What is Bybit Web3 IDO 2.0?

Bybit Web3 IDO 2.0 features enhanced rules for increased chances of initial token allocation, allowing participants to obtain preferred tokens at attractive pre-sale prices. It uses smart contracts for fair and random ticket selection.

 

 

 

What are the ticket allocations and maximum winning limits for each score tier in Bybit Web3 IDO 2.0?

 

 

 

 

What is the difference between Bybit Web3 IDO 2.0 and Bybit Web3 IDO?

IDO 2.0 differs from the previous IDO system in several key ways:

1. IDO Score System: Participants earn scores that translate into lottery tickets, with higher score levels granting more tickets and higher chances of winning.

2. No Minimum Asset Snapshot: Unlike the previous IDO, IDO 2.0 does not require a minimum asset snapshot for participation. Instead, all score tasks automatically calculate scores based on account historical data.

3. First-Come, First-Served (FCFS) Period: A new FCFS period allows participants with scores hitting tier 3 or above to claim unredeemed tokens on a first-come, first-served basis.

4. Additional Opportunities: If participants do not win in the initial phase, they will receive additional lottery tickets in the next IDO project.

 

 

 

Is Identity Verification required for participating in or redeeming allocations in Bybit Web3 IDO 2.0?

No, Identity Verification is not required for participation or redemption. Successful allocations are directly airdropped to your Bybit Cloud Wallet.

 

 

 

How to participate in Bybit Web3 IDO 2.0?

To participate in IDO 2.0, open a Web3 Cloud Wallet and complete the registration during the registration stage. To view more details, please visit this page.

 

 

 

What are the rules of the IDO 2.0 score system?

Accumulating scores:

• Reach different score levels by accumulating scores throughout the event.

• Obtain varying numbers of tickets based on your final score level.

Maximum Winnings:

• Different score levels have different maximum winnings for users.

• For example, at level 3, you can receive up to two (2) reward distributions. If you successfully win twice, you can redeem two (2) IDO tokens.

Score Tasks:

• Users can earn scores by completing score tasks.

• These tasks are updated every 8 hours, providing multiple opportunities to accumulate scores.

Eligibility for Rush Sale:

• Only those with score level 3 or above who have not won a prize can participate in the first-come, first-served rush sale of the IDO project.

 

 

 

Is participation in Bybit Web3 IDOs limited to specific wallets?

Yes, participation in Bybit Web3 IDOs is currently limited to Bybit Cloud Wallet. Please switch wallets to proceed.

 

 

 

How to Increase the Probability of Winning in Bybit Web3 IDO 2.0?

• Holding Assets: Increase your score by holding more criteria assets in your participating wallet.

• Adding Specific Tokens to Your Bybit Cloud Wallet: Enhance your score by adding specific tokens to your Bybit Cloud Wallet.

• Invite New Participants to IDO: Enjoy a score boost from successful referrals.

• Receiving Bonus Tickets for Non-Wins: Receive additional tickets for up to the last three (3) unsuccessful IDOs you participated in.

• Trade on DEX Pro or Perform Swap:  Boost your score by trading on DEX Pro or swapping via Cloud Wallet on any supported chains.

 

Note: The calculation of additional tickets from past unsuccessful participation will be reset as soon as you win in an IDO.

 

 

 

How to get more lottery tickets?

Bybit Web3 IDO 2.0 uses a score system. The higher the scores accumulated during the event, the higher the score level, and the more lottery tickets you will receive.

 

1. Web3 Cloud Wallet Holds Assets:

• Average Wallet Asset: The system takes asset snapshots three (3) times a day and calculates scores based on the average asset amount in your Cloud Wallet.

  • Snapshot Range: The asset snapshot range for each IDO project will vary. For more details, please refer to the specific IDO project guidelines. The value of all assets captured in the snapshot will be converted to their USDT equivalent. 

 

 

 

2. DEX Pro Trading 

• Trade on DEX PRO or perform Swap : Earn up to 500 IDO score by trading on DEX Pro or swapping via your Cloud Wallet on any supported chains. 

• Score Calculation : Only trades made with your Cloud Wallet on eligible chains and token pairs will be counted. The deadline for calculating trading volume is eight (8) hours before the draw starts.

 

 

 

3. Friend Referral Program:

• Invite Friends: Invite friends to register a Bybit account during the IDO period. Meet the conditions for qualified invited friends and participate in the same IDO project. For more information, please visit this page.

• Score Calculation: Total IDO scores for inviting friends will be multiplied by the scores sharing ratio. The deadline for calculating inviters is eight (8) hours before the draw starts.

 

 

 

4. Additional lottery tickets from past non-winning projects

• Extra Tickets: Given based on the number of times a user has not won the lottery in historical IDO projects and the current IDO project's score level. The system will automatically calculate and add the bonus before the draw starts.

 

 

 

 

How does the Snapshot work?

During the Subscription Period, three (3) daily snapshots occur at 00:00, 08:00, and 16:00 UTC. These snapshots capture your eligible token holdings and record their value in USD based on the closing price at each snapshot. Afterward, the system will start calculating the score. This process may take approximately 5-8 hours. As a result, your latest score is updated only before the next snapshot begins.

 

Example

• First Snapshot (July 18, 00:00 UTC):

Alice is holding 100 USDT when the event started. The current asset holding ($100) is captured, and her score calculation begins, taking 5-8 hours to complete.

→ IDO Score at this point will show 0. The latest score will be updated before the next snapshot begins.

• Second Snapshot (July 18, 08:00 UTC):

→ Alice's IDO score from the previous snapshot is recorded as 10 based on an average value of $100 (Average value = 100 / 1). After the first snapshot, 

Alice deposited an additional 1000 USDT. Her current asset holding ($100 + $1000) is captured, and the score calculation begins. The latest score will be reflected before the next snapshot begins.

