Wednesday, February 19, 2025

Bybit Enhances ByVotes to Empower Community and Blockchain Projects

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KEY TAKEAWAYS

  • Bybit enhances its ByVotes feature to empower the community and emerging blockchain projects.
  • The upgraded ByVotes introduces a target threshold and ‘Vote and Earn’ features to increase project quality and community engagement.
  • ByVotes allows users to support projects like NEIROCTO on Ethereum, offering rewards for successful votes.
  • Bybit aims to assist independent projects in achieving marketing goals through community-driven initiatives.

Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has announced enhancements to its ByVotes feature. This initiative aims to further democratize the cryptocurrency space by empowering both the community and emerging blockchain projects. The announcement was made here.

ByVotes offers significant benefits for both voters and project teams. It provides users with a rewarding way to support projects they wish to see listed on Bybit’s Spot exchange, while also empowering budding crypto entrepreneurs. Currently trending on ByVotes is a call for community users to support the first Neiron on Ethereum, NERIOCTO. Voting is open from November 13 to November 15, allowing NEIROCTO supporters to help the project achieve ‘listed’ status on Bybit’s Spot exchange. Successful voters will share a prize pool of 113,982,762 NEIROCTO tokens.

Enhanced Features of ByVotes

The upgraded ByVotes introduces several new features designed to foster closer connections between stakeholders in the crypto ecosystem and project teams. One of the key enhancements is the target threshold, which requires each project to meet a specific number of votes. This added criterion raises the quality threshold and helps the community assess market demands. Projects that demonstrate their value through popular votes will be listed in Bybit’s Adventure Zone.

Another feature, ‘Vote and Earn,’ entitles users to a number of votes corresponding to their holdings on Bybit. If a project they support reaches the Adventure Zone, voters will share in the prize pool. Additionally, the referral feature allows voters to expand their influence by inviting others to sign up for a Bybit account and vote.

Community Empowerment and Rewards

ByVotes is designed to give Bybit users a voice in promoting projects that may lack initial hype but possess substantial potential. Bybit aims to assist independent projects in their early stages, often constrained by limited resources, in achieving their marketing goals. By participating in ByVotes, both successful projects and their supporters can unlock prize pools and share rewards.

Joan Han, Sales and Marketing Director at Bybit, stated, “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. 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.”

Initially launched in February 2024, ByVotes was created to support and attract innovative grassroots projects. The upgraded version adds new dimensions to the listing criteria and introduces more community elements and rewards.


Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
Neel Kapoor
Neel Kapoor
Neel Kapoor is a dedicated cryptocurrency enthusiast and blockchain expert at Coinsholder.com. With over a decade of experience, Neel offers insightful analysis and commentary on the latest trends and innovations in the crypto space. His clear and concise writing makes complex topics accessible to all readers.

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