Bybit Introduces Xterio As New Launchpad Project, Allowing Users To Lock MNT And USDT To Earn XTER
In Brief
Bybit has introduced Xterio as its next launchpad project, allowing users to participate in token subscriptions and a lottery by locking MNT and USDT to earn XTER.
Cryptocurrency exchange Bybit has announced the listing of Xterio as its next launchpad project, allowing users to subscribe to token allocations, participate in a lottery, and earn XTER token rewards.
The launchpad will be open for users starting at 12:00 AM at midnight UTC on January 3rd, running until 11:59 PM UTC on January 7th. The subscription period will begin at 3:30 AM UTC and end at 8:59 AM UTC on January 8th. Following this, the distribution period will take place from 9:00 AM UTC to 9:59 AM UTC on the same day.
In order to participate in the token allocation, users are required to maintain a daily average balance of MNT equal to or greater than 50 MNT during the subscription period. The maximum allocation of new tokens will be determined based on this balance. For users interested in the lottery, the daily average wallet balance of USDT must be at least 100 USDT during the period. Users can earn more lottery tickets by increasing their trading volume.
During the subscription period, Bybit will record hourly snapshots of the daily average MNT and USDT balance across various accounts, including the Funding Account, Spot Account, Derivatives Account, Unified Trading Account, and Inverse Derivatives Account. USDT staked in Launchpool and Bybit Savings within the Funding Account will be automatically included in these snapshots. However, USDT staked in other products on Bybit Earn, such as Dual Asset or Liquidity Mining, will not be counted.
The balance in the Derivatives Account will also be considered, with adjustments made based on realized profit and loss (PnL). Daily average balance snapshots and Spot trading volume for each day will be updated at 3:00 AM UTC on the following day.
Users who wish to subscribe must click the “Commit Now” button and commit a certain amount of MNT during the subscription period. The minimum amount required for the subscription is 50 MNT, and users may subscribe multiple times. For those opting for the lottery, committing 100 USDT is required to participate. Each user can earn up to four lottery tickets, depending on their Spot trading volume during the snapshot period. Once committed, MNT or USDT will be locked and cannot be transferred, withdrawn, or traded until the final distribution of project tokens.
Based on the final token allocation results, the equivalent MNT amount will be deducted from the committed funds. The allocated new tokens will be credited to the user’s Spot Account or Unified Trading Account, while any remaining MNT will be refunded to the Funding Account. For lottery ticket holders, winning tickets will provide an allocation of the project token. The new tokens will be credited to the Spot Account, while any remaining committed funds will be refunded to the Funding Account. If a user does not win, the 100 USDT committed for the lottery will be credited back to the Funding Account.
What Is Xterio And XTER?
Xterio is an AI-powered gaming and blockchain platform offering advanced gaming experiences on ETH and BNB. Built within the Layer 2 OP superchain ecosystem, Xterio currently hosts five games, partners with over 70 collaborators, and serves an expanding community of 8 million users. The project is supported by over $80 million in funding from leading investors such as Binance Labs, Makers Fund, and DST Global. XTER is the upcoming token for the platform, with its token generation event (TGE) scheduled for January 8th.
For the launchpad, a total of 7.5 million XTER tokens were allocated. Of this, 3,750,000 XTER tokens are designated for the MNT pool, with a cap of 7,500 XTER tokens per subscriber. Additionally, 3,750,000 XTER tokens are allocated for the USD lottery, with each user receiving a 375 XTER allocation and a total of 10,000 winning tickets available. The price of one XTER token is set at 0.04 USDT.
The XTER token will be listed on Bybit at 10:00 AM UTC on January 8th, with deposits opening at 10:00 AM UTC on January 7th. Withdrawals will be available starting at 10:00 AM UTC on January 9th.
Disclaimer
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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.
