Velar (VELAR) on Bybit Launchpad 3.0: Now Live

We're excited to announce that our latest Launchpad project, Velar (VELAR), is now live!

About Velar (VELAR)

• Token: VELAR

• Price: 1 VELAR Token = 0.03 USDT

• Total Allocated to Bybit Launchpad: 8,000,000 VELAR

• MNT Pool: 4,000,000 VELAR (Cap per subscriber: 300 USD = 10,000 VELAR)
• USDT Lottery: 4,000,000 VELAR (Allocation per user: 12 USDT = 400 VELAR, winning tickets: 10,000)

[Website](https://www.velar.co/) | Whitepaper | X

Read about VELAR on Bybit Learn here.

How to Join Launchpad 3.0

1. Snapshot Period: Mar 29, 2024, 12AM (midnight) UTC – Apr 2, 2024, 11:59PM UTC

If you'd like to subscribe to token allocation: Your daily average balance of MNT must be equal to or greater than 50 MNT during this period, and it will determine your maximum allocation of new tokens.

If you'd like to participate in the lottery: Your daily average wallet balance of USDT must be at least 100 USDT during this period. The more you trade, the more Lottery Tickets you can earn.

During this period, the daily average MNT and USDT balance in your Funding Account, Spot Account, and Derivatives Account (or Unified Trading Account and Inverse Derivatives Account) will be recorded through hourly snapshots.

In the Funding Account, USDT staked in Launchpool and Bybit Savings will be automatically counted toward your wallet balance snapshots. USDT staked in other products on Bybit Earn (e.g., Dual Asset or Liquidity Mining) will not be included.

In the Derivatives Account, the wallet balance will be counted. The wallet balance may be affected by your realized PnL.

Your daily average balance snapshot and daily Spot trading volume for the current day will be updated at 3AM UTC on the next day.

2. Subscription Period: Apr 3, 2024, 3:30AM UTC – Apr 3, 2024, 10:59AM UTC

If you've chosen the subscription: You must click on the Commit Now button to commit a certain amount of MNT during this period. The minimum amount required is 50 MNT. You can subscribe multiple times.

If you've chosen the lottery: You must click on the Commit Now button to commit 100 USDT for the lottery. Each participant can earn up to four (4) tickets based on their Spot trading volume during the Snapshot Period.

The winning probability of each Lottery Ticket = (Total number of winning tickets/Total number of Lottery Tickets for this Launchpad project) * 100%. If you hold the maximum number of four (4) tickets, you’ll have four (4) equal chances of drawing a winning number. For example, if you have four (4) tickets and two (2) of them were selected as winning tickets, you will receive allocations for two (2) tickets.

The MNT 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 tokens.

3. Distribution Period: Apr 3, 2024, 11AM UTC – Apr 3, 2024, 11:59AM UTC

For token allocation subscribers: Your final token allocation = (Amount of MNT you've committed/Total amount of MNT committed by all participants) * Total amount of new tokens allocated for the project.

Based on your final token allocation result, the corresponding MNT equivalent will be deducted from your committed amount, while your new token allocation will go to your Spot Account (or Unified Trading Account), and the remaining MNT will be credited back to your Funding Account.

Please note that the maximum amount of new tokens you can receive has a hard cap. The amount exceeding that limit will be allocated to participants who haven't reached this cap.

For Lottery Ticket holders: Each winning ticket will grant the holder an allocation of the project token. The new tokens that the winners will receive will go to their Spot Account (or Unified Trading Account with UTA upgrades), while the remaining committed amount, if any, will be credited back to their Funding Account. If you don't win, the 100 USDT you've committed will be credited back to your Funding Account.

4. VELAR/USDT Launch: Apr 3, 2024, 12PM (noon) UTC

The Spot pair of the new token will be live for trades at this time, if liquidity conditions are met.

More Ways to Earn

🎉 Event 1: [New Users Exclusive] Token Splash/Deposit and Grab a Share of 20,000 USDT

Event Period: Apr 3, 2024, 12PM (noon) UTC – Apr 17, 2024, 8:59AM UTC

Before you get started, click the Register Now button below to register for the event and be eligible for rewards.

Here's how it works: Complete two (2) simple steps during the event period to earn 20 USDT.

Step 1: Sign up for a Bybit account and complete Identity Verification Lv. 1.

Step 2: Accumulate a deposit volume of 300 VELAR in your Bybit account during the event period, OR deposit 100 USDT and buy any amount of VELAR via your first trade using your Bybit account.

Rewards are limited to 1,000 new users on a first-come, first-served basis.

Terms & Conditions:

- Users from the United Arab Emirates are not eligible for all the events.

- All participating users must strictly abide by the Bybit Terms of Service.

- 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.

- Bybit reserves the right of final interpretation of the Terms and Conditions. If you have any questions, please contact our Customer Support team.