Bybit Launchpad: What It Is and How to Use It

Innovation is the bread and butter of cryptocurrencies. New platforms and tools emerge to address the constantly evolving needs of the market as the ecosystem matures. You can discover these innovations on Bybit Launchpad, a structured and secure environment that connects promising new projects with investors.

It's quite similar to Binance Launchpad. So, let’s find out what makes Bybit Launchpad stand out from the competition and how it works. Whether you’re an investor looking for the latest new tokens or an aspiring innovator eager to launch a new cryptocurrency project, you can benefit from what it has to offer.

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What is Bybit Launchpad?

Bybit Launchpad, as the name suggests, is a platform hosted on the crypto exchange’s ecosystem. This is the place where new cryptocurrency projects are introduced for crowdfunding.

Before a project’s token becomes available to the public, early investors can access and buy it at a low price and sell it later for a profit if the price goes up. Similarly, new project creators can benefit from easy access to a large group of crypto investors and enthusiasts looking for the next big idea to support.

The secure and structured ecosystem of Bybit Launchpad helps reduce the risk of rug pulls and scams. This allows a symbiotic mutualism between investors and innovators during token sales and promotions, allowing the crypto ecosystem to thrive and self-sustain within a decentralized autonomous ecosystem.^[1]

As part of its commitment to innovation, the platform rolled out Bybit Launchpad 3.1 in 2023. Compared to version 2.0, version 3.1 comes with plenty of improvements that are worth noting, especially in regards to its USDT lottery system.

Bybit 3.1 VS 2.0: What’s New? 

As a platform for launching innovative blockchain projects, Bybit Launchpad provides access to pre-listing rounds where users can get early access to new cryptocurrencies. To qualify, users must participate in a subscription period, where they allocate some of their tokens to potentially win a chance to earn new ones.

Bybit Launchpad offers two subscription methods, but traders can only pick one and cannot join both at the same time. Users can either commit Mantle (MNT) for token allocation or Tether (USDT) via the lottery subscription track to join a campaign. If this is your first time trading, you may not be sure what these tokens are, so I will give a quick explanation.

Mantle is the native token of the Mantle Network, an Ethereum Layer-2 solution designed to improve scalability, reduce fees, and enhance security. Meanwhile, USDT is a stablecoin pegged 1:1 to the US Dollar that operates on multiple blockchains and is widely used for transactions, trading, and as a hedge against market fluctuations.

Now, let’s get back to the topic at hand. On the Bybit Launchpad 3.1, the prerequisites to join a campaign are kept the same, namely for the MNT Subscription Track, with an average daily holding of 50 MNT, and the USDT Lottery Track, with an average daily holding of 100 USDT.

So, what changed? For one, the MNT Subscription scheme is slated to be optimized in Bybit 3.1. Likewise, the USDT Lottery scheme has seen some improvements. Now, instead of getting one lottery ticket and one share of new tokens per participant, eligible users can get a maximum of three tickets with the following provisions:

• VIP users automatically get three extra lottery tickets.
• Non-VIP users may get up to two lottery tickets if they pass the eligibility.

The requirements for getting additional tickets for non-VIP users are straightforward. As a starter, you'll need to have a daily average balance of more than 100 USDT in your wallet.

Alternatively, you can get a ticket for every 1,000 USDT equivalent asset position or a 5,000 USDT cumulative spot trading volume accumulated during the snapshot period.

An additional ticket can be unlocked if the non-VIP user maintains a 10,000 USDT worth of asset position and 25,000 USDT cumulative spot trading volume.

Bybit Launchpad VS Bybit Launchpool: What’s the Difference?

Now that you know what Bybit Launchpad is, you might be interested to know about the Launchpool. So what’s the difference between the two? Let’s get to the basics before we discuss the specifics.

Launchpad and Launchpool are two ways to raise money for startups. Both aim to make investing easier and more user-friendly. However, they work in different ways. Here are the main differences:

• Bybit Launchpad is a platform for token sales (Initial Exchange Offerings, or IEOs). It allows users to earn newly launched project tokens before they are publicly available on the market. To participate, users must hold certain amounts of MNT or USDT for a certain period and go through the subscription track or lottery system.
• Bybit Launchpool, on the other hand, allows users to earn tokens by staking various cryptocurrencies, such as MNT, USDT, and USDC, over a set period. The staked tokens can be redeemed anytime, giving users more flexibility compared to the token lock-up period in a Launchpad. Therefore, Launchpool focuses more on passive rewards, where users can earn tokens just by staking their assets.

