Bybit Web3 IDO Launchpad Hosts IDO for Decentralized Payment Protocol Slash (SVL) Ahead of Spot Listing

[PRESS RELEASE – Tokyo, Japan, April 25th, 2024]

Leading crypto trading platform Bybit is hosting the Initial DEX Offering (IDO) for Slash (SVL), a decentralized payment protocol designed to transform how merchants and consumers use digital tokens for transactions. Immediately following the IDO’s conclusion, the SVL token will be listed on the Bybit spot exchange and made available for trading on April 29, 2024, at 10am 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 10am UTC on April 22, and 10am UTC on April 26. The platform will conduct up to three daily snapshots to determine the eligibility of users.

The IDO offers 26,315,800 SVL tokens at a launch 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 landscape of decentralized payments,” said Slash founder Shinsuke Sato.

“Our protocol not only simplifies transactions for users and e-commerce merchants but also ensures that every participant in the ecosystem is rewarded through a comprehensive fee redistribution model.”

In addition to the Initial DEX Offering, Slash is enhancing its community engagement with a Genesis NFT Campaign. Participants who deposit on Bybit using Slash by 23:59 UTC+9 on April 26 will receive a Genesis NFT, which qualifies them for an upcoming SVL airdrop. The snapshot for this campaign will occur on April 26 at 00:00 UTC+9.

Slash sets itself apart by enabling seamless integration with third-party finance dApps and automating the token conversion process via smart contracts. This functionality allows merchants to accept a wide array of crypto payments directly, 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 back to token stakers.

About Slash

SVL (Slash Vision Labs) is pioneering the transformation of the cryptocurrency payments landscape with its innovative ecosystem, built on the Mantle Network. Embracing decentralization and community empowerment, SVL redistributes 100% of protocol fees back into the ecosystem, rewarding token stakers and fostering active participation. Slash offers two flagship products: Slash Payment and Slash Card. Since launching in October 2022, Slash Payment has empowered over 4,000 merchants to seamlessly accept various tokens on any network as forms of payment, processing over $180 million worth of transactions. Slash Card is the first-ever and only crypto-backed credit card that complies fully with Japan’s stringent crypto and payments regulations. Bridging fiat and crypto economies, Slash Card aims to onboard Japanese consumers, merchants, developers, and institutions into the world of cryptocurrency seamlessly, offering unparalleled convenience.

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