Win From a $100K CQT Prize Pool: Help Get CQT on Bybit
Covalent is excited to share that it has been selected to participate in Bybit’s upcoming listing vote in association with the 16th ByVote program!
The ByVote Program is a community voting program where Bybit users vote for which project’s token gets listed for spot trading next, in exchange for access to a prize pool of $100K in CQT tokens.
Make sure you’re following @Covalent_HQ on Twitter for any updates.
Ready to dig in? Here’s a comprehensive overview.
What Exactly is the ByVote Program?
The ByVote Program is a community-driven token listing program from Bybit in which users vote for their favorite projects to be listed next. Users who vote for the winning project will share in the campaign rewards.
During the voting period (full timeline detailed below), registered Bybit users allocate their voting vouchers toward their preferred project(s). At the end of voting, the project with the highest number of votes will be listed in Bybit’s “Innovation Zone” under Spot Trading.
How Big is the Prize Pool?
$100K worth of CQT tokens have been dedicated to the prize pool, which will be distributed by Bybit to the winning voters if CQT wins the vote.
ByVote Timeline
*Supported stablecoins include USDT, USDC, BUSD, CUSD, USDD, and DAI.
How Does Voting Work?
If you are already a KYC’d Bybit user, skip to Step 3.
Step 1: Registering on Bybit
Click on this link to visit the Bybit website.
Enter your email address or phone number to register and create a secure password.
Verify your email or phone number by entering the code sent to you.
Step 2: Identity Verification (KYC)
To ensure your vote counts, you must complete the first stage of Know Your Customer (KYC) verification with Bybit. The steps are outlined clearly on Bybit's help page.
Step 3: Topping up your Spot Wallet
You do not need to send tokens anywhere to vote. The voting process will be conducted using the instructions provided below.
Go to the “Assets” section of Bybit and select “Spot account.” Then, navigate to the assets page.
Choose the currency you wish to use for topping up your balance. For voting purposes, you must select one of the following currencies: USDT, USDC, BUSD, CUSD, USDD, DAI, or MNT.
Click on “deposit” and copy the provided deposit wallet address.
Send the desired amount of funds to the deposit wallet address you copied.
Step 4: Voting with ByVotes
There is no need to lock your assets to vote. Your assets will remain in your custody throughout the voting process. The voting process is straightforward:
On August 9th at 23:59:59 UTC, a snapshot will be taken of your Spot, Earn, Funding, and Derivatives accounts balances on Bybit to determine the number of votes you have. To be eligible to vote, your assets must be in your account before this time. Please note that topping up your balance to obtain additional votes will not be possible once the voting begins. Only the assets in your account three hours prior to the start of the vote will be counted.
The number of votes you possess will be proportional to the assets held in your Bybit account.
The voting period on Bybit will begin at 3:00 AM UTC on August 10th and will last for 24 hours.
Once voting begins, visit the ByVotes site and vote for CQT. Note that a maximum of 10,000 votes ($10,000) can be allocated to one project per account.
After CQT secures the listing vote, users will automatically be distributed CQT tokens, occurring on August 11th.
Sign up for ByBit here.
If you have any questions or need further assistance, please reach out in the Covalent CQT Discord or Telegram.
