Bybit Adds ai16z To ByVotes, Enabling Users To Earn 50,000 AI16Z By Selecting Projects For Spot Trading Listings
In Brief
Bybit launches ai16z on ByVotes, allowing users to cast votes for AI16Z and help determine which projects get listed on its spot trading platform, with successful voters sharing in a prize pool of 50,000 AI16Z.
Cryptocurrency exchange Bybit announced the launch of ai16z (AI16Z) AI agent platform on ByVotes, allowing users to cast votes for AI16Z and help determine which projects get listed on its spot trading platform. Users who successfully vote for projects that are listed can share in a prize pool of 50,000 AI16Z tokens.
In order to participate, users are encouraged to first deposit funds into their Bybit accounts. Bybit will take 24 hourly snapshots each day to calculate the average asset holdings of each participant. These daily snapshots will be used to determine the number of votes a user receives based on the eligible assets in their account, such as USDT, USDC, USDE, USDD, DAI, and CUSD. The more of these assets a user holds, the more votes they will receive.
The voting period has already begun and will run until 8 AM UTC on January 8th. During this time, users can cast votes for their preferred projects. Voting multiple times for a single project is allowed, and once AI16Z reaches the necessary vote threshold, it will be listed on the spot trading platform.
Votes can also be boosted through referrals. Users can invite friends to join Bybit using their referral code, and for every friend who signs up and votes, they will earn additional votes to further support their chosen project.
What Is AI16Z And AI16Z Token?
ai16z is the first venture capital firm driven by AI agents, utilizing the Eliza framework to enable agents to interact on platforms like X and Discord, including voice support on Discord. These agents can read and summarize links, PDFs, and conversations, as well as interact with the blockchain. The initiative is led by an AI agent modeled after venture capitalist Marc Andreessen, with the aim of leveraging AI and collective intelligence to guide investment decisions. However, it’s important to note that there is no affiliation with Andreessen Horowitz (a16z), and the project is a parody.
Recently, the platform announced plans to introduce a token launchpad in the first quarter of 2025, similar to platforms like pump.fun. This launchpad could become a central hub for deploying AI projects based on the Eliza framework, with the AI16Z token serving as the primary currency for agent-to-agent interactions. The launchpad may feature various value-capture mechanisms, including launch fees, staking of the AI16Z token for access, and strategic liquidity pool pairings. Additionally, according to a document shared by contributors, AI16Z may explore the possibility of launching a Layer 1 blockchain specifically designed for AI applications.
Meanwhile, its AI16Z token serves a dual purpose within the ecosystem. It provides holders with governance rights within the DAO, allowing them to vote on proposals and influence the project’s direction while also functioning as a utility token within the ai16z network.
Over the past week, AI16Z saw a 176% rise in value, pushing its market cap to over $2.2 billion, making it the third-largest AI-related token. This surge followed the announcement from cryptocurrency exchange Binance that it would offer perpetual futures contracts for AI16Z, alongside other AI agent projects.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
