Bybit Web3, the Web3 division of Bybit, one of the top three global crypto exchanges by trading volume, today announced an upcoming Initial DEX Offering (IDO) for Thetanuts (NUTS) on its Web3 platform.
"Bybit Web3 is thrilled to provide our community with early access to Thetanuts, a leading DeFi options protocol redefining the altcoin options landscape," said Emily Bao, Bybit Web3 Evangelist. "Thetanuts' impressive TVL demonstrates strong community support and highlights the project's potential to shape the future of DeFi options trading."
Thetanuts - Leading Decentralized Options Protocol
Launched in August 2021, Thetanuts Finance is a decentralized on-chain options protocol focused on altcoin options, allowing users to go long or short on on-chain options. Thetanuts has already established itself as a major player, becoming the #1 DeFi Options Protocol by TVL per @DefiLlama with exceeding $30 million in Total Value Locked (TVL).
NUTS serves as the governance token of Thetanuts Finance, playing a crucial role in achieving the protocol's long-term goals — including decentralization, governance, and incentives.
IDO Details
IDO Subscription Period: May 13, 2024, 10AM UTC to May 17, 2024, 10AM UTC
Snap Period: May 17, 2024, 10AM UTC to May 20, 2024, 10AM UTC
Reveal and Claim Period: May 20, 2024, 10:15AM UTC to May 21, 2024, 10AM UTC
Listing Date: May 20, 2024, 10AM UTC
Token Details
Token: NUTS
Total Allocated to Bybit IDO: 66,660,000
Total Supply: 10,000,000,000
Eligibility Requirements
Users must hold a Bybit Wallet with a minimum balance of 400 USDC (Ethereum Chain) throughout the Snapshot Period to participate in the IDO.
Three (3) snapshots will be taken daily during the Snapshot Period.
Maximum number of winners: 1,500
For detailed information on the IDO process and eligibility requirements, please visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido
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