Bybit Launchpool: Everything You Need to Know

What Is Bybit Launchpool?

Bybit Launchpool allows you to stake and earn tokens for free. The tokens you’ve staked can be unstaked anytime, and the number of tokens you earn depends upon the number of tokens you stake in the pool. You may simultaneously earn your staking currency, new tokens and a USDT bonus. 

How Does It Work?

Staking Limits

As mentioned above, the returns from Bybit Launchpool may include a USDT bonus, as well as your new tokens and original stake. Let’s take a look at the staking limits. 

The total prize pool amounts to $1,700,000, consisting of 300,000 WOO, 80,000 BIT and 400,000 USDT. The USDT bonus can only be used in derivatives trading. 

Each individual pool has a maximum staking amount which is shown on the confirmation page. 

How to Calculate the APY for Each Pool

Let’s take an example: you’ve chosen to participate in Bybit’s WOO Launchpool by staking your BIT. The earnings are stated as such.

The APY return is 13.09% (you can see the breakdown when you hover over the icon). The total number of staked tokens will determine how much you’ll receive from the pool. Your daily yield depends upon the number of BIT and/or new tokens you’ve staked to each pool, in proportion to those staked to each pool by the respective participants. 

Once staked, your daily yield will be automatically calculated.

When You Stake BIT:

Your daily yield (BIT and WOO) = (amount of BIT you’ve staked to the BIT pool ÷ total number of BIT staked to the BIT pool by the respective participants) × daily BIT prize pool + (amount of BIT you’ve staked to the BIT pool ÷ total number of BIT staked to the BIT pool by the respective participants) × daily WOO prize pool

When You Stake WOO:

Your daily yield (WOO and BIT) = (amount of WOO you’ve staked to the WOO pool ÷ total number of WOO staked to the WOO pool by the respective participants) × daily WOO prize pool + (amount of WOO you’ve staked to the WOO pool ÷ total number of WOO staked to the WOO pool by the respective participants) × daily BIT prize pool

If You Stake Both BIT and WOO;

Your yield will be the sum of the two calculations above.

Calculations for your yield will start on the next day (T+1) after you’ve staked BIT and/or the new token and will be deposited daily to your Bybit Earn Account starting one day after the calculation period (T+2). No yield will be generated on the day you unstake your staked tokens. Your yield will be refreshed daily at 00:00AM UTC.

Example 

Let’s say that Alice stakes 1,000 BIT to the BIT pool and 3,000 WOO to the WOO pool on November 10, 2021. 

The total number of BIT and WOO staked by the participants of each pool on that day is 100,000 BIT and 200,000 WOO. 

Starting at 00:00AM UTC on November 11, 2021, Alice’s daily yield will begin to be calculated automatically. Shortly after 00:00AM UTC on November 12, 95.24 BIT and 357.15 WOO will be deposited to her Bybit Earn Account, assuming that Alice doesn’t unstake her staked tokens before this time.

Alice’s yield from the BIT pool:

38.10 BIT and 142.86 WOO = (1,000 BIT ÷ 100,000 BIT) × (80,000 BIT ÷ 21 days) + (1,000 BIT ÷ 100,000 BIT) × (300,000 WOO ÷ 21 days)

Alice’s yield from the WOO pool:

57.14 BIT and 214.29 WOO = (3,000 WOO ÷ 200,000 WOO) × (80,000 BIT ÷ 21 days) + (3,000 WOO ÷ 200,000 WOO) × (300,000 WOO ÷ 21 days)

Alice’s total daily yield for November 10 amounts to 95.24 BIT and 357.15 WOO.

Alternatively, no yield will be credited to her Bybit Earn Account at 00:00AM UTC on November 12 if Alice decides to unstake all her staked tokens before this time. If Alice decides to unstake 1,000 BIT only, she’ll still receive 57.14 BIT and 214.29 WOO on November 12.

If Alice stakes an extra 1,000 BIT to the BIT pool on November 11, the yield she receives at 0:00AM on November 12 will still be 95.24 BIT and 357.15 WOO. The yield derived from her second staking will be credited to her Bybit Earn Account shortly after 00:00AM on November 13, 2021.

Please note that there may be delays in the depositing of yields earned. You will only receive a yield if it’s greater than or equal to $0.01 equivalent.

Is Bybit Launchpool Open for Everyone to Participate?

In order to participate in Bybit’s Launchpool, you must complete at least Level 1 KYC. You can do so as follows:

1. Sign up or log in to your Bybit account
2. Select Profile Account and Security
3. Click on Verify Now under Account Information > Identity Verification
4. Verify Level 1 Basic Verification

And you’re set to go!

How to Earn More

At Bybit, we like to equip our users with the right knowledge about our products before they make investment decisions. For Launchpool, we’re rewarding users when they complete a quiz (five questions).

For example:

Click on the Study Now button to check out the video and answer the questions on the Google form to win free WOO. Those who answer all five questions correctly will share a prize pool of 50,000 WOO. The cash reward will be credited automatically to your Bybit Spot Account within seven (7) working days after the Launchpool event ends.

If you’d like to share this amazing event on your social media platform, you get rewarded by doing so, too! Simply click on the Share Now button to share the Launchpool event via social media, and submit a screenshot or the URL connected to your post, using the Google form. All participants who meet the requirements will share a prize pool of 30,000 WOO. The cash reward will be automatically credited to your Spot Account within seven (7) working days after the Launchpool event ends.

Benefits and Risks of Launchpool

Benefits:

• Earn more coins (either in the same or another cryptocurrency) for free.
• Generate passive income.
• Gain exposure to new alternate crypto tokens.

Risks:

• Value of new coins isn’t guaranteed, due to exposure to exchange risk. 

The Bottom Line

We believe Bybit’s Launchpool is a great way to gain exposure to more and new crypto tokens. The prize pool is attractive, and the benefits significantly greater than the risks — so there’s no reason to sit out such great offers. Staked assets can be unstaked anytime, and you can rest easy knowing that your assets aren’t locked for a predetermined period. Yield will be calculated accordingly and returned to your Bybit Earn account.