Monster Galaxy on Bybit Launchpad – How to Invest in GGM IEO?

By January 18, 2022 No Comments

Monster Galaxy (GGM) is the latest blockchain project to be featured on Bybit Launchpad, a platform that provides Bybit users with an opportunity to gain early access to tokens from promising crypto projects. A total of 10 million GGM tokens at an initial sale price of 0.025 USD will be distributed to Bybit users.

Monster Galaxy is a blockchain-powered Play-to-Earn (P2E) video game inspired by fan-favorite classics such as Pokemon and Moster Hunter. Players are tasked with collecting monsters called Mogas, which can be used in PvE battles. Each Moga is tokenized and can be freely traded and exchanged among players in the form of non-fungible tokens (NFTs). The game’s native GGM token is used to incentivize player adoption and retention via in-game rewards. 

Here’s a timetable of important dates for the Monster Galaxy IEO:

Snapshot PeriodJanuary 13 (00:00 UTC)January 17 (23:59 UTC)
Subscription PeriodJanuary 18 (03:30 UTC)January 18 (10:59 UTC)
Distribution PeriodJanuary 18 (11:00 UTC)January 18 (11:59 UTC)
Launch PeriodJanuary 18 (12:00 UTC)/

How to invest in the Moster Galaxy (GGM) IEO on Bybit Launchpad?

Read along to learn how to participate in the Moster Galaxy sale on Bybit Launchpad. Keep in mind that participation in the IEO is limited to verified Bybit users who hold BitDAO (BIT) in their accounts.

1. Create an account on Bybit and complete KYC

In order to participate in the GGM IEO, you will first need to create an account on Bybit. You can skip this step if you are already a registered Bybit user.

Once you’ve completed the account registration process, you can proceed to the account verification procedure. Bybit offers two verification tiers, which primarily differ in the amount of Bitcoin you can withdraw. Do note that both KYC levels unlock access to Launchpad functionality.

How to Pass KYC on Bybit?

Once you’ve supplied the required personal information and completed the KYC process, you can proceed to the Launchpad section, which can be found by navigating to the bottom of the “More” drop-down menu.

2. Select Monster Galaxy IEO

Locate Monster Galaxy from the list of ongoing and finished Launchpad projects. The most recent project should typically be listed at the top of the site.

3. Moster Galaxy IEO requirements and token distribution

Bybit users get a chance to take part in public sales by committing an amount of BIT that will be used to buy new tokens as soon as they are first available on the exchange. The amount of new tokens a user receives in the sale is directly proportional to the amount of BIT committed. You will need at least an average of 50 BIT in your Spot, ByFi, or Derivatives account during the 5-day snapshot period, to be eligible for the public sale.

Bybit has set a hard cap per user at 14,000 GGM (350 USD) in order to ensure an equitable distribution of new tokens among as many users as possible. 

Do note that participation in the Moster Galaxy public sale is restricted to residents of the following jurisdictions: the United States, mainland China, Singapore, Quebec (Canada), North Korea, Cuba, Iran, Crimea, Sevastopol, Sudan, and Syria.

4. Monster Galaxy IEO timeline

The Monster Galaxy IEO will follow a strict Launchpad schedule; below you will find a complete overview of the important dates you will have to keep in mind.

Disclaimer: Committed BIT will be locked for the duration of the sale, meaning transfers, withdrawals or other trading functions will be unavailable until after the final token distribution.

Here’s the full breakdown of the GGM public sale on Bybit Launchpad, as explained by Bybit:

  • January 13 (00:00 UTC) to January 17 (23:59 UTC) – Snapshot Period: The daily average amount of BIT in your Spot Account, ByFi Account, and Derivatives Account during the snapshot period must be equal to or greater than 50 in order to participate in the token sale.
  • January 18 (03:30 UTC) to January 18 (10:59 UTC) – Subscription Period: You can commit a certain number of BIT in your Spot Account towards the new project. The number of BIT you’ve committed will be locked until the public sale ends.
  • January 18 (11:00 UTC) to January 18 (11:59 UTC) – Distribution Period: Based on your final GGM allocation result, the corresponding BIT equivalent will be deducted from your committed amount, while your GGM allocation and the remaining BIT will be credited back to your Spot Account.
  • January 18 (12:00 UTC) – Launch Period: The new Spot pair, GGM/USDT, will be live for trades as long as liquidity conditions are met.

5. Monster Galaxy step-by-step Launchpad guide

Now that you are familiar with the project and the intricacies of Bybit’s Launchpad program, follow our step-by-step instructions to learn how to commit your BIT holdings.

Step 1 – After selecting the active IEO during the Subscription Period, you will be able to see if you are eligible to participate or not. Click “Commit Now” to invest your BIT.

Step 2 – Enter the amount of BIT you wish to commit to the sale and click on the “Confirm” button to proceed.

Step 3 – Congratulations, you have successfully committed your BIT. You can choose to commit additional funds, up to your daily average BIT balance, which was calculated during the Snapshot Period.

6. Performance of previous Bybit Launchpad projects and closing thoughts

Purchasing tokens as soon as they are available carries a substantial amount of risk, so make sure to do your own research before committing any money. However, the Launchpad program has historically been one of the more lucrative investment opportunities for Bybit users, with most tokens experiencing a distinctly positive market reception.

Here’s an overview of some of the past Bybit Launchpad projects and their USD adjusted returns:

Launchpad ProjectROI (expressed in USD)
Symbiosis Finance5.3x
*Data collected on January 12, 2022 at 15:00 UTC.