Similar to Bybit Launchpad, only users who have passed the level 1 individual KYC check are eligible to participate in a Launchpool. Businesses are not eligible to join the Launchpool, however, but they can join the Launchpad on Bybit.

For individuals interested in participating in the Launchpool, you need to register for the project you’re interested in. Once done, you can stake and earn tokens for the project you choose.

The daily yield for Launchpool is automatically calculated based on the number of tokens you have staked in each pool, proportional to the amount staked in each pool by other participants.

Calculations begin the next day after staking and will be credited to your Funding Account daily. It’s important to keep in mind that you can’t generate a yield on the day when you un-stake the tokens you previously staked.

After a Launchpool event ends, your last staked tokens and daily yield will be sent to your Funding Account within a few hours after 00:00 UTC each day. Take note that you will only earn if your yield is greater than $0.01 or equal to that. Some delays may happen due to unforeseen circumstances.

Additionally, you can potentially maximize your rewards by participating in Bybit’s Launchpool Referral program. During the Launchpool event, you can generate an exclusive invitation link to share with your friends.

If your friends register and participate in the campaign using your referral, you will earn a reward by the end of the event, which you may claim through your Rewards Hub.

How Does the Bybit Launchpad Work?

If you’ve used exchanges like Binance, you may already be familiar with how launchpads work. However, in case you haven’t, I will give you a primer before we get to the nitty gritty of the subject. In a nutshell, every project in Bybit Launchpad will undergo several stages, namely Snapshots, Subscription, Distribution, and Launch.

In each stage, you can participate using a Bybit token of your choice, either USDT or MNT tokens. In exchange, you will earn rewards through new tokens on the launchpad.

Let’s dive deeper into each of these stages one by one!

Snapshot Period

At this stage, the launchpad will record the daily average amount of your MNT or USDT balance. The amount will be tallied from the tokens you store in Funding, Spot, and Derivatives Accounts. This period will last between 3-5 days, and snapshots will take place automatically every hour.

Each subscription track has requirements you must fulfill. First, the MNT Token commitments require 50 or greater amounts of MNT in all your accounts. The snapshots will be updated every 3AM UTC each day, but you may not be able to view them in real-time due to the sheer volume of the calculation process and the time it requires to overwrite existing records.

Another important note is the MNT tokens that are staked in Flexible Savings, Lending, Launchpool, or as collateral in Bybit Loans. They will also be recorded in your Funding Account. Meanwhile, MNT tokens that you stake in other Bybit Earn products, such as Dual Asset, won’t qualify.

What about the assets you store in a Derivatives Account? According to Bybit’s website, the balance will also be accounted for in the snapshot. However, you must remember that a Derivatives Account balance might fluctuate and be impacted by Profit and Loss, so it might affect the final snapshot of your overall token amount.

Fulfilling a certain amount of USDT tokens is another way to qualify for the Launchpad. Bybit only needs you to fulfill one criterion if this is the track you pick. All you have to do is ensure that the daily average of USDT in your Spot, Funding, and Derivatives Account is equal to or more than 100 USDT.

Subscription Period

The next phase is the subscription period. If you pass the first requirement, you can now participate in this stage according to the track you have chosen. To do so, navigate to the Bybit Launchpad page, find a project you’re interested in, and pick your preferred subscription system.

First, let’s take a look at how you can do that using the MNT allocation method. To use this track and participate in a Bybit Launchpad campaign, click [Commit Now] on a project you choose. Then, specify the amount of MNT you want to allocate to the project during the period. 

It’s possible to partake in the subscription track’s commitment schemes several times. Remember that the maximum amount you can commit depends on the cumulative daily average of all the MNT balances in your Spot, Funding, and Derivatives Accounts by the end of the snapshot period. There is also a limit on the maximum number of tokens each subscriber may get from each project.

The second method is through the lottery track, which uses USDT and the lottery tickets you have. As with the previous method, all you need to do is select a project, click on [Commit Now] to stake 100 USDT, and enter all your lottery tickets into the draw for a random selection.

Unlike the MNT subscription track, earning new tokens through the lottery campaign depends on luck. The more lottery tickets you have, the higher your likelihood of winning is. You can get a maximum of four tickets per campaign if you are eligible.

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Distribution and Launch Period

In this period, the amount of MNT and USDT you have committed will be deducted from your account. Then, your new tokens will be distributed to your Spot or upgraded Unified Trading Account (UTA).

Meanwhile, if there are still leftover tokens, they will be returned to your Funding Account. Participants who don’t win the lottery will get the full amount they previously committed back into their Funding Account, as well.

After the whole stages are completed and the liquidity conditions are fulfilled, the latest Spot pair will go live. You can then go to Bybit’s spot market to trade it.

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How to Qualify for the Bybit Launchpad

Before you can join a Bybit Launchpad event, make sure you are eligible to participate. Luckily, there are only two conditions you need to meet. Namely, passing your level 1 Know-Your-Customer verification and making sure you’re not from one of the restricted countries stated in Bybit’s Terms of Service.

Make sure to complete your KYC verification before the Subscription phase starts. If you haven’t done so, you won’t be able to participate in the ongoing Launchpad event. Completing your KYC verification only takes a couple of minutes by doing the following:

Step 1: Sign up or log in to your Bybit account.

Step 2: Choose [Account] in the screen's upper right-hand corner.

Step 3: Select [Account Information], then select [Verify Now] under [Identity Verification].

Step 4: Submit the required documents.

Once that’s out of the way, you will have to wait until the verification process is completed. Typically, it only takes 15 minutes until your verification is approved. However, in some rare cases, the evaluation may take up to 48 hours due to system overload or the complexity of the checks.

KYC Requirements

Now that you know the steps to qualify for a Bybit Launchpad event, let’s discuss the requirements to pass the platform’s KYC process.

KYC, or Know-Your-Customer, is a verification process that all Bybit users must complete to unlock the full functionality of the platform. Bybit Launchpad is one of the gate-kept features behind this verification process, requiring users to complete the checks before participating in an ongoing launchpad campaign.

Luckily, Bybit Launchpad's KYC requirements and checks are pretty straightforward to follow and fulfill. This is because only level 1 verification is required to pass Bybit Launchpad KYC. However, it won’t hurt to know the full extent of the verification process, as all users are highly recommended to finish the verification checks to obtain attractive perks and secure their accounts.

For Individuals

Individual KYC checks can be divided into levels 1 and 2, with level 2 granting users the highest privileges and access.

Level 1 KYC check is a basic identity check. Meanwhile, a level 2 KYC check requires proof of address for additional background screening.

For level 1, users need to submit a national identification document like an ID card, a passport, a driver’s license, or a residence permit. The document has to be original, uncropped, unedited, and not photocopied. Your full name and birthdate should be clearly visible. On top of that, you also need to complete a facial recognition scan to finish this check.

As for level 2, additional documents as further proof of address are necessary. The platform accepts the following:

Table: Accepted and non-accepted KYC documents on Bybit

Keep in mind that the documents aboveneed to be valid for the last three months within the submission date. Once everything is submitted, all you need to do is wait. You may check the status of your verification in your dashboard after some time has passed.

For Businesses

Business entities have their own KYC process to be eligible as participants on Bybit Launchpad. There are more documents to submit and, therefore, more time for the verification to be approved. To complete the KYC check as a business entity, you can do so via the platform’s specified KYC portal. Any document that you send via email won’t be processed.

The following documents are required for Bybit’s Business KYC: 

• Name and Nationality of the Ultimate Beneficial Owner (UBO), defined as somebody owning 25% or more interest in the company. The referred UBOs will need to verify the validity of this information via the verification link sent to their email.
• All the directors’ passports or IDs and proofs of address if they’re not the UBOs.
• The account operator’s passport or ID and proofs of residencies if they’re the UBOs.
• Incorporation certificate.
• Articles, constitution or memorandum of association.
• Latest register of members and directors.
• The company’s organization chart.

Similar to other KYC verifications, these documents must be no older than the last three months before the submission date. Verification will take three to five business days, sometimes longer if the screening requires more time.

Standout Features of Bybit Launchpad

Still not sure whether you should give Bybit Launchpad a try? Below are some of the main reasons why you don’t want to miss out on what the platform has to offer, whether you’re looking for the hottest Bybit coin project that has taken over the crypto space or diversifying your portfolio to maximize potential rewards.

Low Risk, High Reward 

Bybit Launchpad 3.1 is optimized for safe, low-risk investments by implementing features such as a hard limit on the maximum amount of tokens that can be committed to every new project on the Launchpad.

Bybit takes the daily average of your Funding, Spot, and Derivatives Account balance throughout the snapshot phase. As such, the platform encourages investors not to put all of their eggs in one basket so you can diversify your portfolio, which may lead to overall lower investment risks.

Another reason why Bybit Launchpad is considered low risk can be identified in its rigorous selection process for new projects. Afraid of getting scammed and rug-pulled from a project you randomly find on social media? No need to worry because every project listed on Bybit Launchpad has been vetted for safety.

Moreover, the platform is suitable for those looking to score high rewards. Investors can easily participate in Bybit Launchpad by committing a set amount of USDT or MNT tokens. Such requirements are not difficult to fulfill by anyone looking to gain a share of new tokens launched on the platform.

