Disclaimer: This article is a preliminary translation into XXXXX provided through machine translation. A more refined version will be available later.

 

There are two (2) subscription methods available. Traders only have the option of choosing one (1) of these methods. Note that traders cannot participate in both events simultaneously.

• Commit Mantle (MNT) to subscribe to token allocation
• Commit USDC by using lottery tickets to win an allocation of project tokens

 

Bybit (powered by SATOS) Launchpad is a token launch platform for groundbreaking blockchain projects. It gives users access to pre-listing rounds and allows them to earn new tokens on Bybit (powered by SATOS). The Terms and Conditions for the Bybit (powered by SATOS) Launchpad are regularly reviewed and updated.

 

Participating in the USDC lottery on Launchpad 3.1 only requires meeting the minimum average wallet balance.

Who is eligible for Bybit (powered by SATOS) Launchpad?

Only users who have completed Individual Identity Verification Lv. 1 or Business Verification are eligible for Launchpad events. Please note that users from restricted countries are not eligible to participate in the Bybit (powered by SATOS) Launchpad.  

 

Identity Verification must be completed before the Subscription Period starts. You can click here to complete the verification.

Which balances will be counted during the Snapshot Period?

The daily average USDC balance in your Funding Account and Unified Trading Account (UTA) will be recorded through hourly snapshots. 

 

For your Funding Account, USDC staked in Launchpool and Bybit (powered by SATOS) Flexible Savings will be automatically counted towards your wallet balance snapshots. However, USDC staked in other products on Bybit (powered by SATOS) Earn (e.g., Fixed Term Savings or Liquidity Mining) will not be included.

 

Over the Snapshot Period, your daily average wallet balance of USDC must be equal to or greater than $100, and the amount will be rounded down to the nearest integer.

Can I participate in Launchpad using my Subaccount?

No, Subaccount is not supported. Only the Main Account can participate in Bybit (powered by SATOS) Launchpad. However, MNT and USDC balances or Spot Trading volume from subaccounts will be included in the snapshot of your Main Account.

 

 

 

How to calculate the daily average USDC wallet balance?

The daily average USDC wallet balance in your Funding Account and Unified Trading Account (UTA) will be counted. The snapshot will be updated daily at 3AM UTC. Due to the high volume of asset calculation, there might be a delay in updating your daily average USDC wallet balance. 

Note: USDC staked in Launchpool and Bybit (powered by SATOS) Flexible Savings will count in the snapshot of your Funding Account. USDC staked in other products on the Bybit (powered by SATOS) Earn  (e.g., Fixed Term Savings or Liquidity Mining) will not be included.

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

00.00 UTC : 200 USDC
01.00 UTC: 400 USDC
02.00 UTC: 600 USDC
03.00 UTC: 800 USDC
...
23.00 UTC: 4,800 USDC 

 

In this case, his average daily wallet balance on Oct 31 would amount to 2,500 USDC based on the following calculations:
200 USDC + 400 USDC + 600 USDC + 800 USDC + … + 4,800 USDC) / 24

What is a lottery draw?

A lottery draw is the random selection of tickets to decide the winners in a lottery. Through our lottery draw, lucky participants will get an allocation of a new token.

For each Launchpad event, the maximum number of lottery tickets a user can obtain depends on the tasks during the Launchpad Snapshot Period. The more tickets the user receives stand the higher chance of winning an allocation of tokens.

How can I earn more lottery tickets?

For users participating in the USDC subscription, you can increase your chances of winning by earning more lottery tickets through various tasks during the Launchpad Snapshot Period.

 

Please note that you can only select one (1) path for additional ticket acquisition beyond the initial ticket: either through VIP status or by maintaining/trading assets. For example, if Bob is already a VIP user, he will automatically receive an additional three (3) lottery tickets and cannot obtain additional lottery tickets by accumulating Spot trading volume or daily average assets holdings.

 

Notes:

— Your VIP level will be updated daily at 07:00 UTC. For VIP applications sent to premium@Bybit (powered by SATOS).com, please allow a minimum of T+1 time for review and updates. More information on how to become a VIP and the benefits of being a VIP, please refer to the relevant articles.

—All tasks are as shown on the Launchpad page for that specific period, and both tasks and the number of lottery tickets earned may change with each Launchpad event.

— Participation in Launchpad USDC subscriptions requires participants to meet the following minimum requirements during the Snapshot Period:

• Daily average wallet balance of at least 100 USDC

The asset snapshot for holding assets will include available balances of all tokens in the Funding Account and Unified Trading Account (UTA). Please note that any assets in collateral will not be counted.

For example, Bob collateralized 100 USDC to borrow an equivalent of $75 worth of BTC. 

• In the daily snapshot for additional tickets, the snapshot will be taken of the current account's available balance of $75 worth of BTC. For non-USDC tokens, they will be converted to USDC value using the closing price for that day (UTC time 23:59:59).
  
  

Each ticket will be assigned a random number (not based on subscription sequence) generated based on the lottery protocol. Winning numbers will be published after each drawing. Each winning number will grant the holder an allocation of the project token. The new tokens that the winners will receive will go to their Unified Trading Account, while the remaining committed token, 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.

 

 

 

How to calculate the average accumulated Spot trading volume?

The accumulated Spot trading volume from Spot Trading, Grid Bot, DCA Bot and Spot Margin Trading will be recorded through daily snapshots. This includes all your buy and sell transactions. 

Do note that trading volume from API will not be counted.

For USDC denominated pairs, the trading volume is the sum of all orders values for each executed USDC order. For non-USDC denominated pairs, the trading volume will be converted into USDC at the closing price of the day (23:59:59 UTC).

