FAQ — ByStarter

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ByStarter is a token distribution platform that allows users to be among the first to invest in promising digital assets. While token listing is not guaranteed, ByStarter events typically feature early-stage projects that have undergone rigorous vetting and have not yet launched on any centralized exchange—though some may already have completed an Initial Exchange Offering (IEO). This guide provides a comprehensive overview of how ByStarter works, who can participate, and what to expect during each phase of the process.

What Is ByStarter?

ByStarter serves as a launchpad for innovative blockchain projects seeking early community support and funding. It enables qualified users to participate in token subscriptions before public trading begins. These offerings are designed for users who want early exposure to high-potential crypto ventures, often at favorable entry prices.

However, participation is not available to users from the following regions: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Iceland, Liechtenstein, and Norway — collectively known as the European Economic Area (EEA). Access for users from these regions is strictly prohibited.

Understanding Genesis Whitelist and Public Genesis Offers

There are two primary types of token subscription opportunities on ByStarter:

Genesis Whitelist Offer

This exclusive offering is only available to users who have been added to the project’s whitelist. To qualify:

Only verified whitelist participants can contribute their tokens during the registration period.

Public Genesis Offer

This option opens participation to all eligible Bybit users, provided they:

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Who Is Eligible to Participate?

To take part in a ByStarter event, users must:

Important Notes:

The Three Main Phases of ByStarter

Each ByStarter event follows a structured timeline:

1. Registration Period

During this phase:

2. Distribution Period

No action is needed from users. The system randomly selects winners for public offers. In whitelist offers, all eligible participants receive allocations.

3. Results Announcement

Winners are notified automatically. Tokens are credited to successful participants’ funding accounts. Unsuccessful contributors receive refunds of their submitted tokens.

Additional Project-Specific Phases

Some projects may include extra stages:

Lock-Up Period

A predetermined timeframe after the offering during which project token holders cannot sell or transfer their tokens. This helps maintain liquidity stability while the project builds its user base.

Vesting Period

Tokens allocated to team members, advisors, or early investors are locked for a set duration and released gradually over time to ensure long-term alignment.

How to Complete Whitelist Verification

Verification methods vary by project. Common approaches include:

Wallet Verification

The project collects whitelist wallet addresses via its community channels before the event and shares them with Bybit. To verify:

  1. Click "Check Status" on the project’s target page.
  2. Read and accept the ByStarter agreement.
  3. Connect your whitelisted wallet.
  4. The system automatically confirms eligibility upon connection.

UID Verification on Bybit

The project gathers eligible user UIDs through its community and submits them to Bybit. To complete:

  1. Log in using the whitelisted UID.
  2. Click "Check Status" on the project page to finalize verification.

Key Notes:

Frequently Asked Questions

Q: Can I submit tokens multiple times during registration?
A: No. Each user can contribute only once per registration period. Double-check your contribution amount before submitting.

Q: Are contributed tokens locked after submission?
A: Yes. Submitted tokens are locked and cannot be transferred, withdrawn, or sold until the end of the Distribution Period.

Q: What happens during the Distribution Period?
A: The system selects winners. For whitelist offers, all participants receive tokens. For public offers, outcomes include full allocation, partial allocation, or no allocation (with full refund).

Q: What are the minimum and maximum token amounts I can contribute?
A: Minimums are uniform across users (e.g., 100 USDT). Maximums depend on VIP level:

Exact limits vary per project.

Q: Which coins are supported for contribution?
A: Currently only USDT and USDC are accepted. Support for additional tokens may be added in the future.

Q: Can sub-accounts participate?
A: No. Only main Bybit accounts are eligible.

How to Join a ByStarter Event

Follow these steps to participate:

  1. Ensure eligibility: Have a verified Bybit account with completed KYC.
  2. Review project requirements: Country restrictions and token thresholds vary.

  3. During registration:

    • Choose your subscription option (if multiple are available).
    • Complete any project surveys and confirm participation terms.
    • Submit your token contribution (one-time only).
  4. Wait for results: The system will randomly select winners during the distribution phase.
  5. Receive tokens or refund: Winners get new project tokens; others receive their original tokens back.

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Core Keywords

ByStarter, token distribution platform, Genesis whitelist offer, public Genesis offer, early-stage crypto projects, KYC verification, token lock-up period, vesting schedule

Final Reminder

Each user may participate with only one account. Attempting to use multiple accounts violates Bybit’s Terms of Service and may result in immediate suspension of all associated accounts and disqualification. Bybit reserves the right to cancel participation for any account suspected of fraud or misconduct.

For detailed risk disclosures related to ByStarter events, visit: ByStarter Risk Disclosures

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