Bybit has announced the listing of Elderglade (ELDE) on its Convert and Savings platforms, marking a strategic expansion of its GameFi offerings. The exchange will open deposits for ELDE on May 27, 2024, at 8:00 AM UTC, with spot trading commencing at 10:00 AM UTC. This follows Bybit’s earlier 4,000,000 ELDE prize pool Megadrop campaign that required staking MNT or USDT.
The ELDE listing coincides with its debut on KuCoin and Gate.io at the same UTC time, creating a synchronized multi-exchange launch. Withdrawals will become available on Bybit starting May 28 at 10:00 AM UTC. The token’s introduction comes as Elderglade prepares to leverage its established gaming ecosystem, which already boasts millions of active players.
Analysts from CoinGabbar highlight ELDE’s potential in the GameFi sector, noting its integration with Binance’s Alpha Points system for token subscriptions. The project has reserved 16 million ELDE tokens for future ecosystem incentives, suggesting long-term growth plans.
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Bybit’s ELDE Listing Mechanics
Bybit’s ELDE implementation spans three key phases:
- Deposits: May 27, 8:00 AM UTC
- Spot trading: May 27, 10:00 AM UTC (ELDE/USDT pair)
- Withdrawals: May 28, 10:00 AM UTC
The exchange’s Convert feature will enable instant ELDE conversions against 300+ other assets, while Savings products offer yield-generating opportunities. This dual approach mirrors Bybit’s strategy for major listings like Bitcoin and Ethereum.
Megadrop Campaign Details
From May 20-27, users could stake MNT or USDT to share Frombit’s 4 million ELDE reward pool. The campaign required minimum stakes of $100 in MNT or $50 in USDT, with rewards distributed proportionally based on staking amounts. Unclaimed tokens will be burned post-deadline per the platform’s transparency policy.
Elderglade’s GameFi Ecosystem
Elderglade enters the market with a functional gaming platform featuring:
| Metric | Detail |
|---|---|
| Active Players | Millions |
| Transaction Volume | Live in-game economy |
| Chain Support | BSC & KAIA |
The project’s Binance Alpha Points subscription window on May 27 (8-10 AM UTC) creates exclusivity for early participants. Industry observers suggest this could mirror the success of Axie Infinity’s AXS token launch dynamics.
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Market Impact: Bybit’s ELDE listing intensifies competition in GameFi infrastructure services, following Coinbase’s recent GODS token integration. The synchronized multi-exchange launch could create immediate liquidity, while the Megadrop’s staking mechanics may influence short-term price discovery. As noted in CoinGabbar’s analysis, ELDE’s success hinges on converting its gaming userbase into token holders – a challenge faced by previous Web3 gaming projects.
