Cryptocurrency exchange Bybit aims to enhance the decentralized finance (DeFIi) sector with its upcoming Initial DEX Offering (IDO) for Nulink (NLK).
Slated for May 12, this event will mark the launch of the NLK token, aiming to raise 200,000 USDC at 0.05 USDC per NLK.
Bybit Prepares IDO for Nulink
The IDO on Bybit aims to enhance data privacy across the dApps ecosystem. Nulink promises to bolster security through an exclusive API that supports developers and companies in crafting applications within a privacy-focused framework. This approach ensures that user data remains protected, fostering a secure environment for technological advancement.
Interest in the IDO has surged, with 14,924 participants already registered. To partake, users must hold at least 300 USDC in their Bybit wallets, though restrictions apply to institutional and certain international users. The IDO process comprises several phases: subscription, snapshot, lottery, and redemption, concluding on May 16.
Zero-knowledge proof is at the core of Nulink’s technology, a cryptographic protocol allowing enhanced security and encryption without compromising private data. This feature is pivotal in maintaining trust and integrity within the dApps marketplace.
“Bybit Web3 is excited to offer our community the opportunity to participate in the IDO for Nulink, a project that is redefining data privacy for DApps. NuLink’s innovative solutions empower developers to build secure and trustworthy applications, fostering a more robust and user-centric Web3 ecosystem,” said Emily Bao, Bybit Web3 Evangelist.
Read more: What Is an IDO? Initial DEX Offering Explained
With this strategic IDO, Bybit supports the growth of Nulink and reinforces the growing dApps market.
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