ByVotes is a user-powered listing voting event. ByVotes allow users to directly vote for projects to be listed on spot or derivatives platforms, with free token rewards for users who vote for the best projects.
How to participate in ByVotes on Bybit
To participate in ByVotes, you can follow these four easy steps:
- Log in to your account: First, log in to the Bybit exchange. If you don't have an account, you can sign up for Bybit now and receive a 20% discount.
- Visit the Voting section: Go to Bybit Voting on the Bybit website.
- Select a project: Choose your favorite project from the ones offered in each voting round.
- Cast your vote: Use your vote to vote for your favorite project. Your votes are valid for the duration of the voting period and will expire after one use.
Two types of bytes: spot and derivatives
There are two types of bytes: spot and derivative, each of which has the following characteristics.
1. ByVote (Spot)
- Voting method: Votes are received through USDT snapshots.
- Listing method: Only the single project with the most votes will be listed in the Bybit Spot Innovation Zone.
- Voting rules: You can vote for multiple projects, the minimum number of votes for each project is 100 and the maximum is 10,000.
2. ByVote (Derivatives)
- How to get votes: MNT token holdings, weekly cumulative trading volume, and VIP project recommendations.
- Listing method: Multiple projects that meet the minimum required number of votes or are recommended by VIPs may be listed.
- Voting rules: You can only vote for one project in each voting period.
How to get rewarded for participating in ByVote
Participants who vote for the winning project will share the total reward pool reward allocated for each session according to the formula below.
Bybit Reward = (Individual Votes ÷ Total Votes) × Total Reward Pool
Rewards will be paid to spot accounts within 3 hours of the end of voting on Bybit spot basis, and the maximum reward amount per user may vary depending on the project being listed.
Rules for participating in ByVote
- Sub-account participation: Sub-accounts are not eligible to participate in ByVote. Voting can only be done through the main account, and assets in the sub-account may be included in the snapshot of the main account.
- KYC requirements: Personal KYC Level 1 or corporate KYC verification is required to participate in Bybit. This is a mandatory measure to verify user identity and enhance platform security.
