Bybit Web3, the Web3 division of Bybit, has revealed plans for an Initial DEX Offering (IDO) for Thetanuts Finance (CRYPTO:NUTS) on its platform.

Thetanuts Finance, a decentralised on-chain options protocol for altcoins, boasts impressive Total Value Locked (TVL) exceeding $30 million.

NUTS serves as the governance token, enabling users to participate in the protocol's governance and incentives.

The IDO subscription period runs from May 13 to May 17, with eligibility requirements including a minimum balance of 400 USDC in a Bybit Wallet.

The listing date for NUTS is scheduled for May 20, 2024.