[PRESS RELEASE – Dubai, United Arab Emirates, May 13th, 2024]
Bybit Web3, the Web3 division of Bybit, one of the top three global crypto exchanges by trading volume, today announced an upcoming Initial DEX Offering (IDO) for Thetanuts (NUTS) on its Web3 platform.
“Bybit Web3 is thrilled to provide our community with early access to Thetanuts, a leading DeFi options protocol redefining the altcoin options landscape,” said Emily Bao, Bybit Web3 Evangelist. “Thetanuts’ impressive TVL demonstrates strong community support and highlights the project’s potential to shape the future of DeFi options trading.”
Thetanuts – Leading Decentralized Options Protocol
Launched in August 2021, Thetanuts Finance is a decentralized on-chain options protocol focused on altcoin options, allowing users to go long or short on on-chain options. Thetanuts has already established itself as a major player, becoming the #1 DeFi Options Protocol by TVL per @DefiLlama with exceeding $30 million in Total Value Locked (TVL).
NUTS serves as the governance token of Thetanuts Finance, playing a crucial role in achieving the protocol’s long-term goals. It will be used to achieve the long-term objectives of the protocol — including decentralization, governance, and incentives.
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 Details
Token: NUTS
Total Allocated to Bybit IDO: 66,660,000
Total Supply: 10,000,000,000
Eligibility Requirements
Users must hold a Bybit Wallet with a minimum balance of 400 USDC (Ethereum Chain) throughout the Snapshot Period to participate in the IDO.
Three (3) snapshots will be taken daily during the Snapshot Period.
Maximum number of winners: 1,500
For detailed information on the IDO process and eligibility requirements, users can visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. Bybit are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 25 million users globally.
User can join the revolution now and open the door to their Web3 future with Bybit.
For more details about Bybit, users can visit Bybit Web3.
About Bybit
Bybit is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, users can visit Bybit Press.
For media inquiries, users can contact: media@bybit.com
For more information, users can visit: https://www.bybit.com
For updates, users can follow: Bybit’s Communities and Social Media
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