Bybit Web3 Announces IDO For ZAP, Enabling Users To Secure Its Tokens Early
In Brief
Bybit launches ZAP as the latest project for an IDO on its Web3 platform and opens the subscription period.
Cryptocurrency exchange Bybit launched ZAP (ZAP) as the latest project for an Initial DEX Offering (IDO) on its Web3 platform. According to the announcement, the subscription period is currently open and will continue until 10 AM on October 9th, after which the token will be listed for trading.
ZAP serves as a platform that connects the capital with the community, utilizing social and gamified mechanisms. It leverages on-chain data to democratize early-stage investing, providing value to founders and investors, simultaneously encouraging long-term participation in the ecosystem.
The ZAP token enhances the ecosystem’s value in several ways. Holders of the ZAP token will have the opportunity to gain a stake in the ecosystem and enjoy extra advantages related to potential upside and loyalty.
The total number of ZAP tokens allocated for the Bybit IDO is 3.5 million, while the overall supply of ZAP is capped at 350 million tokens. According to the tokenomics of ZAP, the distribution of the total supply includes 25% allocated to the community treasury, 25% to the team and contributors, 20% for ZAP vault sales, 15% to investors, 9% for market making and liquidity services, 5% to advisors, and 1% for the IDO itself.
ZAP IDO To Reward 1,500 Successful Winners
In order to participate in the IDO, users must hold a Bybit Cloud Wallet. The campaign will feature a maximum of 1,500 winners.
Participants can increase their IDO scores by staking assets on Bybit Web3, adding specific tokens to their Bybit Cloud Wallet, trading through DEX Pro, and inviting friends to join. Participants in the last three IDOs who did not win are also set to receive IDO Bonus tickets.
Bybit Web3 offers a suite of products aimed at simplifying the access, swapping, collection, and growth of Web3 assets. Its IDO 2.0 introduces a more equitable approach with a streamlined allocation process. Participants can earn an IDO Score, which will determine their tier and the amount of tickets they can receive. Users can secure up to 78 lottery tickets, increasing their chances of winning allocations in an IDO, with the possibility of winning up to five allocations. Higher IDO tiers also enable participation in a first-come, first-served (FCFS) mode, even if a user does not win a lottery ticket.
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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.
