DUBAI, UAE / ACCESSWIRE / April 27, 2022 / Aurigami, a decentralized, non-custodial liquidity protocol, will launch on Bybit's new Launchpad 2.0 on May 5.

Bybit Launchpad 2.0 is a freshly revamped platform that features a new lottery model for new projects where users can try their luck to win allocations of new tokens with USDT. It also allows users to buy through the Launchpad directly the best performing tokens that were previously listed.

The Aurigami protocol enables users to lend, borrow, and earn interest with their digital assets. Depositors provide liquidity to the protocol to earn a passive income, while borrowers are able to borrow in an over-collateralized fashion. It currently supports the eight largest assets in the Aurora ecosystem and the project is one of the top protocols by total value locked (TVL) on Aurora with over $700 million liquidity.

The launch of Aurigami's native token $PLY on Bybit is an opportunity for retail investors to participate in Aurigami at the same valuation as venture capital firms during the private funding round.Aurigami's tokenomics are designed to tightly control the $PLY circulating supply through a progressive locking mechanism via liquidity mining incentives.

Aurigami has raised capital in a privatefunding round led by venture capital firms Dragonfly Capital and Polychain Capital. Other participating firms were Mechanism Capital, Amber Group, Jump Capital, Coinbase Ventures, Alameda Research, Lemniscap, QCP Capital, DeFi Capital, D1 Ventures and Genblock Capital.

About Bybit

Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.

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SOURCE: Bybit