Bybit closes more of its web3 services after the anxiety of the unimaginable token (NFT) market earlier in April earlier.
According to one April 16 announcement. NFT Marketplace.
On April 28, Bybit will also stop web3 points, the internal loyalty program reward onchain with redeemed points for fees discounts, strengthening airdrop and early bird perks.
On the same day, the exchange market will close its inscription, the decentralized NFT Marketplace NFT PRO, the Gateway to the top pro derivatives Dex, the Fiat-to-Crypto on-Ramp, and the initial dex offering service.
Related: Bybit Recovers Market Share to 7% after $ 1.4B hack
A strategic pivot
Bybit revealed its intent to close Its NFT market earlier this month. The decision follows a Similar decision of Major NFT Marketplace x2Y2.
However, the firm is not just cutting products. Recent reports indicate Thatbit that included bitcoin (Btc) result in Avalon’s protocol lending product to offer bitcoin yield to its users. Avalon said it would allow platform users to earn from Bitcoin by arbitrating at the organized institutional borrowing rate.
Bybit recently rejected these claims charge $ 1.4 million to list a token on its platformFollowing allegations made by a social media user.
Related: Bitmex CEO explains how perpetual swaps test altcoin value
Bybit refocusing its efforts
Bybit said to close services to focus on the quality of its basic products. The announcement read:
“In accordance with our promise to the emerging onchain ecosystem and delivering high quality services to our web3 users, we will optimize our current web3 offerings and services.”
Bright efforts on company spending follow bybit’s Loss of nearly $ 1.4 billion In a major hack in February.
“Bybit is solvent even though this hack loss is irrevocable, all client’s possessions are 1 to 1 -back -back -we can cover the loss.”
Bybit did not respond to Cointelegraph’s request for comment by publication.
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