What is ByStarter?

ByStarter is a token sale platform where early adopters invest in the best digital assets, but the token listing is not guaranteed. ByStarter usually caters to early-stage projects that have been strictly reviewed but not listed on any (centralized) exchange, however, we also accept IEO-already projects to raise funds.

 

Who is eligible to participate in ByStarter?

Users who have completed Individual KYC Lv.1 or Business KYC requirements are eligible. Please note that users from restricted countries are not eligible to participate in ByStarter.  

KYC verification must be completed before the subscription period starts. You can click here to complete the verification.

 

What are the phases of ByStarter?

There are four main periods:

• Warmup Period
• Subscription Period
• Allocation Period
• Results Announcement

• Lock-up period is a pre-planned span of time, usually after a token sale when token holders of a cryptocurrency project are prohibited from selling their tokens. The Lock-up Period helps projects avoid liquidity problems while they are still in the process of strengthening their supporter base.
• Vesting period occurs when tokens are locked for project members and early investors for a specific period of time, and released afterward.

 

Can I subscribe multiple times during the subscription period?

No. Each user can only subscribe once during the current unlock period. Please confirm the committed amount carefully.

Note: If you intend to upgrade your VIP level, please do so before subscribing. As each user can only subscribe once during the current unlock period, upgrading to a higher VIP level after subscription will prevent users from subscribing again.

 

Will the token I've committed be locked?

Yes. The token that you've committed to the project will be locked and cannot be transferred, withdrawn, or traded until the end of the Allocation Period. However, do note that there will be three different scenarios of  distribution results.

A. Failed to receive allocation

• Non-winning participants will get back their full amount of the committed token

B. Receive full allocation

• Upon winning, all committed tokens will be exchanged for the equivalent value of the new project tokens
• Based on the final allocation result, the committed token will be deducted, while the new project tokens will be allocated to your Funding Account
• For example, 1 Token β is worth 2 USDT. If Trader A commits 100 USDT and he is the winner, then Trader A will receive 50 Token β in exchange.

C. Receive partial allocation

• For each sale option, there is always a user who only gets a partial allocation.
• Upon winning the partial allocation of new project tokens, part of the committed tokens will be exchanged for an equivalent value of new project tokens. The corresponding amount of committed token will be deducted from your committed amount, while the new project tokens allocated to you and the remaining amount of committed token will be credited to your Funding Account.
• For the example below, we assume 1 USDT = 1β. Suppose the total allocation of the project is 1000β. During the allocation period, 10 winners are selected, the total subscription of the first 9 winners is 900 USDT, and the last user subscribes 150 USDT. The first 9 winners will receive the entire allocation (thus the total is 900β).
• Although the 10th user subscribed for 150 USDT, since there is only 100 β quota left from the project allocation, therefore he will only receive a partial allocation of 100β, and the remaining 50 USDT will be returned to his Funding account.

 

What's the minimum and maximum amount of tokens I can commit?

Kindly note that the minimum committed token amount is the same for all users. However, the maximum committed token amount will differ according to each user’s account tier. As the VIP level increases, so does the maximum number of tokens a trader can commit.

The maximum committed token amount is calculated as follows:

VIP 1 & 2: The Maximum committed token amount is 200% of Non-VIP’s maximum committed token amount.

VIP 3 & 4: The Maximum committed token amount is 210% of Non-VIP’s maximum committed token amount.

VIP 5 & Supreme VIP & Pro: The Maximum committed token amount is 220% of Non-VIP’s maximum committed token amount.

 

Please refer to the table below as an example. The actual range of tokens to commit varies from project to project.

 

Which coin type is supported for committing?

Only USDT and USDC tokens are supported to commit to our current project. However, the team is working on increasing and supporting more coins in the future.

 

Can I commit to multiple projects during the subscription period?

The option of committing varies according to the project. Some projects allow committing to a single option, while others allow committing to all options. Once committed, users are not allowed to make amendments.

 

How do I participate in ByStarter?

• Completed Individual KYC Lv1. or Business KYC requirements 
• Each project has different requirements for restricted countries. Please refer to the ByStarter landing page for more information.

• All eligible users who meet the basic requirement above can participate
• Only whitelisted users can participate
• All eligible users excluding whitelisted users can participate

• Each trader has to answer a series of simple questions (approximately 8) and get all answers in order to proceed. 
• Select an option that you would like to commit

—  The option of committing varies according to the project. Some projects allow committing to a single option, while others allow committing to all options. Once committed, users are not allowed to make amendments.

— Non-VIP users, users of different VIP levels, and whitelisted users can commit different amounts of tokens

• Commit the token

— The token that you've committed to the project will be locked and cannot be transferred, withdrawn or traded until after the Allocation Period.

• You're all set. Just have to wait for the draw.

• Upon full allocation winning, all committed tokens will be exchanged for an equivalent amount of the new project tokens
• Upon a partial allocation, the corresponding amount of committed tokens will be deducted from your committed amount, while the new project tokens allocated to you and the remaining amount of committed tokens will be credited to your Funding Account.

— Non-winning participants will get back the full amount of the committed token

• After the Results Announced Period, the token will be unlocked in batches and it will be airdropped to winning users accordingly after the unlocking period.

 

Disclaimer:

Please note that each user shall only register one account on Bybit. Bulk-account registrations to farm additional allocation would be a violation of the Bybit Terms of Service and may lead to immediate termination of all associated accounts and eligibility. To comply with local jurisdictions, Bybit reserves the absolute right to disqualify or take any appropriate actions against accounts associated with fraudulent activities, including immediate termination of any accounts and liquidation of any open positions.

 

Kindly refer here for more information about the risk disclosure of ByStarter.