One of the world's top three cryptocurrency exchanges, Bybit, announced today the launch of the industry-leading Initial DEX Offering (IDO) refund policy, prioritizing user safety and creating a secure and transparent environment for blockchain development, as IDO has become a popular way to launch new cryptocurrency projects.
"In the rapidly changing world of DeFi, IDO brings exciting opportunities for investors and cryptocurrency enthusiasts," said Emily Bao, Bybit Web3 communicator. "However, understanding the related risks is crucial. The introduction of the Bybit IDO refund policy provides users with higher security guarantees, allowing them to participate wisely. This aligns with our vision of creating an open, simple, and accessible environment for all stakeholders."
The Bybit Web3 IDO refund policy allows participants to flexibly apply for a full or partial refund under specific conditions:
- TGE Price Decline: If the Token Generation Event (TGE) average price falls below the initial price within two weeks, users can receive a full refund.
- Phase TGE Slump: For IDOs with phased token issuance (TGE n%), if the average price falls below the initial price before the second issuance, users can trigger a refund for the unreleased tokens. The refund amount is capped at 1-n% of the total holding.
The user-friendly refund process of Bybit Web3 allows eligible participants to initiate the refund within a specified time using a dedicated refund button. The interface is clear and intuitive, ensuring seamless interaction with the refund contract to exchange project tokens for stablecoins at the initial IDO price.
Transparency and User Responsibility
Bybit Web3 prioritizes transparency throughout the entire IDO process. The policy clearly outlines user responsibilities, including gas fee coverage and eligibility criteria. To qualify for a refund, users must directly subscribe through Bybit Web3 and cannot transfer or cancel their holdings.
Project Token Unlock Schedule
The IDO refund policy complements Bybit Web3's project token unlock schedule. For 100% issuance TGE, all funds will be unlocked after one month. For TGE n% issuance, the unlocking of a portion follows the same timeline, and the remaining tokens are subject to the schedule of subsequent issuances.
Bybit Web3's IDO refund policy can help users confidently navigate the DeFi space.
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, more open, and more equitable ecosystem for everyone. They are committed to welcoming builders, creators, and partners in the blockchain space, inviting cryptocurrency enthusiasts and the curious. The community consists of over 1 million wallet users and more than 10 major ecosystem partners.
Bybit Web3 offers a full suite of Web3 products designed to help users easily and openly access, exchange, collect, and grow Web3 assets. Bybit's wallet, marketplace, and platform are built on security and professional technology, making Bybit one of the top three cryptocurrency exchanges globally, trusted by over 25 million users.
For more information about Bybit, please visit Bybit Web3.
About Bybit
Bybit is one of the top three global cryptocurrency exchanges with a trading volume of up to 25 million. Established in 2018, the platform provides a professional platform for cryptocurrency investors and traders, offering a super-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a partner of the F1 team and driver champion Red Bull Racing.
For more information about Bybit, please visit Bybit Press.
For media inquiries, please contact: media@bybit.com
For more details, please visit: https://www.bybit.com
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