Bybit Web3 provides users with an industry-leading IDO refund policy

One of the world's three largest cryptocurrency exchangesBybit announced today the launch of the industry-leading Initial DEX Offering (IDO) refund policy, Prioritize user safety and create a safe 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, IDOs present exciting opportunities for investors and cryptocurrency enthusiasts,” said Bybit Web3 evangelist Emily Bao. “However, it is crucial to understand the risks involved. The introduction of the Bybit IDO Refund Policy brings greater security to users and enables them to participate wisely. This is in line with our vision to provide benefits to all Stakeholders create an open, simple and accessible environment”

Bybit Web3 IDO Refund Policy allows participants the flexibility to request a full or partial refund under certain conditions:

• TGE Price Drop: If the average price of the Token Generation Event (TGE) falls below the initial price within two weeks, users will receive a full refund.
• Phased TGE downturn: For IDOs that issue tokens in stages (TGE n%), if the average price drops below the initial price before the second issuance, users can trigger withdrawals for unissued tokens payment. The maximum refund amount is 1-n% of the total position.

Bybit Web3’s user-friendly refund process enables eligible participants to initiate a claim within a specified time using a dedicated refund button. The interface is clear and intuitive, ensuring seamless interaction with the refund contract to convert project tokens into 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 miner fee coverage and eligibility criteria. To be eligible for a refund, users must subscribe directly through Bybit Web3, and positions cannot be transferred or canceled.

Project Token Unlocking Schedule

The IDO refund policy is a supplement to the Bybit Web3 project token unlocking schedule. For TGE 100% issuance, full funds will be unlocked after one month. For the TGE n% issuance, the unlocked portion follows the same timeline, with the remaining tokens subject to the vesting schedule for subsequent issuances.

Bybit Web3’s IDO refund policy helps users navigate the DeFi space with peace of mind.

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, more open, and more equal ecosystem for everyone. We are committed to welcoming builders, creators and partners in the blockchain space, extending an invitation to cryptocurrency enthusiasts and the curious, with a community of over 1 million wallet users and over 10 major ecosystem partners.

Bybit Web3 provides a complete set of Web3 products designed to help users easily and openly access, exchange, collect and grow Web3 assets. Bybit's wallet, marketplace, and platform are all built on security and expertise, building Bybit into the top 3 cryptocurrency exchanges in the world, trusted by 25 million users worldwide.

To learn more about Bybit, please visit Bybit Web3.

About Bybit

Bybit is one of the three largest cryptocurrency exchanges in the world, with a trading volume of 25 million. Founded in 2018, the platform offers cryptocurrency investors and traders a professional platform with a super-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a partner of F1 team and driver champion Oracle Red Bull Racing.

For more information about Bybit, please visit Bybit Press.

For media enquiries, please contact: media@bybit.com

For more information, please visit: https://https://www.bybit.com

For more information For the latest updates, please follow: Bybit community and social media

The above is the detailed content of Bybit Web3 provides users with an industry-leading IDO refund policy. For more information, please follow other related articles on the PHP Chinese website!