Bybit has officially announced the addition of Xterio as its upcoming launchpad project, which permits users to secure MNT and USDT to obtain XTER rewards.

Cryptocurrency exchange Bybit has announced the listing of Xterio As part of the launchpad project, users can engage in token subscriptions and lotteries to earn XTER token rewards by locking their assets.

The launchpad will be accessible to participants from midnight UTC on January 3rd, continuing through until 11:59 PM UTC on January 7th. The subscription phase kicks off at 3:30 AM UTC on January 8th, wrapping up at 8:59 AM UTC. The allocation of tokens will begin shortly afterward, between 9:00 AM and 9:59 AM UTC on the same day.

To be eligible for the token allocation, participants must maintain a daily average holding of at least 50 MNT throughout the subscription period. The distribution of new tokens will depend on this average balance. For those interested in the lottery, a minimum daily average of 100 USDT in their wallet is required. Moreover, increasing trading activities can earn additional lottery tickets.

During the subscription timeframe, Bybit will take hourly snapshots of users' average MNT and USDT balances across diverse accounts, including the Funding Account, Spot Account, Derivatives Account, Unified Trading Account, and Inverse Derivatives Account. USDT locked in the Launchpool and Bybit Savings will automatically be considered, but assets staked in other Bybit Earn products, like Dual Asset or Liquidity Mining, won't count.

Balances from the Derivatives Account will factor into the calculations, adjusted according to realized profits and losses (PnL). Daily balance updates and Spot trading volume will be refreshed daily at 3:00 AM UTC.

Users wishing to subscribe should click the 'Commit Now' button and specify an amount of MNT during the subscription phase. The minimum commitment is set at 50 MNT, with options for multiple subscriptions. To join the lottery, participants need to commit 100 USDT. Each individual can acquire as many as four lottery tickets based on their Spot trading volume throughout the snapshot period. Once committed, the locked MNT or USDT will remain unavailable for transfer, withdrawal, or trading until all project tokens are distributed.

Following the completion of the token allocation, the equivalent amount of MNT committed will be deducted from the funds. The newly allocated tokens will appear in the user's Spot or Unified Trading Account, while any excess MNT will be returned to the Funding Account. For those holding lottery tickets, winning selections will result in a token allocation, credited to the Spot Account, and the remaining committed amounts will be refunded. If a user does not win the lottery, the 100 USDT will also be returned to the Funding Account.

What Is Xterio And XTER?

Xterio is an AI-powered gaming and blockchain platform Xterio aims to deliver cutting-edge gaming experiences on both ETH and BNB networks. This project, integrated within the Layer 2 ecosystem, currently supports five games, collaborates with over 70 partners, and caters to a burgeoning community of 8 million users. Notably, the project has secured over $80 million in funding from prominent investors like Binance Labs, Makers Fund, and DST Global Partners. The anticipated token for the platform, XTER, is set to have its token generation event (TGE) on January 8th. OP superchain For the launchpad, a total of 7.5 million XTER tokens will be available. Out of this, 3,750,000 XTER tokens are reserved for the MNT pool, allowing a maximum of 7,500 XTER tokens per subscriber. Additionally, another 3,750,000 XTER tokens are designated for the USDT lottery, giving each participant a guaranteed 375 XTER allocation, with 10,000 winning tickets up for grabs. The launch price for each XTER token has been established at 0.04 USDT.

The XTER token is scheduled to launch on Bybit at 10:00 AM UTC on January 8th, and deposits for the token will start opening at 10:00 AM UTC on January 7th. Withdrawal options will begin at 10:00 AM UTC on January 9th.

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