How to Join Bybit Launchpool (My Experience and Earnings)
4 min read Β· Β· Korean original
Contents 5
Hello, this is Bitpunk. Today I'd like to explain how to join Bybit Launchpool and share my experience with it. Bybit Launchpool is an airdrop event that people often call a "generous" event, and it's very popular.
What Is Bybit Launchpool?
Bybit Launchpool is "an event where you deposit assets you already hold and receive new tokens as rewards."
For example, if you hold Mantle (MNT) or Tether (USDT) on the Bybit exchange, you can join Bybit Launchpool and earn an extra return of around 30β70% APR.
How to Join Bybit Launchpool
1. Create and Verify Your Account
First, you need a Bybit account. If you haven't signed up yet, use the link below. Once you sign up and complete identity verification, you can join Launchpool right away.
2. Go to the Launchpool Page
On the Bybit website, go to [Trade] β [SpotX] β [Launchpool] from the top menu.
On mobile, you can access it via [Home] - [More] - [SpotX] - [Launchpool].
You'll see a list of ongoing projects like the one below. Just pick the project you want and click the Register to Participate button.
3. Stake (Deposit) Your Assets
When you select the pool you want to deposit into, you'll see each pool's APR (annual percentage rate) and estimated rewards. Enter the amount you want to stake, then click the Stake to Earn button!
The assets you want to stake must be in your Funding account. If needed, first transfer assets between your Bybit accounts or deposit them from outside.
4. Check Your Rewards
Rewards are paid out automatically every day at around 9:00 AM Korea time (KST). You can check them in your Funding account, and rewards are only paid out once they reach $0.01 or more.
5. Unstake (Withdraw)
You can unstake at any time! Go to Staking Records, enter the amount you want to withdraw, and press the confirm button. Your assets will be returned immediately.
You can unstake your staked assets at any time. Once unstaking is complete, the assets go straight back into your Funding account.
How Bybit Launchpool Rewards Are Calculated
Launchpool rewards are calculated based on the amount you've staked relative to the total amount staked by all users. In other words, the fewer participants in a pool, the more rewards you can get.
Bybit Launchpool takes asset snapshots at random times every hour, and VIP users can get higher APR benefits than regular users.
My Bybit Launchpool Experience and Returns
The most recent Bybit Launchpool I joined was the SERAPH project. You could participate with three assets: $SERAPH, $MNT, and $USDT, and each pool had a different reward rate and level of competition.
The SERAPH pool had the highest APR, which made it attractive, but the $SERAPH token itself was so volatile that the risk was too high. So I chose not to join it.
On the other hand, the MNT pool, which I already held, had an APR of 35.2%, and the stablecoin USDT pool had an APR of 31.71%. Based on the pool caps, I staked 5,000 MNT and 2,000 USDT.
So how much did I earn from Launchpool? After participating for about 7 days, I received $SERAPH tokens as rewards worth about 0.1% of my staked amount per day.
Converted to dollars, that was about 7 USDT per day. In Korean won, it came to roughly KRW 100,000.
To sum up, you can think of it as staking about KRW 10 million in assets and earning around KRW 10,000 per day.
Wrapping Up
Bybit Launchpool is an opportunity to use your crypto assets to take part in new projects and gain extra value. If you have a Bybit account, keep following Bybit Launchpool news and don't miss out on the free coins they give away.
