Before you subscribe for IDO 2.0 projects on Bybit, please make sure you’re aware of the following:

1. Participants need to have a Bybit account and a Bybit Cloud Wallet. To learn more about how to create these, please refer to the following:

• How to Register an Account
• How to Get Started with Bybit Web3

2. Participants who participate in IDO 2.0 subscriptions are randomly selected via smart contracts to win the token allocation lottery.

3. The smart contract code is public (please refer to the Smart Contract Code section below), and the list of winners will be announced on X (@Bybit Web3) the day after the end of the IDO project. Winners will also be notified via email.  

Here’s a step-by-step guide to participating in the Bybit Web 3 IDO 2.0 projects.

• Subscription
• Accumulate IDO Score
• Lottery
• Redemption
• First-Come, First-Served (for Non-Winners)

Step 1: Subscription

Tap on Earn → IDO, to be redirected to the IDO 2.0 page. Then, tap on the IDO project you wish to participate in to view details and tap on Subscribe Now to proceed with the registration.

Step 2: Accumulate IDO Score.

• Earning Score:
  • Complete the corresponding tasks to earn more scores.
  • The higher your score level, the more lottery tickets you will receive.

To learn more about how to boost your score, refer to the FAQ — Bybit Web3 IDO 2.0.

Step 3:  Lottery

Winners will be selected via a lottery. Bybit Web3 IDO 2.0 uses smart contracts to randomly choose winners, ensuring a fair chance for all participants.

Step 4: Redemption

Go to the IDO 2.0 project page to view the lottery results and redeem your prize.

Redemption Process:

• If you win:

• Redeem your IDO tokens during the redemption period.
• Ensure you have enough USDT (for BNB on-chain projects) or USDC (for ETH on-chain projects) in your Bybit Cloud Wallet to redeem your tokens.
• Complete the conversion using specified tokens as miner fees.
• After the conversion, tap on View Assets to see the tokens in your Bybit Cloud Wallet.

Notes:

— Tokens must be redeemed in full; partial redemption is not supported.

— Complete the redemption before the end of the redemption period. Unredeemed tokens will enter the first-come, first-served phase.

• If you do not win:

• If your IDO points level is 3 or above, wait for the first-come, first-served phase to start the token purchase.

Step 5: First-Come, First-Served (for Non-Winners)

After the redemption phase, non-winners can redeem the remaining tokens on a first-come, first-served basis.

Notes:

— If there are no remaining tokens, there will be no first-come, first-served phase.

— Once tokens are snapped up, the first-come, first-served phase ends automatically.

— This pool is open to participants with a points level of 3 or above for snap-up.

Smart Contract Code

Smart Contracts are executed on the blockchain, which means that the terms of the Bybit Web3 IDO project are stored in a distributed database and cannot be changed to ensure the impartiality of the winners selected in the lottery.