What Is Aurigami (PLY)? The 2nd Project On Bybit Launchpad 2.0
Bybit has announced the launch of Aurigami (PLY). The exchange will follow the new Launchpad 2.0 subscription format to issue PLY, the time to record user BitDAO (BIT) and USDT Lottery record the daily average balance of the committed token for five (5) days in Spot Account and ByFi Account from 12AM (midnight) UTC on April 30, 2022 to 11:59PM UTC on May 4, 2022. You can either commit BIT to subscribe to token allocation or commit USDT to win an allocation of the project token. You cannot participate in both at the same time.
What is Aurigami (PLY)?
Aurigami is a decentralised, non-custodial liquidity protocol. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors provide liquidity to the protocol to earn a passive income, while borrowers are able to borrow in an over-collateralised fashion.
PLY Token Details:
• Token: PLY
• Public Sale Price: 1 PLY = $0.005 (Exchange rate between BIT and PLY will be confirmed when the subscription period starts.)
• Total Supply: 10,000,000,000 PLY
• Total Allocated to Bybit Launchpad: 200,000,000 PLY (2% of the total supply)
How does it work?
You can either commit BIT to subscribe to token allocation, or commit USDT to win an allocation of the project token from the lottery.
For the Subscription:
• Committed Token: BIT only
• Cap per Subscriber: 80,000 PLY
• Total Allocation: 160,000,000 PLY
For the Lottery:
• Committed Token: USDT only
• Allocation per Lottery Winner: 4,000 PLY
• Total No. of Winners: 10,000
• Total Allocation: 40,000,000 PLY
• Each lottery winner will receive an allocation of PLY. Non-winning participants will get their USDT committed back at the end of the event.
1. Snapshot Period: 12AM (midnight) UTC on April 30, 2022 to 11:59PM UTC on May 4, 2022
If you’d like to subscribe to token allocation: Your daily average balance of BIT should be equal to or greater than 50 BIT during this period, and it will determine the maximum allocation of the project token you can access.
If you’d like to participate in the lottery: Your daily average wallet balance of USDT must be equal to or greater than 100 USDT during this period.
Subscription Period: 3:30AM to 10:59AM UTC on May 5, 2022
If you’ve chosen the subscription: You must click on the “Commit Now” button to commit a certain amount of BIT during this period. The minimum amount required is 50 BIT. You can subscribe multiple times.
If you’ve chosen the lottery: You must click on the “Commit Now” button to commit 100 USDT for a lottery ticket. Each participant can only subscribe to one ticket.
The BIT or USDT you’ve committed will be locked and cannot be accessed for transfers, withdrawals or trading until after the final distribution of the project token.
Distribution Period: 11:00AM to 11:59AM UTC on May 5, 2022
For token allocation subscribers: Your final PLY allocation = (the amount of BIT you’ve committed / total amount of BIT committed by all participants) * total amount of PLY allocated for the project.
Based on your final PLY allocation result, the corresponding BIT equivalent will be deducted from your committed amount, while your PLY allocation and the remaining BIT will be credited to your Spot Account.
Please note that the max. amount of PLY you can receive is capped at 80,000 PLY, and the amount that exceeds the limit will be allocated to participants who haven’t reached this cap yet.
For lottery ticket holders: If you win, you’ll receive 4,000 PLY and the remaining amount of the USDT committed, 80 USDT, will be credited back to your Spot Account. If you don’t win, the 100 USDT you’ve committed will be credited back to your Spot Account.
Listing: The PLY/USDT Spot pair will be live for trades at 12PM (noon) UTC on May 5, 2022, if liquidity conditions are met.
If you don’t have a Bybit account, sign up here.
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