• Third Snapshot (July 18, 16:00 UTC):

→ Alice's score from the previous snapshot is recorded as 50 based on the average value of $600 (Average value = [(100 + 1100) / 2)

Although her current asset holdings exceed $1000, she is only entitled to 50 instead of 100 score because the average value is still below $1000. She will be entitled to a 100 score once the overall average value exceeds $1000. These steps will be repeated with each subsequent snapshot until the last snapshot occurs.

 

Notes:

— The IDO Score will be calculated based on Average Value.

— The example provided above is for illustration purposes and may not reflect the exact results.

— If an IDO event begins at 10:00 UTC, the first day's snapshot will occur at 16:00 UTC.

— The last snapshot will be recorded eight (8) hours before the Lottery Period starts. Make sure to improve your score before time runs out.

 

 

 

How to calculate the Average Value?

The formula for the Average Value is as follows:

Average value = Sum of the asset holdings during each snapshot/number of snapshots

 

Example

• First Snapshot (July 18, 00:00 UTC): Alice holds 200 USDT.

Average value = 200 / 1 = 200

IDO Score = 0 

The calculation will take around 5-8 hours and will be updated before the next snapshot begins.

• Second snapshot (19 July 00:00 UTC): Alice holds 1000 USDT.

Average value = (200 + 1000) / 2 = 600

IDO Score = 10 (based on the previous average value of $200 )

• Third snapshots (19 July 08:00 UTC): Alice holds 2000 USDT.

Average Value = (200 + 1000 + 2000) / 3 = 1066.667

IDO Score = 50 ( based on the previous average value of $600)

• Fourth snapshots (19 July 16:00 UTC): Alice holds 5000 USDT.

Average Value = (200 + 1000 + 2000 + 5000) / 4 =2050

IDO Score = 100 (based on the previous average value of $1066.667)

With an Average Value of 2050, Alice’s IDO score will be of 200 in the next snapshot.

 

Note :

— The IDO Score takes 5 to 8 hours to calculate after a snapshot. Therefore, when the latest snapshot occurs, it always reflects the score based on the previous snapshot results.

— As more snapshots occur, your average value has the potential to increase. However, if you're concerned that the remaining snapshots may not be sufficient to significantly boost your average value, you may consider making additional deposits to pull up your overall average value.

— The example provided above is for illustration purposes and based on the assumption that no withdrawals are made during the event period.

— Your eligible token holdings will be captured and record their value in USD based on the closing price at each snapshot.

 

 

 

How to use lottery tickets?

The lottery tickets obtained during the registration stage will be automatically entered into the system during the lottery stage. Winners are selected through smart contracts.

 

 

 

Can I win multiple times? If I don’t win, can the lottery tickets be used in other projects?

Yes, there are different winning caps based on the score level of the IDO project. If no prize is won, all lottery tickets will be cleared and each project will be calculated independently.

 

 

 

Where can I check my lottery ticket numbers?

Due to the high number of lottery tickets, the system does not display the lottery numbers. However, all participants have the same chance of winning.

 

 

 

What is the FCFS Round?

The FCFS (First-Come, First-Served) round allows participants in Score Tiers 3 to 5 who did not win in the initial lottery to have another chance at token allocation. This round begins with any leftover tickets after the main lottery draw. Participants can claim one (1) ticket each until supplies are exhausted. It's recommended to participate early to secure your allocation.

 

Note: Participants found engaging in unfair practices, such as mass account registrations for extra tickets or any unlawful, deceptive, or damaging activities, will be disqualified from participating in the FCFS round.

 

 

 

When will the score mission end?

The calculation of score tasks will end eight (8) hours before the lottery stage.

 

 

 

How to claim your prize after winning?

Winning participants need to return to the relevant IDO project landing page and pay the required fees to complete the token exchange.

 

 

 

After winning, can I not redeem the prize?

Yes, you can choose whether to redeem your prize. If not redeemed, the remaining token allocation will enter the FCFS stage for other participants to claim.

 

 

 

After winning, can I redeem only part of the reward?

No, winnings can only be redeemed in full.

 

 

 

Do all participants have the same chance of winning?

Yes, during the lottery stage, the system uses smart contracts to ensure that all participants have the same probability of winning. However, a higher score level increases the number of lottery tickets you get, thereby increasing your chances of winning.

 

 

 

Why does it say I am not eligible to participate?

This may be because you may have violated our reward terms and conditions. Please refer to the relevant IDO project landing page.

 

 

 

Why do some IDO 2.0 projects require binding a TON wallet?
This is because the project will be launched on the TON blockchain. Currently, Bybit Cloud Wallet does not support the TON blockchain, so winning users or users participating in the FCFS phase need to bind the TON address of their Seed Phrase Wallet in advance to complete the reward redemption. You can create or import a Seed Phrase Wallet using Bybit Wallet and bind the TON chain address.

 

 

 

Can I change the bound TON wallet address?
Yes, you can change the bound TON address at any time during the registration phase. However, once the registration phase ends, the address cannot be modified, so please ensure you input the correct address.
If you did not bind it during the registration phase, you will have one last chance to bind the address if you win the lottery or enter the FCFS phase. After this binding, the address cannot be changed, so please make sure to input the correct TON chain wallet address.

 

 

 

After binding the TON wallet address, if I win the lottery or enter the FCFS phase, how do I complete the redemption?
The redemption process is the same as for other projects. You will need to prepare the corresponding tokens in your Cloud Wallet for redemption. You can check the required tokens on the project page.