The Biggest Trading Competition in Crypto History Kicks Off

Dubai, United Arab Emirates, October 1st, 2024

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of the World Series of Trading (WSOT) 2024, the longest-running crypto trading competition globally. This year, WSOT is breaking new ground by integrating centralized and decentralized trading, providing participants with a glimpse into the future of trustless trading.

Innovative Features Traders Will Appreciate

Traders can compete in three divisions based on their capital: lightweight, middleweight, and heavyweight. Each league has its own prize pool, ensuring a level playing field where skill trumps account size.

Additionally, traders have the option to create up to four subaccounts within their Unified Trading Account (UTA), allowing them to accumulate profits across various accounts and markets. Bybit’s UTA optimally calculates margin, unifies collateral, and enhances capital efficiency, enabling traders to manage multiple positions seamlessly.

Embracing Decentralized and Centralized Trading

WSOT also incorporates Bybit Web3’s DEX Pro trading platform, allowing participants to trade over 1 million decentralized tokens, including memecoins, DeFi, and GameFi assets. This year marks the introduction of the first-ever Web3 Idol competition, where traders earn votes by trading and completing daily tasks. Voters can support up to three projects each day, entering them into a 1,000,000 MNT prize pool that includes a grand prize of 600,000 MNT for the winning project, along with daily rewards.

The winning project will benefit from exclusive CEO backing, prime listing opportunities, and marketing support, making this competition a pivotal event for the future of Web3.

More than 100 ecosystem partners and decentralized projects, including notable names, will participate in the DEX Pro competition as part of WSOT, fostering collaboration between centralized and decentralized trading.

Ben Zhou, co-founder and CEO of Bybit, stated, “Bybit aims to set industry standards for onboarding users into both CEX and DEX platforms, facilitating broader crypto adoption. By blending these elements, we empower smaller projects and specialized traders to rise through the ranks of competition.”

Prize Pool and Participation Information

The WSOT 2024 prize pool is substantial, featuring rewards like yacht cruises, Rolex watches, world travel tickets, and up to 10,000,000 USDT. The overall prize pool increases with more participants, making it the most enticing competition this year.

To take part, users must sign up for WSOT and maintain a minimum balance of $500 in their Bybit UTA account when the event opens on October 1. Participants can also invite friends to join the competition, gaining additional chances in the lucky draw.

Bybit’s WSOT has achieved remarkable growth, with nearly 117,000 traders entering the competitions from 2020 to 2022. In 2023, the event attracted close to 120,000 traders globally, resulting in a significant year-on-year surge in trading volume, which reached a total of 70.5 billion.

About Bybit

Founded in 2018, Bybit has grown to become the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. The platform offers a professional environment equipped with a high-speed matching engine, 24/7 customer support, and multilingual community assistance. Bybit is also a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions.

For more information regarding Bybit or media inquiries, feel free to reach out via email.