In an exciting development, NuLink has made its debut on the Bybit Web3 IDO platform, with the subscription phase now open until May 13.
In Brief
The Bybit Web3 IDO platform has introduced NuLink, a company dedicated to developing technology that ensures privacy for decentralized applications (dApps), thus providing investment opportunities for interested parties.
This platform serves as a launchpad for projects looking to conduct Initial DEX Offerings (IDOs), an innovative way to raise funds. Bybit Web3 IDO introduced NuLink NuLink (NLK) focuses on providing secure technology for dApps, thereby granting access to investors looking for privacy-preserving solutions.
An Initial DEX Offering (IDO) is essentially the process of launching a new token by conducting an initial fundraising event on a decentralized exchange platform.
According to the official communication, the IDO subscription will be available starting from 10:00 UTC on May 9 and will close at 10:00 UTC on May 13. Once this phase concludes, a snapshot phase will follow from 10:00 UTC on May 13 to 10:00 UTC on May 16. On May 16, the platform will host a lottery that will randomly select 2,000 participants to win tokens. The winning participants can then redeem their tokens from 10:15 UTC on May 16 through to 10:00 UTC on May 17. Those lucky enough to win in the lottery can check their allocation status and claim their tokens before the redemption deadline.
All entrants will have a fair shot at winning in the allocation lottery. Participants who draw winning tickets can convert their allocations, denominated in USDC, from their Bybit Wallets into IDO tokens. The total supply of NLK tokens amounts to 4,000,000, with 2,000 winning tickets up for grabs, allowing each winner to redeem 100 USDC. As it stands, there are 7,293 participants registered. USDC 🔹 Subscription period: From May 9 at 10 AM UTC to May 13 at 10 AM UTC.
What Is NuLink?
Additionally, NuLink Snaps acts as a sophisticated decentralized data manager customized for Web3 dApps, offering smooth integration with cryptocurrency wallets. zero-knowledge In a recent funding round, NuLink successfully secured $1.6 million, led by DWF Labs among other investors. This success comes on the heels of a significant fundraising initiative via a Liquidity Bootstrapping Pool (LBP) on Fjord, where they amassed approximately $5.3 million. To date, NuLink has raised a total of $11.4 million.
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Alisa, a passionate journalist at MetaversePost, specializes in the fields of cryptocurrency, zero-knowledge proofs, investments, and the vast universe of Web3. With a sharp focus on emerging trends and technologies, she provides in-depth analysis to keep readers well-informed and engaged in the fast-changing landscape of digital finance.
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