- Bybit will be featuring Aurigami (PLY) on its Bybit Launchpad platform
- Aurigami is a money market protocol built on the Aurora blockchain platform
- The PLY token sale will be accessible on Bybit Launchpad through both the subscription and lottery models
Aurigami (PLY) will be featured on Bybit Launchpad
The Bybit cryptocurrency exchange has announced that Aurigami (PLY) will be the next project featured on their Launchpad token sale platform. Bybit Launchpad seems to be on a bit of a roll, as they recently also announced a token sale for ApeX Protocol (APEX).
Aurigami is a money market protocol built on Aurora. Aurora is an Ethereum Virtual Machine (EVM) – compatible blockchain that’s also compatible with the NEAR Protocol ecosystem. Aurigami allows users to get access to liquidity or earn interest by depositing their cryptocurrency holdings to the protocol. The PLY token serves as the governance token of the Aurigami protocol. The project has attracted notable backers like Dragonfly Capital, Polychain Capital, Alameda Research, Mechanism Capital and others.
200 million PLY tokens, which is 2% of the token’s total supply, will be distributed through Bybit Launchpad. PLY will be offered at the equivalent of $0.005 per token, although the exchange rate between BIT and PLY will be locked in at the start of the subscription period.
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The Aurigami (PLY) token sale will follow Bybit’s new Launchpad model, where eligible users can participate in two ways. The first way is the standard subscription method, where users with sufficient BIT balances can use their tokens to subscribe to the token sale. The second way is the new lottery model, where users commit 100 USDT to obtain a ticket to the token sale. Holders of winning tickets will receive 4,000 PLY tokens, and receive the remaining committed USDT tokens back. Users whose ticket wasn’t drawn will receive the full 100 committed USDT back.
For users who intend to participate through the BIT subscription method, Bybit will begin taking snapshots of BIT balances on April 30, and will be doing so until May 4. The subscription, distribution and listing phases of the token sale will be taking place on May 5. Users participating through the subscription method will be able to buy a maximum of 80,000 PLY tokens.
Here’s how the 5 most recent tokens that were featured on Bybit Launchpad are performing against their token sale price: