiz is a fun and educational activity that involves a set of eight questions related to the upcoming projects on the platform. By taking part in these quizzes, investors not only get to learn more about the latest projects, but also stand a chance to win a share of the Reward Pool.

Here's how it works: Once the quiz begins, you'll be asked eight questions, each related to the project at hand. You'll need to answer all of them correctly to qualify for a share in the Reward Pool. 

In our opinion this isn't just a way to earn rewards, but also an opportunity to understand the projects you might be investing in better. After all, the more you know about a project, the better informed your investment decisions will be. 

RT Campaign

RT Campaign is another unique activity that enable users to earn BIT and other listed tokens on the platform for free as a part of Campaign.

In this activity, users are often required to follow official twitter account of the platform and retweet the requested post while tagging 3 friends. 

Source and Copyright © Twitter

Watch and Earn

The Watch and Earn option is pretty much similar to the RT Campaign, and here, users have yet another exciting avenue to accumulate BIT tokens. This opportunity involves the Gleam campaign, a popular online platform that runs social media competitions.

To participate, the first step is to follow the official Bybit Twitter account. This ensures you stay updated with all the latest happenings and announcements, including the details of the Gleam campaign.

Watch and Earn activity involves a question about the benefits a new Bybit user can receive by participating in Bybit Launchpad 3.0

This is where your knowledge and understanding of the Launchpad come into play. By answering the question correctly, you enter a pool of participants from which 200 lucky winners will be selected. Each winner will receive a share of the 5,000 BIT prize pool according to official site details. 

Requirements for Participating in Bybit Launchpad 3.0

  1. Users are required to have a basic KYC Verified Account in order to participate in Bybit Laucnhpad 3.0 Campaign
  2. Customers from restricted countries such as some parts of USA won’t be able to participate due to local law and regulations.
  3. Each participant must have minimum required amount of USDT or BIT tokens during a snapshot period to successfully earn a chance to join. 

FAQs

Is Bybit a good crypto exchange?

Yes, Bybit is a highly recommended crypto exchange with a diverse set of features like perpetual futures trading, margin trading, and a smart trading system. It offers low fees, has a mobile trading app, and provides excellent customer service.

How do I get into the Bybit launchpad?

Participation in the Bybit Launchpad involves several steps. Initially, you choose between BIT subscription or USDT lottery distribution mode. If you're opting for the lottery, you need to invest 100 USDT to get a ticket. If you choose BIT subscription, your average daily balance of BIT must reach or exceed 50 BIT. Then, during the subscription period, click “Invest Now” to invest BIT or USDT. The invested amount gets locked and can't be moved until the final issuance of project tokens.

What are the benefits of Bybit launchpad?

Bybit Launchpad offers early access to new projects and the chance to purchase Launchpad tokens at a minimum price. 

What is a list of future Launchpads on Bybit?

The specific list of future launchpad projects on Bybit is not publicly disclosed in advance. Bybit's platform connects new blockchain projects with potential investors, and projects are vetted to ensure they meet the criteria and are suitable for the platform's audience. Some of the popular one’s recently launched includes GEME, KASTA, REAL and many more.

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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

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