Bybit Web3 Empowers Users with Industry-Leading IDO Refund Policy
DUBAI, United Arab Emirates, May 6th, 2024, Chainwire
Bybit, one of the world’s top three crypto exchanges by volume, today announced an industry-leading Initial DEX Offering (IDO) Refund Policy, prioritizing user protection and fostering a secure and transparent environment for blockchain development, as IDOs have emerged as a popular method for launching new cryptocurrency projects.
“In the dynamic world of DeFi, IDOs present exciting opportunities for investors and crypto enthusiasts,” said Emily Bao, Bybit Web3 Evangelist. “However, understanding the associated risks is crucial. The launch of Bybit’s IDO Refund Policy empowers users with an added layer of security, enabling informed participation. This aligns with our vision of creating an open, simple, and easy-to-access environment for all stakeholders.””
The Bybit Web3 IDO Refund Policy offers participants the flexibility to request a full or partial refund under specific conditions:
- TGE Price Decline: If the average token price falls below the initial price within two weeks of the Token Generation Event (TGE), users can claim a 100% refund.
- Staged TGE Downturn: For IDOs with a staged token release (TGE n%), users can trigger a refund for unreleased tokens if the average price dips below the initial price before the second release. The refund covers up to 1-n% of the total holdings.
Bybit Web3’s user-friendly refund process allows eligible participants to initiate claims through a dedicated refund button appearing within a defined timeframe. The intuitive interface ensures seamless interaction with the refund contract, facilitating the exchange of project tokens for stablecoins at the initial IDO price.
Transparency and User Responsibility
Bybit Web3 prioritizes transparency throughout the IDO process. The policy clearly outlines user responsibilities, including gas fee coverage and eligibility criteria. To qualify for a refund, users must have acquired subscriptions directly through Bybit Web3, and their holdings must remain untransferred or unsold.
Project Token Unlocking Schedules
The IDO Refund Policy complements Bybit Web3’s project token unlocking schedules. For TGE 100% offerings, full fundraising is unlocked after one month. For TGE n% offerings, the unlocked portion follows the same timeline, with the remaining tokens subject to vesting schedules for subsequent releases.
Bybit Web3’s IDO Refund Policy empowers users to navigate the DeFi landscape with confidence.
