DUBAI, UAE, Jan. 18, 2024 /PRNewswire/ -- Bybit, the world's third largest crypto exchange by volume, has announced the launch of its latest staking initiative via the Bybit Launchpool. Starting from Jan. 18, 2024, participants can stake ONDO, USDY, mUSD, or USDT to earn a share of an impressive 9,000,000 ONDO token reward pool.
In a bold move to integrate traditional finance with the burgeoning decentralized finance space, Bybit Launchpool will host the staking event featuring ONDO alongside other stablecoins such as USDY, mUSD, and USDT. The event will run until Feb. 1, 2024, at 8AM UTC. This staking event is not just a chance to be part of a new financial wave but also a means to obtain a share of 9,000,000 ONDO tokens without cost.
The rewards are distributed across four pools. Each pool has a specific allocation of ONDO tokens ranging from 900,000 to 4,500,000 and varying minimum and maximum staking amounts. The daily yield for participants is determined by their staked amount relative to the total staked by all participants, multiplied by that day's ONDO prize pool. Rewards are calculated daily and added to the user's funding account the following day and assets can be unstaked at any time.
Ondo Finance specializes in offering tokenized financial products, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). One of its main objectives is to provide investors access to U.S. denominated financial products through tokenized assets. These assets offer improved liquidity, accessibility, and transparency.
Bybit / TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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