Bybit Exchange Adds Magic Square's SQR Token for Spot Trading

Bybit, a prominent crypto exchange, has revealed its decision to list the native governance token, SQR, on its trading platform. Following this listing, users can engage in spot trading with SQR using Bybit's spot grid bots. SQR serves as the governance token for Magic Square, a Web3 platform dedicated to discovering and engaging promising projects within the cryptocurrency space.

Magic Square's Web3 Platform Overview

Magic Square operates as a centralized hub for various Web3 projects and applications, providing users with a single platform for discovering and accessing decentralized innovations. Developers showcase their projects on the Magic Store, managed by Magic Square.

Backers and Support for Magic Square

Magic Square boasts support from influential investors globally, including Binance Labs, KuCoin Labs, Republic Capital, Gate.io, Huobi Ventures, IQ Protocol, Crypto.com, Forty Two, Alpha Grep, Kyber Network, Banx, deBridge, and Chainlink.

Bybit's Grand Prize Pool and Early Participation

Bybit's announcement on Twitter/X indicates that users participating early in the SQR listing will have the opportunity to receive free SQR tokens. Bybit plans to allocate a grand prize pool shared among SQR holders utilizing their platform. The countdown for the listing concludes at 10 AM UTC on January 11, 2024, generating significant anticipation within the community.

Magic Square's Recent Developments

Magic Square's recent $1 million public sale, conducted through DAO Maker, garnered substantial attention, amassing $22 million in deposits within the initial 24 hours. An additional $2 million injection from DAO Maker resulted in a total of $24 million raised within the same period. Over 9,722 users have committed deposits to Magic Square.

Significance of the Bybit Listing

The listing of SQR on Bybit holds significance as it is likely to increase the token's visibility and demand within the industry. Traditionally, tokens listed on popular exchanges attract more attention, potentially leading to a surge in price. This exposure may also make the token appealing to additional exchanges, contributing to its broader adoption.