KEY TAKEAWAYS
- Bybit will list the LAVA token on its Spot trading platform, with deposits starting January 8, 2025, and trading available from January 9, 2025.
- LAVA will be traded on the Arbitrum network, and Bybit is launching events with a prize pool of 1,860,000 LAVA tokens to celebrate the listing.
- The LAVA token is crucial for the Lava Network, managing blockchain traffic and generating significant on-chain revenue since its Mainnet pre-launch.
Bybit has announced the upcoming listing of the LAVA token on its Spot trading platform. The listing will follow a structured timeline, with LAVA deposits opening on January 8, 2025, at 10 AM UTC, the listing itself occurring on January 9, 2025, at 10 AM UTC, and withdrawals becoming available on January 10, 2025, at 10 AM UTC. All transactions will be facilitated through the Arbitrum network.
In addition to the listing, LAVA will be accessible for trades via Spot Grid Bots once it is listed. Bybit is also launching two special events to celebrate the listing, offering users the chance to earn from a combined prize pool of 1,860,000 LAVA tokens.
Details of the LAVA Prize Pool Events
The first event, titled “Token Splash — New Users Exclusive,” is designed for new users who register for the event. It runs from January 8, 2025, at 10 AM UTC to January 22, 2025, at 9 AM UTC. Participants must sign up on Bybit, complete identity verification, and either accumulate a deposit volume of at least 1,200 LAVA or deposit 100 USDT and trade 100 USDT worth of LAVA. The first 4,333 new users to complete these steps will each receive 300 LAVA tokens.
The second event, “Token Splash — Trade to Earn,” is open to all users who register. During the same event period, participants must trade at least 200 USDT worth of LAVA on Spot to earn a share from a 560,000 LAVA prize pool. The rewards are capped at 6,100 LAVA per user, and the more a user trades, the larger their share of the prize pool.
Understanding the LAVA Token
The LAVA token is integral to the Lava Network, which coordinates on-chain traffic by directing it to the fastest and most reliable data providers across multiple blockchains. Since its Mainnet pre-launch in August, the Lava Network has generated over $3.5 million in on-chain revenue. It manages traffic for over 40 chains, serving more than one million daily users and thousands of decentralized applications (dApps).
Chains and dApps such as NEAR, Starknet, Filecoin, and Axelar utilize the Lava Network, compensating LAVA stakers and data providers with over $1 million. LAVA token holders have the ability to influence traffic direction, effectively owning the “roads” that manage blockchain traffic.
For more details on the LAVA listing and events, visit the official announcement here.
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