Let’s assume that on Nov 3, 2023, which is the third day of the Snapshot Period.
First day of snapshot: Alan bought 100 USDC worth of BTC and sold 50 USDC worth of ETH.
Second day of snapshot: Alan bought 100 USDC worth of MNT and bought 100 USDC worth of BTC.

Total trading volume snapshot for the first day: 100 + 50 = 150 USDC
Total trading volume snapshot for the second day: 100 + 100 = 200 USDC

Accumulate Spot trading volume: (150 + 200) = 350 USDC

During the Snapshot Period, the accumulated Spot trading volume for the day from 0.00 UTC to 23:59:59 UTC will be updated daily at 03.00 UTC. The snapshot result of the accumulated Spot trading volume will be rounded down.

What's the Subscription Period and how is it calculated?

During the Subscription Period, you must head to the Bybit (powered by SATOS) Launchpad and click on Commit Now to subscribe to all of your lottery tickets by committing 100 USDC. The probability of winning for each lottery ticket is calculated using the formula:

• Probability of winning per lottery ticket = Total number of winning tickets / Total number of tickets issued × 100%. 

If you possess multiple winning tickets, you will receive multiple token allocations.

How does the USDC subscription for lottery works?

The winners will be selected based on the lottery number and the winning numbers from the system. The winning numbers consist of the last digit up to the last four (4) digits. If the winning numbers match the lottery ticket, then the owner of the lottery ticket will be the winner.

 

Winners of the lottery draw will receive their token allocation, and any remaining token amount will be credited to their Funding Account. Non-winning participants will get the full amount of the committed token back.

Example 1:
There are two (2) traders. Trader A holds a lottery ticket: 132 whereas Trader B holds a lottery ticket: 172. If the winning number from the Launchpad is two (2), then both Trader A and Trader B will be winners of the lucky draw, and they will be able to receive tokens based on the token allocation of the project. 

 

Example 2:
There are two (2) traders. Trader A holds a lottery ticket:132 whereas Trader B holds a lottery ticket: 172. If the winning number from the Launchpad is 132, then Trader A will be the winner of the lucky draw and he will be able to receive the token based on the token allocation of the project

 

Example 3:
There are two (2) traders. Trader A holds five (5) lottery tickets: 132, 133, 134, 135 and 136 whereas Trader B holds a lottery ticket: 172. If the winning numbers from the Launchpad are 132, 34 and 35, then Trader A will be the winner of the lucky draw and Trader A will be able to receive three (3) portions of the token based on the token allocation of the project.

For example, if the token allocation was 100 β, then trader A will be receiving 300 β in this case, as 3 out of 5 numbers of his lottery ticket matched the lucky draw numbers.

What's the maximum amount of USDC I can commit?

The maximum number of lottery tickets that a user can subscribe to depends on the total number of lottery tickets obtained by the user during the Snapshot Period. Users can obtain additional lottery tickets by committing only 100 USDC during the Subscription Period once they fulfill particular requirements.

What happens during the Distribution Period?

At the end of the event, the winners will each receive project tokens, while the remaining amount of the committed tokens (if any) will be credited to their Funding Account. Non-winning participants will get the full amount of the committed token back. 

 

Example
Let's assume β is the new token and 1β is equivalent to 1 USDC. 

As 80 β is equivalent to 80 USDC, based on the hypothetical exchange rate (1β = 1 USDC), 80 USDC will be deducted from the number of USDC committed by the participant, and the remaining 20 USDC (100 USDC − 80 USDC) will be automatically credited to their Funding Account during the Distribution Period. At the end of the event, winning ticket holders will each receive 80 new tokens and get the remaining 20 USDC back.  

The new tokens (if applicable) can be viewed under your Funding Account immediately after the Distribution Period ends.

How many new project tokens will traders receive from each lottery ticket?

The amount of the new token allocation depends on the total amount of prize pool and the number of lottery tickets drawn. For example, the total token allocated for USDC subscription is 10,000 β, and the total draw number is 1,000, then every portion of token allocation will be 10 β (10,000 β/1,000).

In the case where traders' lottery tickets matched the two (2) lucky draw numbers, Trader A will be able to receive two (2) portions of the token based on the token allocation of the project. In this case, the trader will receive 20 β (2 × 10 β).

Will the USDC I've committed be locked?

Yes. The amount of USDC you've committed to the project will be locked and cannot be accessed for transfers, withdrawals or trades until after the Distribution Period.

When can I start trading the new Spot pair?

You can trade the new Spot pair after it goes live on Bybit (powered by SATOS). Please stay tuned to our blog announcements, or follow us on Twitter, Telegram, and YouTube.

When will the exchange rate between USDC and the new token be available?

The exchange rate between USDC and the new token will be displayed directly on the Launchpad page upon the release of the new project. Please refer to the Bybit (powered by SATOS) Launchpad event page for the latest update.

If I place a limit sell order for USDC on the Spot trading platform but it hasn’t been filled yet, will my USDC balance snapshots be affected?

No. All orders that have yet to be filled will still be included in your USDC balance snapshots.

Can I uncommit the USDC I’ve committed during the Subscription Period?

No, you cannot cancel the USDC that you’ve committed during the Subscription Period.

Disclaimer:

Please note that each user can only register for one (1) account on Bybit (powered by SATOS). Bulk-account registrations to farm additional allocation are a violation of the Bybit (powered by SATOS) Terms of Service, and may lead to immediate termination of all associated accounts and eligibility. To comply with local jurisdictions, Bybit (powered by SATOS) reserves the absolute right to disqualify or take any appropriate actions against accounts associated with fraudulent activities, including immediate termination of any accounts and a liquidation of any open positions.