NuLink Launches On Bybit Web3 IDO Platform. Subscription Phase Extends Until May 13
In Brief
Bybit Web3 IDO introduced NuLink, a provider of privacy-preserving technology for dApps, on its platform, offering access to investors.
Platform for Initial DEX Offering (IDO) projects, Bybit Web3 IDO introduced NuLink (NLK), a provider of privacy-preserving technology for decentralized applications (dApps), on its platform, thereby offering access to investors.
An IDO refers to the process of launching an initial coin offering (ICO) that is conducted on a decentralized exchange (DEX) platform.
As per the official announcement, the IDO subscription phase is scheduled to run from 10:00 UTC on May 9th to 10:00 UTC on May 13th. Following this, it will transition into the snapshot phase, set to occur from 10:00 UTC on May 13th to 10:00 UTC on May 16th. Subsequently, on May 16th, the platform will conduct an IDO lottery, randomly selecting 2,000 subscribers as winners. The redemption period will commence from 10:15 UTC on May 16th and extend until 10:00 UTC on May 17th. Participants chosen in the token distribution lottery can verify their allocation status and redeem tokens ahead of the redemption deadline.
Every participant will have an equal opportunity to win in the token allocation lottery. Those holding winning tickets will be able to exchange their allocations, which are denominated in USDC, for IDO tokens using USDC from their Bybit Wallets. The total number of issued tokens is 4,000,000 NLK, with a total of 2000 winning tickets. Each winning ticket entitles the holder to redeem 100 USDC. Presently, there are 7,293 participants in total.
What Is NuLink?
NuLink operates as a decentralized wallet proxy and file encryption tool based on Web3 technology. It employs the proxy re-encryption (PRE) scheme to safeguard the security and privacy of data. Additionally, it employs secure computation techniques such as zero-knowledge proofs, secure multi-party computation, and fully homomorphic encryption. This technical framework positions NuLink as a crucial and essential solution for data sharing and computation services, with a particular focus on safeguarding data privacy.
Furthermore, NuLink Snaps serves as an advanced decentralized data manager tailored for Web3 dApps, offering seamless integration with the cryptocurrency wallet MetaMask.
Recently, NuLink raised $1.6 million in funding during its strategic round, led by DWF Labs alongside other investors. This milestone followed the project’s conclusion of substantial fundraising via a Liquidity Bootstrapping Pool (LBP) on Fjord, amassing around $5.3 million. Cumulatively, NuLink has garnered a total of $11.4 million in funding to date.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, 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 crypto, AI, 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.
