What is Kasta (KASTA)? The 8th Project On Bybit Launchpad

Bybit has announced the launch of Kasta (KASTA)The exchange will follow the Launchpad subscription format to issue KASTA, the time to record user BitDAO (BIT) balances for 5 days in Spot Account and ByFi Account from 00:00AM UTC on Dec. 31, 2021 to 11:59PM UTC on Jan. 4, 2022.

If you don’t have a Bybit account, sign up here to join the event.

What is Kasta (KASTA)?

Kasta is a blockchain-based mobile payment service. Their platform makes P2P payments straightforward. It delivers the market convenience needed for global cross-border payments as we migrate to a crypto-based economy. Their platform promotes worldwide bitcoin adoption while enhancing financial services.

Founded by Moon Carl, this platform simplifies and makes cross-border P2P payments convenient to its users because you can send or receive cryptocurrency instantly using the Kasta app. The driving force behind the development of this payment mode was to steer the world to the adoption of a secure, simple, and inexpensive method of electronic payment for goods and services. The system is customized to allow even the users with the least cryptocurrency knowledge to send, receive and store cryptocurrency easily and comfortably.

KASTA Token Details

• Name: KASTA

• Total Supply: 1,500,000,000 KASTA

• Total Allocated to Bybit Launchpad: 25,000,000 KASTA (1.67% of the total supply)

• Cap Per User: 9,500 KASTA

• Price: 1 KASTA = $0.04 (exchange rate between BIT and KASTA will be confirmed when the subscription period starts)

• Format: Multiple subscriptions supported

• Committed Token: BIT only

How does it work?

Over this 5-day period, the daily average amount of BIT in your Spot Account and ByFi Account will be recorded through hourly snapshots. Your BIT balance snapshot of the current day will be updated at 3:00 AM UTC on the next day.

Subscription Period: 3:30AM to 10:59AM UTC on Jan. 5, 2022

You must click on the “Commit Now” button to commit a certain amount of BIT towards the new project during this subscription period. The max. amount of BIT you can commit depends on the daily average BIT balance in your Spot Account and ByFi Account over the 5-day snapshot period.

Please note that the amount of BIT you’ve committed will be locked and cannot be accessed for transfers, withdrawals or trading until after the final KASTA distribution.

Distribution Period: 11:00AM to 11:59AM UTC on Jan. 5, 2022

Your final KASTA allocation amount = (the amount of BIT you’ve committed / total amount of BIT committed by all participants) * total amount of KASTA allocated for the project.

Based on your final KASTA allocation result, the corresponding BIT equivalent will be deducted from your committed amount, while your KASTA allocation and the remaining BIT will be credited back to your Spot Account.

Listing: The new spot pair, KASTA/USDT, will be live for trades at 12:00PM UTC on Jan. 5, 2022.

If you don’t have a Bybit account, sign up here.

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