Bybit, a prominent cryptocurrency trading platform, is gearing up to host the Initial Decentralized Exchange Offering (IDO) for Slash Vision Labs (SVL), a decentralized payment protocol designed for merchants and consumers.
The IDO will come to a close with the SVL token being listed on the Bybit spot exchange on April 29, 2024, at 10am UTC.
To participate in the Bybit DEX offering, users must have a Bybit Wallet with a minimum of 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. Additionally, there will be 500 winning tickets in the token allocation lottery, with each ticket allowing the holder to redeem SVL tokens worth 100 USDC from their Bybit Wallet.
Founder of Slash, Shinsuke Sato, expressed his excitement about the IDO, describing it as a pivotal moment for the project. He mentioned that the IDO signifies a crucial milestone in their journey to revolutionize decentralized payments.
In conjunction with the IDO, Slash is increasing community engagement through a Genesis NFT Campaign. Participants who deposit on Bybit using Slash by April 26, 23:59 UTC+9, will receive a Genesis NFT, making them eligible for an upcoming SVL airdrop. The snapshot for this campaign will occur on April 26 at 00:00 UTC+9.
Slash is renowned for its seamless integration with third-party finance dApps and its ability to automate token conversion through smart contracts. This enables merchants to accept various crypto payments directly, while users can easily make purchases with virtually any digital token. Slash is also dedicated to creating a sustainable ecosystem by redistributing 100% of its protocol fees back to token stakers.
