How to participate in IEO on ByBit

1) You must complete the KYC L1 requirement or business verification to be eligible for the event. Users from restricted countries are not allowed to join the event. You can click here to complete the KYC verification now.

2) The daily average amount of BIT in your Spot Account, ByFi Account and Derivatives Account from 2021-12-15 00:00 – 2021-12-19 23:59（UTC） must be equal to or greater than 50, and will be rounded up to the nearest integer. Your BIT balance snapshot of the current day will be updated at 3:00AM UTC on the next day.

3) Subaccounts are not eligible for the event. The amount of BIT under the Subaccounts will be counted towards the Main Account.

4) The BIT balance in your Spot Account, ByFi Account and Derivatives Account will be counted during the snapshot period. Please note that only your BIT balance and BIT staked in the Launchpool will be automatically counted in the snapshot of your ByFi Account. BIT staked in other products on the ByFi Center (e.g. Dual Asset Mining) will not be included. During the subscription period, if you’ve staked BIT in the Launchpool, unstake first and manually transfer it to the Spot Account. If you hold BIT under the ByFi Account or Derivatives Account, please manually transfer BIT to the Spot Account.

5) Bybit reserves the right to disqualify any participants who engage in dishonest or abusive activities during the event, including bulk-account registrations to farm additional bonuses and any other activities in connection with unlawful, fraudulent or harmful purposes.

6) Bybit reserves the right to modify the terms of this event without notifying users in advance.

7) Bybit reserves the right of final interpretation of this event. If you have any questions, please contact our customer service.

About izumi Finance

izumi Finance is a platform providing liquidity as a service with Uniswap V3 and a built-in multi-chain dex. Izumi Finance proposes innovative liquidity mining protocols to help protocols attract liquidity efficiently by distributing incentives in certain price ranges.

izumi Finance provides “Liquidity as a Service” (LaaS) based on Uniswap V3, designed to solve two problems: incentive inefficiency and pool 2 dillema.

izumi enhances incentive efficiency by supporting “non-homogenous” Uniswap V3 liquidity mining and enables protocols to distribute incentive rewards in certain price ranges. E.g., Stablecoin pools only pay out incentive rewards within a narrow price range (0.99,1.01).

izumi solves “pool 2 dilemma” problems by providing structured-incentive and auto-rebase modules, which could attract more liquidity with low emission rate for protocols while enabling non-impermanent liquidity mining for liquidity providers. (Pool 2 dilemma – high APR liquidity mining incentives in pool 2 usually brings high inflation rate and sell pressure).

iZi token 

iZi token is izumi platform’s utility token, it can be used to pay for cross-chain trading fees, incentive pool set-up and v3Toolbox usage.

Additionally, users need to stake iZi token to acquire ve-iZi token, which is izumi platform’s governance token that enables holders to be eligible for a range of benefits and participate in governance.

ve-iZi token

ve-iZi is not tradable or transferable and can only be obtained by staking iZi tokens. The amount of the ve-iZi balance is based on the amount of iZi tokens locked, and the time left before the unlock. The ve-iZi balance is linearly decreasing since the time of lock. The iZi tokens locked can not be withdrawn before the timelock has expired. However, it is possible to extend the timelock or increase the amount of staked iZi tokens.