Bybit, a leading cryptocurrency trading platform, is set to host the Initial Decentralized Exchange Offering (IDO) for Slash Vision Labs (SVL), a decentralized payment protocol aimed at both merchants and consumers.
The IDO will conclude with the SVL token being listed on the Bybit spot exchange on April 29, 2024, at 10am UTC.
How to take part in the Bybit DEX offering?
To take part in the IDO, users need to have a Bybit Wallet with at least 300 USD Coin (USDC) on the MANTLE Chain and register between April 22, 10am UTC, and April 26, 10am UTC.
Bybit will conduct up to three daily snapshots during this period to determine users eligibility.
The IDO will offer 26,315,800 SVL tokens at a launch price of 0.0019 USDC per token.
There will also be 500 winning tickets in the token allocation lottery, each one allowing the holder to redeem SVL tokens worth 100 USDC from their Bybit Wallet.
The importance of the Slash IDO and the road forward
Shinsuke Sato, the founder of Slash, expressed excitement about the IDO, calling it a pivotal moment for the project:
“Our highly anticipated IDO is a pivotal moment for Slash, representing a key milestone in our journey to completely reshape the landscape of decentralized payments.”
In addition to the IDO, Slash is enhancing community engagement with a Genesis NFT Campaign.
Participants who deposit on Bybit using Slash by April 26, 23:59 UTC+9, will receive a Genesis NFT, qualifying them for an upcoming SVL airdrop.
The snapshot for this campaign will take place on April 26 at 00:00 UTC+9.
What does the Slash IDO mean for merchants?
Slash is known for facilitating seamless integration with third-party finance dApps and automating token conversion via smart contracts.
This allows merchants to accept a wide array of crypto payments directly, while users can enjoy the convenience of making purchases with almost any digital token.
Slash is also committed to fostering a sustainable ecosystem by redistributing 100% of its protocol fees back to token stakers.