Tokyo, Japan, April 25, 2024, Chainwire
Bybit, the leading cryptocurrency trading platform, hosts the Initial DEX Offering (IDO) for Slash (SVL), a decentralized payments protocol designed to transform the way merchants and consumers use digital tokens for transactions . Immediately following the conclusion of the IDO, the SVL token will be listed on the Bybit spot exchange and made available for trading on April 29, 2024, at 10:00 UTC.
To participate in the IDO, users must ensure they have a Bybit wallet with at least 300 USDC on the MANTLE chain and register between 10:00 UTC on April 22 and 10:00 UTC on April 26. The platform will take up to three daily snapshots to determine user eligibility.
The IDO is offering 26,315,800 SVL tokens at an introductory price of 0.0019 USDC per token, with 500 winning tickets in the token allocation lottery. Each winning ticket allows the holder to redeem SVL tokens worth 100 USDC from their Bybit wallet.
“Our highly anticipated IDO is a pivotal moment for Slash, representing a key milestone in our journey to completely reshape the decentralized payments landscape,” said Slash founder Shinsuke Sato.
“Our protocol not only simplifies transactions for users and online merchants, but also ensures that every participant in the ecosystem is rewarded with a comprehensive fee redistribution model.”
In addition to the initial DEX offering, Slash is strengthening its community engagement with a Genesis NFT campaign. Participants who deposit to Bybit using Slash before 11:59 p.m. UTC+9 on April 26 will receive a Genesis NFT, which qualifies them for an upcoming SVL airdrop. The snapshot for this campaign will take place on April 26 at 00:00 UTC+9.
Slash stands out by enabling seamless integration with third-party financial dApps and automating the token conversion process via smart contracts. This feature allows merchants to directly accept a wide range of crypto payments, while users can enjoy the convenience of making purchases with almost any digital token.
Slash is also committed to fostering a sustainable and participatory ecosystem by redistributing 100% of its protocol fees to symbolic stakeholders.
About Slash
SVL (Slash Vision Labs) is pioneering the transformation of the cryptocurrency payments landscape through its innovative ecosystem, built on the Mantle Network. Embracing decentralization and community empowerment, SVL redistributes 100% of protocol fees across the ecosystem, rewarding token players and promoting active participation. Slash offers two flagship products: Slash Payment and Slash Card. Since its launch in October 2022, Slash Payment has enabled over 4,000 merchants to seamlessly accept various tokens on any network as a payment method, processing over $180 million in transactions. Slash Card is the first-ever and only crypto credit card that fully complies with Japan's strict crypto and payment regulations. Bridging the fiat and crypto economies, Slash Card aims to integrate Japanese consumers, merchants, developers and institutions into the world of cryptocurrency seamlessly, providing unparalleled convenience.
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