DUBAI, UAE, July 18, 2024 -- Bybit, the world's second-largest web3 platform by trading volume, today announced an upcoming Initial DEX Offering (IDO) for LayerNet ($NET) on its Web3 platform. This will be Bybit Web3's first IDO after successfully refreshing and launching its IDO 2.0 offering, with an industry-first refund policy and new game and reward mechanics.

LayerNet: Building the Gaming Layer on Telegram

LayerNet introduces an innovative concept - a gaming layer built directly on Telegram. Through Netcoin, their flagship play-to-earn (P2E) game, users can compete against AI opponents and earn rewards. $NET serves as the primary utility token within the LayerNet ecosystem, powering in-game transactions and functionalities.

"LayerNet is committed to building the Gaming Layer within the TON ecosystem, aiming to provide users with a unique gaming experience. Its flagship product, NetCoin, is a mini-game that allows users to easily earn rewards with a click, gaining points through simple actions."

"NetCoin is just an appetizer. LayerNet's future plans include building the L2 network for TON and designing an SDK for game development. This will enable deeper integration of the TON blockchain features with Telegram's extensive user base in gaming," said Alex, COO of LayerNet.

IDO Stages (All timings are in UTC)

• Subscription Period: 18 July 2024, 10AM to 25 July 2024, 10AM
• Lottery Draw: 25 July 2024, 10AM to 25 July 2024, 10.15AM
• Redemption: 25 July 2024, 10.15AM to 26 July 2024, 10AM
• First Come First Serve Round (FCFS): 26 July 2024, 10.10AM to 26 July 2024, 11.10AM

Token Details

• Token: $NET
• Total Allocated to Bybit IDO: 15,000,000
• Total Supply: 800,000,000
• Chain: ETH

Eligibility Requirements

• Users must hold a Bybit Cloud Wallet to participate in the IDO. Please ensure that there is enough gas fee for transactions.
• Maximum number of winners: 1,500

For detailed information on the IDO process and eligibility requirements, please visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido

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About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 10 million wallet users, over 10 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 33 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.

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