Topics
    Launchpad 3.1 FAQ — MNT Subscription Method
    bybit2024-06-21 09:27:33

    Launchpad supports two (2) subscription methods, and traders can only choose one (1). Note that traders cannot participate in both events simultaneously.

    1. Commit Mantle (MNT) to subscribe to token allocation

    2. Commit USDT to win an allocation of the project token

     

    Bybit Launchpad is a token launch platform for groundbreaking blockchain projects. It gives users access to pre-listing rounds and allows them to earn new tokens directly on Bybit. The Terms and Conditions for the Bybit Launchpad are regularly reviewed and updated.

     

     

     

    Who is eligible for Bybit Launchpad?

    Only users who have completed Individual Identity Verification Lv. 1 or business verification are eligible for Launchpad events. Users from restricted countries are not allowed to participate in the Bybit Launchpad.

     

    Please note that Identity Verification must be completed before the Subscription Period starts. You can click here to complete the verification.

     

    The daily average MNT balance is calculated as the sum of hourly snapshots of your MNT balance in your Funding Account, Spot Account, and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) in a day, divided by 24 hours.

     

    It must be equal to or greater than 50 MNT. The snapshot is updated at 3 AM UTC daily. Due to the high volume of asset calculation, however, there might be a delay in updating your daily average MNT balance.

     

    Example

    Let’s assume that on Oct 31, Bob signs up for a Bybit account and starts making a deposit of 100 MNT every hour to his Funding Account only. His wallet balance snapshots will be recorded as follows:

    00.000 UTC: 100 MNT

    01.00 UTC: 200 MNT

    02.00 UTC: 300 MNT

    04.00 UTC: 400 MNT

    ...

    23.00 UTC: 2,400 MNT

     

    In this case, his average daily wallet balance on Oct 31 would amount to 1,250 MNT based on the following calculations:

    100 MNT + 200 MNT + 300 MNT + 400 MNT +...+ 2,400 MNT) / 24

     

    Note: For the Funding Account, please note that MNT staked in Flexible Savings and Launchpool will automatically be counted in the snapshot of your Funding Account. MNT staked in other products on Bybit Earn (e.g., Fixed Term Savings, Dual Asset or Liquidity Mining) will not be included.

     

     

     

    What balances will be counted during the Snapshot Period?

    Both MNT and USDT balance in your Funding Account, Spot Account, and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) will be counted during the Snapshot Period.

    • For your Funding Account, MNT staked in Launchpool and Bybit Flexible Savings will be automatically counted towards your wallet balance snapshots. However, MNT staked in other products on Bybit Earn (e.g., Fixed Term Savings, Dual Asset or Liquidity Mining) will not be included.

    • For the Derivatives Account, the wallet balance will be counted. The wallet balance may be affected by the realized P&L.

     

     

     

    Can I participate in Launchpad using my Subaccount?

    No, Subaccount is not supported. Only the Main Account can participate in Bybit Launchpad. However, MNT and USDT balances or Spot Trading volume from subaccounts will be included in the snapshot of your Main Account.

     

     

     

    What's the Subscription Period and how is it calculated?

    During the Subscription Period, you must head to the Bybit Launchpad and click on the Commit Now button to commit a certain amount of MNT towards the new project.

     

    Your final token allocation = (the amount of MNT you've committed during the Subscription Period / total amount of MNT committed by all participants) * total amount of new token allocated for the project.

     

    Let's run a quick example:

    • Number of MNT committed by Bob: 1,000 MNT

    • Number of MNT committed by all participants: 1,000,000 MNT

    • Total amount of new token β (hypothetically) allocated for the project: 3,000,000 β

    In this case, Bob's final allocation will be 3,000 β based on the following calculations: (1,000 MNT / 1,000,000 MNT) * 3,000,000 β

     

     

     

    What's the maximum amount of MNT I can commit?

    The daily average MNT balance in your Funding Account, Spot Account, and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) over the Snapshot Period will determine the max. amount of MNT you can commit towards the new project.

     

    If you hold MNT under Spot Account and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account), you may transfer it by clicking the Transfer button to transfer your MNT to the Funding account for subscription during the Subscription Period.

     

     

     

    What will happen during the Distribution Period?

    Based on your final token allocation result, the corresponding MNT equivalent will be deducted from your committed amount. Your new tokens will go to Spot Account or Unified Trading Account (if your account has been upgraded), while the remaining committed token will be credited back to your Funding Account.

     

    In the above example, assuming 1 MNT is equivalent to 20 β.

    As 3,000 β is equivalent to 150 MNT based on the hypothetical exchange rate (1 MNT = 20 β), 150 MNT will be deducted from the number of MNT committed by Bob, and the remaining 850 MNT (1,000 MNT - 150 MNT) will also be automatically credited to his Funding Account during the Distribution Period.

     

    Bob can view his new tokens under his Spot Account or Unified Trading Account (if your account has been upgraded) immediately after the Distribution Period ends.

     

     

     

    What does the hard cap per user mean?

    It indicates the maximum amount of new tokens an individual user can receive. Any amount exceeding the preset limit will be allocated to participants who haven't reached their hard cap yet.

     

     

     

    Will the MNT I've committed be locked?

    Yes. The amount of MNT you've committed to the project will be locked and cannot be accessed for transfers, withdrawals or trading until after the Distribution Period.

     

     

     

    When can I start trading the new Spot pair?

    You can trade the new Spot pair after it goes live on Bybit. Please stay tuned to our blog announcements or follow us on Twitter, Telegram, and YouTube.

     

     

     

    When will the exchange rate between MNT and the new token be available?

    The exchange rate between MNT and the new token will be confirmed two (2) to four (4) hours before the Subscription Period starts. Please refer to the Bybit Launchpad event page for the latest update.

     

     

     

    If I place a limit sell order for MNT/USDT on the Spot trading platform, but it hasn’t been filled yet, will my MNT balance snapshots be affected?

    No, all MNT pending execution will still be included in your MNT balance snapshots.

     

     

     

    Can I commit MNT multiple times during the Subscription Period?

    Yes, you can commit MNT multiple times by clicking on the Commit Now button.

     

     

     

    Can I uncommit the MNT I’ve committed during the Subscription Period?

    No, you cannot cancel on MNT that you’ve committed during the Subscription Period.

     

     

     

    Is it possible to withdraw the committed amount of MNT made during the subscription period?

    No, once committed, MNT cannot be canceled during the subscription period.

     

    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 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 the termination of any accounts immediately and liquidating any open positions.

    Was it helpful?
    yesYesyesNo