Bybit has announced the launch of Monster Galaxy P2E (GGM). The exchange will follow the Launchpad subscription format to issue GGM, the time to record user BitDAO (BIT) balances for 5 days in Spot Account and ByFi Account from 00:00AM UTC on Jan. 13, 2022 to 11:59PM UTC on Jan. 17, 2022.
If you don’t have a Bybit account, sign up here to join the event.
What is Monster Galaxy P2E (GGM)?
Monster Galaxy Play-2-Earn is an exciting creature-taming and battling game inspired by Pokémon and Monster Hunter, and is the latest game in the Monster Galaxy series. By leveraging upon NFTs, the game rewards players’ time with full ownership of in-game Mogas. Just as with the previous games, players can collect and trade Mogas and breed them for battle.
Compared to pay-to-play NFT games like Axie Infinity — where you’re required to fork out an initial fee before you’re able to start playing the game — Monster Galaxy P2E is built on a free-to-play model that lets anyone try it out. All players will be granted 100 Star Seeds for capturing Mogas, along with a starter Moga. This free starter Moga significantly reduces the barrier to entry for anyone interested in trying Monster Galaxy P2E as they familiarize themselves with the game’s combat and earning mechanics.
GGM Token Details:
• Name: GGM
• Total Supply: 1,000,000,000 GGM
• Total Allocated to Bybit Launchpad: 10,000,000 GGM( 1 % of the Total Supply)
• Cap Per User: 14,000 GGM
• Price: 1 GGM = $0.025 (exchange rate between BIT and GGM 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. 18, 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 GGM distribution.
Distribution Period: 11:00AM to 11:59AM UTC on Jan. 18, 2022
Your final GGM allocation amount = (the amount of BIT you’ve committed / total amount of BIT committed by all participants) * total amount of GGM allocated for the project.
Based on your final GGM allocation result, the corresponding BIT equivalent will be deducted from your committed amount, while your GGM allocation and the remaining BIT will be credited back to your Spot Account.
Listing: The new spot pair, GGM/USDT, will be live for trades at 12:00PM UTC on Jan. 18, 2022.
If you don’t have a Bybit account, sign up here.
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