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1. What is ByStarter?
ByStarter is a token sale platform on Bybit. By ByStarter, you can invest in projects before they are listed on exchanges.
ByStarter is not only a place for those who want to invest but also an opportunity for projects seeking to raise capital. Even projects that have completed their IEO can use ByStarter to attract investment and interest from the investment community.
2. Operation mechanics of ByStarter
Projects on ByStarter consist of four main phases: the warm-up phase, the registration phase, the allocation phase, and the result announcement phase.
2.1. Warm-up Phase
- Before officially starting, each project goes through a "Warm-up" phase.
- Participants need to register an account on the Bybit platform and complete the identity verification process.
- During this phase, they must deposit at least 100 USDT into their account.
2.2. Registration Phase
- During this phase, interested participants must answer questions corresponding to each project on ByStarter and commit an amount of money according to the project's conditions.
- Specific terms and conditions will be announced so that participants can fully understand and make informed decisions.
2.3. Allocation Phase
- During this phase, the system will randomly select winners.
- The winners will receive airdropped tokens corresponding to their commitments.
2.4. Result announcement
The selected winners will receive notifications about the results and their airdropped tokens. Additionally, information about any lock-up rules or vesting periods will also be communicated.
3. The projects on ByStarter
3.1. The projects launched on ByStarter
3.1.1. Sui Network (SUI)
Sui Network is a Layer 1 blockchain platform built with a Monolithic architecture, allowing it to handle all tasks and operations on a single network. Using the Move programming language, initially created by Facebook, Sui Network offers flexibility and convenience in application development.
One of the unique features of Sui is its ability to scale up to several hundred thousand TPS, enabling a flexible ecosystem that quickly responds to diverse user needs. Its block time ranges from 2 to 3 seconds, optimizing the user experience, especially for transaction execution.
The Sui Network project successfully raised $336 million in two funding rounds, Series A and Series B, led by investors such as Binance Labs, a16z, Coinbase Ventures, Jump Crypto, and others.
3.1.2. Mantle (MNT)
Mantle is an Ethereum Layer 2 scaling solution that applies a Modular blockchain design, enabling faster and more cost-effective transactions on the Ethereum network.
Developed by BitDAO, Mantle Network utilizes the BIT token, issued by BitDAO, as a means of payment for transactions within the project's ecosystem. Mantle is not only a scaling model but also a crucial bridge connecting various projects across the entire BitDAO ecosystem.
3.2. How to participate in ByStarter?
To participate in ByStarter on Bybit, users should follow these steps:
- First, visit the Bybit website.
- Next, click on "Trade" → then "Spot X" → and then select "ByStarter".
On ByStarter, the SUI whitelist round was launched at $0.03, and currently, the price of SUI has increased 19 times from that initial price. Recently, Bybit introduced Genesis Mantle (MNT) on ByStarter, allowing participants to receive free MNT airdrops.
4. Frequently Asked Questions
Here are the answers to the questions about ByStarter:
Q: Who can participate in ByStarter?
A: All users who meet the basic requirements can participate in ByStarter. If you are in a restricted country or region, you will not be able to participate in ByStarter.
Q: Can users register multiple times during the registration period?
A: No, each user can only register once during the registration period.
Note: If users plan to upgrade their VIP level, please do so before registering.
Q: Which types of tokens are supported for commitments on ByStarter?
A: ByStarter currently supports USDT and USDC.
Q: Can sub-accounts participate in ByStarter for MNT?
A: No, sub-accounts cannot participate in ByStarter.
These answers provide clarity on eligibility, registration limits, supported tokens, and account types for participating in ByStarter activities.
5. Conclusion
ByStarter is a promising cryptocurrency investment platform, offering unique opportunities for interested individuals to participate in early-stage potential projects. TheBlock101 wants to provide you with this information about ByStarter.
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