Bybit has announced the upcoming Initial DEX Offering for Galaxis on its Web3 platform, with the snap period set for May 7-10 and the listing following immediately after.
Galaxis is a decentralized community platform with NFT collections, community governance, DAO features and a built-in royalties marketplace.

Bybit, one of the world’s top crypto exchanges, has announced the upcoming initial DEX offering (IDO) for Galaxis on its Web3 platform.

An IDO is a fundraising approach that, unlike an ICO, works with decentralized exchanges. IDOs list the tokens directly on the DEXes, and anyone can participate by contributing liquidity to the pool and receiving the new tokens in return.

The IDO subscription period kicked off on May 3 and runs until May 7, announced the exchange, which ranks in the top three for daily volume traded. It will be followed by a snap period that will run for three days before the reveal, purchase, and listing commence on May 10.

The new token will launch with the ticker symbol ‘GALAXIS,’ an update from the previous GLX symbol. The total supply of Galaxis will be capped at ten billion tokens.

Snapshot Starting Soon: @Galaxisxyz ($GALAXIS)

Total IDO Winner Pool: 2,000 Winners

Bybit Wallet: 300USDC (Ethereum Chain)

Subscription: May 3, 10AM UTC – May 7, 2024, 10AM UTC

Snapshot: May 7, 10AM UTC – May 10, 2024, 10AM UTC

GALAXIS/USDT Bybit Listing… https://t.co/GD4N1Exqt9

— Bybit Web3 (@Bybit_Web3) May 5, 2024

To participate, users must hold a Bybit wallet with a minimum of 300 USDC (on the Ethereum chain) throughout the snapshot period; subaccounts will not be eligible for this IDO. The IDO will have a maximum of 2,000 winners. Once the participants receive the tokens, they can redeem them but will have to cater for the blockchain gas fees themselves.

Galaxis and Web3’s vision align, making the partnership ideal for both, comments Bybit Web evangelist Emily Bao. She added:

At Bybit, we are firm believers in the transformative potential of Web3. By supporting visionary projects like Galaxis, we contribute to building a more connected and empowered future for blockchain communities. The Galaxis IDO aligns perfectly with our vision of fostering a thriving Web3 ecosystem that’s simpler, open and equal for all.

Galaxis is a no-code Web3 platform allowing users to develop personalized membership cards. Beyond the cards, users can create and monetize their communities, products or services. Some of its features include an NFT  platform where users can issue their own tokens and a built-in marketplace where users can trade tokens, cards and more.

With gaming as one of the blockchain sector’s most prominent applications, Galaxis allows users to play online tournaments, including multiplayer games, and even turn their membership cards into instant collective games.

 

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Filed under: Bitcoin - @ May 6, 2024 12:25 pm