Coinspeaker Bybit’s World Series of Trading 2024 Kicks Off with 10M USDT Up for Grabs
The world’s second-largest crypto exchange Bybit has launched the World Series of Trading (WSOT) 2024. According to the firm, this year’s edition will push boundaries and explore territories that the trading competition has never before neared.
Bybit says it will integrate both centralized (CEX) and decentralized (DEX) trading platforms, such that participants may get to experience the rare opportunity of trading now and in the future.
New Features that Set WSOT 2024 Apart
Per Bybit, WSOT 2024 ensures that no trader is marginalized. That is, regardless of their skill levels or the size of their capitals. The competition is divided into three divisions: lightweight, middleweight, and heavyweight. This is to make sure that participating traders have a fair chance to compete, with each league having its separate prize pool. At the end of the day, the idea is for traders to be rewarded for their trading skills rather than the size of their accounts.
Meanwhile, Bybit has also introduced what it calls the Unified Trading Account (UTA) to boost the traders’ chances of winning. The exchange says this tool allows participants to take multiple positions across various markets and subaccounts.
With up to four sub-accounts available, traders can spread their profit and loss (PnL) across different strategies and markets. According to Bybit, this feature does not only help traders with capital efficiency but ultimately boosts their chances of succeeding in the tournament.
There is another interesting feature of WSOT 2024. That is the fact that Bybit has integrated its Web3 DEX Pro platform. This means that participants have access to trade over 1 million decentralized tokens, including meme coins, DeFi, and GameFi assets.
By merging CEX and DEX trading in one competition, Bybit seeks to foster adoption in ways previously unimaginable. Ben Zhou, co-founder and CEO, said in a statement:
“Bybit aims to create industry best practices for onboarding users for both CEX and DEX to help create a broader landscape of crypto adoption.”
Web3 Idol Competition and a Record-Breaking Prize Pool
WSOT 2024 will also feature a Web3 Idol competition. For the first time, traders can earn votes by completing daily tasks and trading.
Although only three votes are available per day, the votes are used to support different Web3 projects, such that the project with the most votes will receive major support ranging from CEO endorsement to prime listing, and even broad-scale marketing promotion.
From the Web3 Idol competition, participants have the chance to win from a prize pool of 1,000,000 MNT MNT $0.63 24h volatility: -1.0% Market cap: $2.05 B Vol. 24h: $72.87 M . This includes a 600,000 MNT grand prize for those who vote for the winning project and 200,000 MNT daily rewards.
Overall, the prize pool for WSOT 2024 has reached impressive new heights. The stakes for this year’s competition are so high that it is set to offer a whopping 10,000,000 USDT USDT $1.00 24h volatility: -0.1% Market cap: $119.56 B Vol. 24h: $96.23 B .
According to the announcement, the prize pool will even get bigger as more traders join the competition. That is not to mention that participants also stand the chance to win amazing luxury rewards such as Rolex watches, yacht cruises, and international travel tickets.
WSOT 2024 begins today, October 1. However, traders who want to partake in the event must first register. Thereafter, they must maintain a minimum balance of $500 in their Bybit UTA account to remain eligible as participants.
Bybit has partnered with over 100 decentralized projects and ecosystem partners such as MomoAi, Tars Protocol, and Catizen, ensuring that this competition will shape the future of Web3 innovation.next
Bybit’s World Series of Trading 2024 Kicks Off with 10M USDT Up for Grabs
