Who is eligible to participate in TAIKO ByStarter?

To participate in TAIKO ByStarter, you must:

1. Create a Bybit account if you don't have one. Click here to learn how to create a Bybit account.

2. Complete Individual Identity Verification Lv. 1.

3. Hold at least 100 USDC or USDT in your Bybit Account to contribute.

4. Users can subscribe to the Retail Pool and the Whales Pool at the same time.

 

Users must maintain at least Identity Verification Lv. 1 throughout the ByStarter event to be eligible for tokens. If, for any reason, a user fails to maintain their verified status, they will be disqualified from the ByStarter event. For more details, please refer to the landing page.

What are the 2 Subscription Pools?

Retail Pool: Contribute between 100 - 440 USDC or USDT to win an allocation of TAIKO tokens on a lottery basis, with no lock-up period. Bybit VIP members can contribute at least twice as many TAIKO tokens as non-VIP members.

 

Whales Pool: Contribute more than 10,000 USDC or USDT to receive a guaranteed 100% allocation of TAIKO tokens.

 

 

Note: The VIP level update requires 24 hours to take effect. Please upgrade your VIP level at least 24 hours before subscribing.

How do I complete my Individual Identity Verification?

To complete your Individual Identity Verification, please click here. Follow the instructions provided to submit the required documents and information for verification.

What are the phases of TAIKO ByStarter?

The TAIKO ByStarter consists of:

• Subscription Period

• Allocation Period

• Results Announcement 

 

 

Note: Users can participate in both pools during the same event.

Can I contribute multiple times during the registration period?

No. Each user can only contribute once during the registration period. Please confirm the contributed amount carefully.

 

Notes: 

— Every user can only contribute once to the Retail Pool and the VIP level update requires 24 hours to take effect. Please upgrade your VIP level at least 24 hours before subscription. 

Example : Anne's account level is VIP 3, so she can contribute up to 420 USDC/USDT. If Anne contributes only 300 USDC initially, she cannot contribute the remaining 120 USDC later. 

— Every user can only contribute once to the Whales Pool Please ensure you contribute the desired amount of tokens during the subscription. 

Example : Bob holds 20,000 USDC but only contributed 15,000 USDC initially. He cannot contribute the remaining 5,000 USDC later.

Which coin type is supported when contributing to the TAIKO ByStarter?

For the TAIKO ByStarter event, you can only contribute USDC or USDT.

Will the token I've contributed be locked?

Yes. The token that you've contributed to the project will be locked and cannot be transferred, withdrawn, or traded until the end of the Distribution Period.

How many tokens will I get based on my Whale Pool Contribution?

You can join the Whales Pool by contributing a minimum of 10,000 USDC or USDT. Your TAIKO allocation increases with your contribution amount, ensuring 100% TAIKO allocation in the Whales Pool.

 

The allocation will be calculated as follows: 

Final allocation of TAIKO = (the amount of token you've contributed / total amount of token contributed by all participants) * total amount of TAIKO allocated to Whales Pool.

 

Based on the final TAIKO allocation result, the corresponding amount of contributed token will be deducted from your contributed amount, and the remaining amount of contributed token will be credited back to your Funding Account, while the TAIKO allocated to you will be credited to your Spot Account (or Unified Trading Account with UTA upgrades) according to the unlocking calendar.

 

Note: Please understand that the stablecoins you contribute to TAIKO ByStarter may be FULLY used to purchase TAIKO tokens. If the value of the Whales Pool fundraising amount is less than 2 million dollars, the user's contributed amount will be fully used to contribute TAIKO tokens, and the TAIKO allocation obtained = contributed amount/2.

Example: The Whales Pool has 1M TAIKO worth $2M, and only $1M was raised in total at the end of the subscription period. User A contributed 10,000 USDT. In this case, all the 10,000 USDT contributed by the user will be used to buy TAIKOs, i.e. he will end up buying 5,000 TAIKOs with 10,000 USDT.

How many tokens will I get based on my Retail Pool Contribution?

There are three (3) different scenarios for the Retail Pool distribution results:

1. Failed to receive a distribution

• Non-winning participants will get back the full amount of their contributed token.

 

2. Receive full distribution

• After winning, all contributed tokens will be converted into equivalent tokens of the new project based on the subscription price. The new project tokens will be distributed to your funding account.

• For example, User A contributed 100 USDT and won. If the value of 1 β token is 2 USDT, the system will convert the 100 USDT contributed by User A into 50 β tokens and distribute them to the user's funding account.

 

3. Receive partial distribution

• There will always be one user who will only receive a partial distribution.

• After winning a partial distribution of the new project tokens, the system will deduct the corresponding amount from the contributed tokens and convert it into equivalent tokens for the new project. The new project tokens and the remaining contributed token balance will be distributed to your funding account.

• For example: If 1 β = 1 USDT, and the total distribution for the project is 1000 β. During the distribution period, the system selects 10 winners. The total contribution of the first 9 winners was 900 USDT, while the last winner contributed 150 USDT. In this scenario, the first 9 winners will receive a full distribution (total of 900 β). Although the 10th winner contributed 150 USDT, since there are only 100 β remaining for distribution, the 10th winner will receive a partial distribution of 100 β, and the remaining 50 USDT will be refunded to their funding account.

Can Subaccounts participate in the TAIKO ByStarter?

No, Subaccounts are not eligible to participate in the TAIKO ByStarter.

Can Institutional users participate in the TAIKO ByStarter?

No, Institutional users are not eligible to participate in TAIKO ByStarter.

Disclaimer

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

 

For more information about the Risk Disclosure of ByStarter, kindly refer here.