Izumi Finance has been launched by Bybit (IZI). To issue IZI, the exchange will use the Launchpad subscription format. The duration to record user BitDAO (BIT) balances in Spot Account and ByFi Account will be 5 days.
What is izumi Finance?
izumi Finance is a liquidity as a service (LaaS) platform that includes Uniswap V3 and a built-in multi-chain dex. izumi’s LiquidBox, allows protocols to distribute incentive prizes in specific price ranges, improves incentive efficiency. Meanwhile, capital efficiency can help liquidity providers earn higher trading fees and receive more incentives from linked protocols. Stablecoin pools, for example, only pay out incentive payments within a specific price range (0.99,1.01).
Izumi is solving the “pool 2 dilemma” (high APR liquidity mining incentives frequently result in strong inflation and sell pressure in pool 2) problem by providing structured-incentive and auto-rebased modules, which can attract additional liquidity with a low emission rate for protocols while allowing liquidity providers to mine non-permanent lost liquidity.
IZI Token Details
Name: izumi finance (IZI)
• Total supply: 2,000,000,000 IZI
• Total allocation: 10,000,000 IZI (0.5% total offer)
• Maximum CAP per user: 10,000 IZI
• Price: 1 IZI = $ 0.04 (The price between BIT and IZI will be confirmed before the registration period)
• Format: Register
• Commitment token: BitDAO (BIT)
How does it work?
Snap Shot: Over the 5-day period, the daily average amount of BIT in your Spot Account and ByFi Account will be recorded through hourly snapshots. Your BIT balance snapshot of the current day will be updated on the next day.
Registration Period (Commit): During this subscription period, you must click the “Commit Now” button to commit a specified number of BIT to the new project. The maximum amount of BIT you can commit is determined by the 5-day snapshot period’s daily average BIT balance in your Spot Account and ByFi Account.
Note: Until the final IZI distribution, the amount of BIT you’ve committed will be locked and unavailable for transfers, withdrawals, or trading.
(The amount of BIT you’ve pledged / total amount of BIT contributed by all participants) * total amount of IZI granted for the project Equals your final IZI allocation amount.
The necessary BIT equivalent will be taken from your pledged amount based on your final IZI allocation outcome, while your IZI allocation and the remaining BIT will be refunded back to your Spot Account.
Some of the tips to follow when getting ready for the project…
- Deposit or transfer BIT to your Spot Account
- Make your first Spot trade on Bybit to share a 250,000IZI prize pool.
- Mark your calendar for a subscription period.