ByVotes PENGUIN on Bybit: how to vote and get rewarded
Bybit exchange has launched a new ByVotes PENGUIN campaign, which allows users to support a crypto project and receive a share of the prize pool. The total prize pool is 1,500,000 PENGUIN tokens, which is equivalent to approximately $123,000.
Voting will run from January 29 to 31, and all Bybit users who have stablecoins on their accounts can participate. The ByVotes campaign is one way to get cryptocurrency bonuses without directly purchasing the token.
What is ByVotes on Bybit
ByVotes is a voting system that Bybit uses to support new crypto projects. Users vote for tokens using special coupons, the number of which depends on the account balance.
The main feature of ByVotes is that you don’t need to buy a project token to participate. All you need is stablecoins in your account, which are automatically converted into votes.
This format allows you to:
support a promising crypto project;
use your account balance as efficiently as possible;
get a chance to win a cryptocurrency reward.
ByVotes PENGUIN Participation Terms
To receive votes, the user must hold the following stablecoins on their Bybit account:
USDT
USDC
USDE
USDD
DAI
CUSD
The mechanics are simple: 1 USDT equivalent = 1 vote.
After that, you need to go to the Bybit voting page and support the PENGUIN project.
The main limits are:
minimum number of votes — 100;
maximum number of votes — 10,000.
How are votes calculated on Bybit
The number of votes is determined by the average account balance over the previous 24 hours. This means that the system analyzes the average amount of assets a user has over the past 24 hours and calculates votes based on that.
1. Minimum threshold
If the average account balance is less than $100, the user does not receive coupons and cannot participate in voting.
2. Standard calculation
If the average balance is $100 or more, the number of coupons is equal to the amount of assets.
Example:
$100 → 100 coupons;
$350 → 350 coupons;
$1,000 → 1,000 coupons.
3. Maximum level
If the average balance exceeds $500,000, the user receives the maximum possible number of coupons - 500,000.
How does coupon accumulation work?
Voting coupons are accrued daily according to Bybit rules. They accumulate over a month, but have a limited validity period.
Basic rules:
Coupons are added daily;
All accumulated coupons are canceled on the first day of the new month at 00:00 UTC;
Coupons from the current month can be used to vote for all ByVotes projects launched in the same month.
Thus, active users can accumulate coupons and use them to participate in multiple campaigns.
Why you should pay attention to ByVotes PENGUIN
The ByVotes PENGUIN campaign is interesting not only for the opportunity to receive tokens, but also for the mechanics of participation. It allows you to use your account balance without the additional risks associated with purchasing a token.
The main benefits of participation:
the opportunity to receive cryptocurrency rewards without purchasing a token;
participation in the development of a new crypto project;
effective use of stablecoins;
increased chances of bonuses due to a larger balance.
The larger the average account balance, the more votes and potential share in the prize pool.
FAQ about ByVotes on Bybit
Do I need to buy PENGUIN tokens to participate?
No. You only need to have stablecoins in your Bybit account to vote.
How much can you earn on ByVotes?
The amount of the reward depends on the number of votes and the user's share of the total prize pool.
Are there any risks?
Voting does not require the purchase of a token, but the amount of the reward is not guaranteed and depends on the results of the campaign.
Who can participate?
All Bybit users who meet the platform's terms and conditions and have sufficient account balance.
Conclusion
ByVotes PENGUIN on Bybit is an opportunity to get cryptocurrency bonuses without buying a token, but only using your stablecoin balance. The campaign is suitable for both active traders and users who simply store funds on the exchange.
Participation in ByVotes allows you to support a promising crypto project and increase your chances of getting rewarded. If you already have stablecoins on Bybit, voting can be an additional way to monetize your balance.
Register on Bybit
You can vote for $PENGUIN here