ByVotes on Bybit: Uplifting the Power of Community for Emerging Blockchain Projects

DUBAI, United Arab Emirates, Nov. 12, 2024 — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce enhanced ByVotes features, further democratizing the space by empowering the community and builders. Offering ample benefits both for voters and for project teams, ByVotes gives users a more rewarding way to support projects they want to see on Bybit’s Spot exchange, while empowering budding crypto entrepreneurs. 

Trending on ByVotes right now is a call for community users to welcome the first Neiron on Ethereum, NERIOCTO. Voting is now open from Nov. 13 to Nov. 15 for NEIROCTO fans who want to help it reach “listed” status on Bybit’s Spot exchange. Voters who make the right call will also get to share a 113,982,762 NEIROCTO prize pool.

ByVote’s simple mechanisms and clear rewards system serve to encourage closer bonds between stakeholders in the crypto ecosystem and project teams working to make a difference with the power of blockchain. The new rendition of ByVotes has elevated the experience of both the voters and project teams. 

Enhanced features: 

• Target threshold: Each project propelled by ByVotes shall meet a specific target of number of votes. The added test raises the threshold of quality and helps the community assess market demands. Projects that prove their value by popular votes will be listed in Bybit’s Adventure Zone. 

• Vote and Earn: Users will be entitled to a corresponding number of votes to their holdings on Bybit, and if a project they support makes it to the Adventure Zone, the voters will share in the prize pool.  

• Referral: Voters can cast a wider net through referrals, by inviting others to sign up for a Bybit account and vote. 

With ByVotes, Bybit users have a say in lifting up projects that may be lacking in hype but rich in substance and potential. Bybit also endeavors to help independent projects in their infancy, often constrained by limited resources, achieve their marketing goals. 

By taking part in ByVotes, both projects that come to fruition and their supporters will get to unlock prize pools and share the rewards. 

“ByVotes is for the passionate and inquisitive. In crypto, there is a long tail of projects and products that meet the needs of every segment in our ecosystem,” said Joan Han, Sales and Marketing Director at Bybit. “Bybit is relying on community power to help us scout the most promising ones with growth potential, and the search comes with rewards all around for our users and partners.” 

ByVotes was initially launched in Feb. 2024 to support and attract innovative grassroot projects. The upgraded version adds dimensions to the listing criteria and introduces more community elements and rewards.