Bybit’s first launchpool on its EU exchange is going live, in collaboration with XION.
Crypto exchanges are quickly adapting to greater regulatory clarity in Europe. On Thursday, August 14, Bybit EU launched its first Launchpool, a rewards program in cooperation with the XION project.
Specifically, the Launchpool will allow users to lock up certain tokens and stake them for a set period of time to earn rewards. The pool size is 100,000 XION, worth about $110,000. Users will be able to stake XION tokens, Mantle (MNT) and USDC stablecoin.
“Europe is now the proving ground for regulated digital assets, and together with Bybit EU we’re setting a precedent for how mainstream audiences can discover and engage with blockchain technology in a safe, intuitive way,” Anthony Anzalone, Founder of XION.
XION tokens will yield a 60% APR, Mantle will yield 36% APR, while USDC will yield 24% APR. Notably, the APR is proportional to risk, as the underlying asset can fall in value while under lockup.
On July 1, Bybit has lauched his EU-focused platform, which complies with EU’s MiCA regulations. According to the exchange, MiCA regulations provide much needed regulatory clarity for the firm to expand in this market.