Whether you want to commit USDT or MNT, there are plenty of ways to earn these tokens for free. You can refer your friends, join community-held events like giveaways, or complete various tasks such as finishing your KYC check and holding at least 100 Bybit’s native token, BIT, in your account.

Early Access to Promising Projects

Bybit Launchpad gives every investor an equal chance to gain tokens from a new project without risking a large sum of their assets, regardless of whether they’re an individual or a seasoned venture capitalist.

After the ongoing launchpad event is done, the new token will go live. Since you’ve gained a head start by earning some of those tokens, you’ll reap benefits if their value appreciates in the future.

Whether you decide to hold the tokens you earn for a long period of time or immediately start trading them immediately on the platform, you’ll be set either way.

Receive Up to Four Lottery Tickets

If you’re a Bybit VIP, you can enjoy extra perks like automatically getting three additional lottery tickets with USDT tokens. In total, you’ll get four tickets alongside the ones you initially held. Having extra tickets gives you a higher chance of winning the USDT lottery.

What’s more, becoming a Bybit VIP is hassle-free. All you need to do is fulfill either one of the two requirements: reaching a specific monthly trading volume or maintaining a specific amount of asset balance.

The best part is you may even qualify as a Bybit VIP by being a VIP on another exchange. How? All you need to do is screenshot your VIP status or the monthly trading volume on that platform and shoot an email to [email protected].

How to Use the Launchpad on Bybit

Using Bybit Launchpad is extremely convenient and straightforward. Here’s the step-by-step of what you need to do:

Step 1: Log in to your Bybit account. 

Step 2: Select [Trade] and hover above [Spot X]

Step 3: Select [Launchpad].

Step 4: Pick the project you want. Choose how you want to participate.

Step 5: As an example, if you select Subscription Track, click [Commit Now].

Step 6: Enter the specified MNT amount to commit.

And that’s it. Bear in mind that if you go through the Subscription Track, you can’t cancel the subscription while the campaign is ongoing.

Pros

• Secure and reliable
• Low fees
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• Reputable exchange
• Multiple fiat currencies are accepted
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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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How to Choose a Project

Not all crypto projects are built equal. Some fall off the wayside, while others manage to rise into popularity and win massive public support.

Possible factors that drive the fundraising success of token offerings include the token's price and momentum, the venture's domicile, the distribution of the token, target market capitalization, and, of course, the genuine hype based on the project’s credibility.^[2] The same also applies to the projects launched on Bybit Launchpad.

While it’s possible to potentially maximize profits by investing in the latest coins and tokens, some risks are inevitable in any form of speculative trading.

That’s why, despite Bybit’s rigorous checks on the users and projects launched on their platform, you still need to do your due diligence and invest responsibly. When investing in new projects, whether it's a Bybit coin or token, it's crucial to evaluate several key factors to ensure you're making an informed decision.

One of the most important aspects is liquidity, as a higher level of it helps you enter and exit positions in a market. Consequentially, you can buy or sell assets without significant price slippage.

Market capitalization is another critical factor, as it indicates the size and potential growth of a project. A higher market cap often suggests that a project has gained significant traction, but it's also essential to consider the long-term potential rather than short-term volatility.

Additionally, understanding the use cases of the coin or token is vital to gauge its real-world utility and adoption. A project with strong, practical use cases is more likely to have sustained demand and value over time.

Security is also paramount. Find a project with robust measures to protect user funds and data. With the rise in crypto scams and fraud cases, it’s essential to navigate the space with caution and a sharp eye.

Lastly, community support and growth play a significant role in the success of a project. A strong, active community can drive adoption and provide valuable feedback for improvement, while ongoing growth indicates that the project is gaining momentum.

By considering these factors, you can make more informed decisions when investing in new projects.

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Conclusion

Bybit Launchpad connects investors with innovative crypto projects, offering a low-risk way to access pre-listed tokens. Its Subscription and Lottery tracks provide flexibility, backed by Bybit's secure vetting process.

The platform Launchpad’s upgrade to 3.1 further enhances user experience with an improved token allocation and more lottery opportunities for all users, encouraging broader participation and stronger community ties.

Overall, Bybit Launchpad offers a reliable way to access promising tokens with low risk. It’s a great alternative to other exchange launchpads like Binance, making it easy to diversify your portfolio or explore new crypto projects.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Shi, J., Jincheng, Z., Wang Y., Chuen, D. L. K: 'The Evolution and Future of Cryptocurrency-Based Fundraising Mechanisms';

2. Alexander, C., Dakos, M.: 'The New Tokenomics of Crowdfunding'.