FAQ — Mantle (MNT) ByStarter

Can I get Mantle (MNT)  tokens for free?

Yes, you can earn up to 2,400 MNT tokens for free by participating in the MNT ByStarter. To do this, you just need to commit 100 USDT during each Subscription Period. After the results are announced,  your committed 100 USDT will be returned to you, essentially allowing you to earn MNT tokens for free.

Additionally, you have the opportunity to win an extra 1,000 MNT tokens by referring friends to join the MNT ByStarter.  To learn more about the event and how to participate, please visit here. 

 

More

Mantle: The Ethereum Layer-2 Solution for Next-Level Scalability

 

Who is eligible to participate in MNT ByStarter?

To participate in MNT 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 USDT in your Bybit Account to subscribe.
4. Hold 100 BIT in your Bybit account and maintain that balance until the BIT snapshot takes place on Jul 5, 2023, 12AM UTC to join the Whitelist Genesis Offering.

 

Your Identity Verification must be completed before subscribing. Do note that you can subscribe at any time during the Subscription Period. For more details, please refer to the MNT ByStarter landing page.

 

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 MNT ByStarter?

The MNT ByStarter consists of four (4) main periods:

• Warm-up Period
• Subscription Period
• Allocation Period
• Results Announcement 

   

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

 

How many token allocations will I get based on the different VIP levels in the Public Genesis Offering?

In the Public Genesis Offering, your token allocation varies based on your VIP level. Do note that all users have an equal chance of being selected as a winner. However, the token allocation amount differs according to each user's account tier in the Public Genesis Offering. As the VIP level increases, so does the potential token allocation amount a trader can win.

 

VIP 1 and 2: The token allocation amount is 200% of Non-VIP's allocation.

VIP 3 and 4: The token allocation amount is 210% of Non-VIP’s allocation.

VIP 5, Supreme VIP and Pro: The token allocation amount is 220% of Non-VIP’s allocation.

 

Please refer to the table below for more details:

   

Note: 

In the Public Genesis Offering, your allocation amount will be based on your VIP level at the time of subscription. As the VIP level update may take up to 24 hours, please ensure your VIP level has been updated to the latest level when subscribing. Otherwise, your allocation amount will be less than the amount corresponding to the latest VIP level.

 

For example, if a user is a Non-VIP at the time of subscription and their account is upgraded to VIP 1 only after participating in the subscription, their allocation may be affected if they are selected as a winner. If they receive a partial allocation, they would get 1,000 MNT instead of 2,000 MNT because they were a Non-VIP at the time of subscription.

 

Which coin type is supported when committing to the MNT ByStarter?

For the MNT ByStarter event, you can only commit USDT.

 

Will the token I've committed be locked?

Yes, the tokens you've committed to the MNT ByStarter will be locked and cannot be transferred, withdrawn, or traded until the end of the Allocation Period. There are three (3) different scenarios for the distribution results:

 

1. Failed to Receive Allocation

• Non-winning participants will get their total committed token amount (100 USDT) back.

 

2. Receive Full Allocation

• Upon winning, all committed tokens (100 USDT) will be returned to your Funding Account.
• The new project tokens (MNT) will be allocated to your Funding Account.
• In summary, you receive the new project tokens (MNT) for free.

 

3. Receive Partial Allocation

• In each Genesis Offering, there may be at most one (1) user who receives only a partial allocation.
• When you win a partial allocation of new project tokens, all committed tokens will be returned to your Funding Account as the subscription price is zero. Additionally, you'll receive a portion of the subscription amount in your Funding Account.

 

Example

Let's assume that User A is a non-VIP user who is selected to win 1,000 MNT. In some cases, they might receive a partial allocation (less than 1,000 MNT) if they happen to be the last participant allocated and the remaining prize pool is insufficient to cover the full 1,000 MNT.

Note: To participate in MNT ByStarter, your committed tokens (100 USDT) will be returned to your Funding Account before the Results Announcement.

 

Can Subaccounts participate in the MNT ByStarter?

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

 

Can Institutional users participate in the MNT ByStarter?

No, Institutional users are not eligible to participate in MNT 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.