Dubai, United Arab Emirates, May 13th, 2024, Chainwire
Exciting News from Bybit Web3
Bybit Web3, the innovative Web3 division of Bybit, one of the leading global crypto exchanges by trading volume, has just announced an upcoming Initial DEX Offering (IDO) for Thetanuts (NUTS) on its Web3 platform.
Quoted Statement
“We are thrilled to offer our community early access to Thetanuts, a prominent DeFi options protocol that is reshaping the altcoin options landscape,” said Emily Bao, Bybit Web3 Evangelist. “Thetanuts, with its remarkable TVL, showcases strong community backing and underlines the project’s potential to revolutionize DeFi options trading.”
Thetanuts – Revolutionizing Decentralized Options
Introducing Thetanuts Finance, a decentralized on-chain options protocol specializing in altcoin options, launched in August 2021. Users can now take either long or short positions on on-chain options through this platform. Thetanuts has quickly risen to prominence, ranking as the #1 DeFi Options Protocol by TVL per @DefiLlama, with a TVL exceeding $30 million.
NUTS, the governance token of Thetanuts Finance, plays a vital role in achieving the protocol’s long-term objectives. It will drive decentralization, governance, and incentivization efforts.
Exciting 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 Specifics
- Token: NUTS
- Total Allocated to Bybit IDO: 66,660,000
- Total Supply: 10,000,000,000
Eligibility Criteria Reminder
- To participate in the IDO, users must maintain a Bybit Wallet with a minimum balance of 400 USDC (Chain) throughout the Snapshot Period.
- Three snapshots will be taken daily during the Snapshot Period.
- Maximum number of winners: 1,500
About Bybit Web3 and Bybit
Bybit Web3 is committed to creating an open and equal ecosystem in the decentralized world, welcoming builders, creators, and partners in the blockchain space. With over 1 million wallet users, more than 10 major ecosystem partners, and ongoing growth, Bybit strives to simplify access to Web3 assets. Bybit, a top 3 global crypto exchange, caters to 25 million users worldwide. For further information, visit Bybit Web3 and Bybit Press.
Contact Head of PR Tony Au at [email protected] for inquiries.