Bybit, a leading global Web3 platform, has announced the launch of an Initial DEX Offering (IDO) for LayerNet ($NET), a novel Telegram-based play-to-earn (P2E) game. This marks the platform’s inaugural IDO following the recent overhaul of its offering processes, including a unique refund policy and enhanced game and reward systems.
Integrating Gaming with Telegram
LayerNet stands out from the competition because it incorporates a gaming layer directly into Telegram. This allows users to easily engage with its main game, NetCoin. Players can compete against AI in simple, action-based mini-games using $NET, the ecosystem’s primary utility token, and earn rewards.
Alex, the COO of LayerNet, highlighted the project’s broader ambition to expand its framework: “Beyond NetCoin, we plan to develop a secondary layer network (L2) for the TON blockchain and create a software development kit (SDK) for game developers. This will foster deeper integration with blockchain features, enhancing our gaming offerings.”
IDO Timeline and Participation Details
The IDO event is scheduled to run from July 18 to July 26, 2024. It will have various stages, including a subscription period, a lottery draw, and a first-come-first-serve round. Participants require a Bybit Cloud Wallet and must ensure sufficient gas fees for transactions.
Token specifics reveal that 15,000,000 $NET tokens have been allocated for the Bybit IDO out of a total supply of 800,000,000. The $NET token will operate on the Ethereum (ETH) blockchain, ensuring robust support and widespread accessibility.
Interested users are invited to visit Bybit’s official Web3 page for detailed eligibility requirements and to engage with the community and support team for any inquiries.