Bybit to List OBX Token on Bybit Launchpad 2.0

Crypto exchange platform Bybit has announced plans to list the inaugural BloxVerse platform token OBX on Bybit Launchpad 2.0.

According to the announcement, the company's initial exchange offering for OBX will be hosted on the Bybit Launchpad 2.0 on June 30.

OpenBlox is an Ethereum Virtual Machine (EVM) based non-fungible token (NFT) gaming and web3 platform. It focuses on play-and-earn, move-and-earn and IP branding.

The company said that users can use its token, BIT, to subscribe to token allocations or participate in Launchpad 2.0's new lottery model. 

"Users stake a nominal amount of Tether (USDT) for the chance to win allocations of new tokens," the announcement said.

Bybit users can also buy the best performing tokens from previous listings via the Launchpad.

Bybit has also launched its grid trading bot.

The new grid trading features went live for all registered users on June 20. It further added that users will also have access to the grid trading bot to automate their buy and sell orders and adjust their investment amount.

“By executing low purchase orders that lead to high sell orders during a lateral price movement, the system ensures profitability each time the sale price exceeds the purchase price, thus eliminating the need for market forecasting,” Bybit said in an announcement.

The grid trading bot assists users in carrying out the Grid Trading Strategy. It enables users to place a series of purchase and sell orders within a given price range.