Thetanuts Finance is a decentralized on-chain options protocol focused on altcoin options, allowing users to go long or short on on-chain options via an intuitive trading interface.
On May 13, 2024, Bybit announced the IDO Round of the Tethanuts Finance project with a total allocation of 66,660,000 tokens. There are several stages of the round such as:
Reveal and Purchase Period (May 20, 2024, 10:00AM UTC to May 21, 2024, 10:00AM UTC).
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To participate in Thetanatus Finance IDO by Bybit, users must have a Bybit Wallet (or 3rd party Wallets such as WalletConnect, Phantom and Metamask) with a balance of at least 400 USDC (Ethereum Chain). In a case when participants do not have this balance at the moment of the Snapshot Period, the result will be a disqualification.
There are 4 steps to participate in Bybit IDO:
Go to the Thetanuts Finance IDO round page. After that, click on Subcribe on IDO, and you will receive your ticket number.
Attention: Please prepare at least 400 USDC to redeem this IDO token – it will be used to redeem your IDO tokens in the event that your ticket gets selected in the lottery. You can deposit 400 USDC via your Bybit Funding Account, External Wallet (only assets from Ethereum) or “Buy USDC” via Lite Swap Trading Method.
After successful subscription, you will receive 1.0 ticket. Earn more tickets by completing tasks that are proposed by Bybit:
Hold min. 400 USDC (Ethereum Chain), and up to three (3) snapshots will be taken per day during the Snapshot Period from 05-17 10:00 UTC to 05-20 10:00 UTC. Failure to maintain this balance during the Snapshot Period will result in ineligibility.
There is a recommendation to deposit funds in advance as it may take about eight (8) hours for your status to update. You can deposit funds via an external wallet or transfer from other Bybit accounts. Alternatively, you can buy USDC by clicking on the "Buy USDC" button to participate in trading on the Bybit Spot market.
The Bybit Web3 IDO uses a smart contract to randomly select lottery tickets, ensuring that all participants have a fair chance of winning the token distribution. Smart contracts will randomly select 2000 winners who subscribed for the Thetanuts Finance’s IDO.
During this period, participants can reveal whether they have won a winning ticket. Once the winning tickets have been revealed, users will be able to purchase 100 USDC worth of tokens.
Click on the "Click to Reveal Ticket" button.
When the redemption period starts, make sure that you have enough or USDC (ETH chain) in your Bybit wallet to redeem the tokens.
Then make sure all the transaction details are correct and click on the Confirm button. You can click on View Assets to verify the tokens you are claiming in your Bybit wallet.
For more information about IDO rounds on Bybit, click here.
Subscription Period (05-13 10:00 - 05-17 10:00 UTC);
Snapshot Period (05-17 10:00 - 05-20 10:00 UTC);
Lottery Period (05-20 10:00 - 05-20 10:15 UTC);
Redemption Period (05-20 10:00 - 05-20 10:15 UTC).