Bybit Unveils Major Updates to ByVotes Feature for Community Empowerment

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has unveiled significant updates to its ByVotes feature. These improvements are aimed at empowering both the community and crypto builders. These improvements will offer more ways for users to support projects they believe in. With these enhancements, Bybit continues its commitment to a more decentralized and community-driven platform.

Bybit Introduces New Features in ByVotes for Better Project Discovery

Perhaps the most engaging feature for ByVotes at the moment is a vote for NEIROCTO, the first Neiron on Ethereum. The voting period is from November 13 to November 15, and fans of NEIROCTO are mobilizing to ensure that the project gets a “listed” status in Bybit’s Spot market. The voters who will guess the correct result will be awarded a portion of the 113,982,762 NEIROCTO tokens. This will bring more interaction between the existing crypto community and new projects.

The ByVotes feature has been modified and brought to a new version that has several new features that seek to enhance the use of the application. One of the important changes is the setting of target threshold for the projects. What this means is that each of these projects has to garner a particular number of votes to go ahead. This new measure is helpful for increasing the quality and useful for the community to measure the market needs better. Those projects meeting the criteria set will then be included in Bybit’s Adventure Zone list which increases their chances of being discovered.

Bybit Enhances ByVotes with Rewards for Token Holders and Referrals

Another new feature is the “Vote and Earn” feature. Bybit users will now earn votes in proportion to their holdings, according to Bybit. In the event the project they support is located in the Adventure Zone then they stand to be awarded from the pool of prizes. Moreover, Bybit has also implemented a refer-a-friend program to encourage users to invite their friends to sign up and vote.

Joan Han, Sales and Marketing Director at Bybit noted that ByVotes were instrumental in finding superior projects. She added that Bybit is now shifting towards reliance on the community to determine who has potential for growth. Ultimately, these updates will also bring into the community more rewarding features that in turn promote development in the crypto space.