Bybit Launches WSOT 2024 with $10 Million Prize Pool and Decentralized Trading

WSOT 2024: Bybit Introduces New Trading Leagues and Decentralized Token Access

WSOT 2024 – Dubai, United Arab Emirates, October 1st, 2024 – Bybit, the second-largest cryptocurrency exchange by trading volume globally, has announced the launch of the World Series of Trading (WSOT) 2024, marking a significant milestone as the world’s longest-running crypto trading competition. This year’s edition introduces a groundbreaking fusion of centralized and decentralized trading, offering participants the chance to experience the next generation of trustless trading.

WSOT 2024: A Game-Changer in Crypto Trading Competitions

For 2024, WSOT is pushing the envelope with a competition structure that separates participants based on their capital size into three distinct leagues: lightweight, middleweight, and heavyweight. Each league has its own prize pool, ensuring a level playing field where traders of all sizes can compete fairly. The focus is on trading skill and not the size of one’s account, making it an ideal competition for both seasoned traders and newcomers alike.

Bybit’s Unified Trading Account (UTA) further enhances the competitive experience, allowing traders to manage multiple positions with ease. With the ability to create up to four subaccounts within the UTA, participants can increase their potential for winning by accumulating PnL across multiple accounts and markets. The UTA improves capital efficiency by unifying collateral across positions, ensuring that traders can fully leverage their strategies during the competition.

The Integration of Centralized and Decentralized Trading

One of the most exciting new features of WSOT 2024 is the inclusion of Bybit Web3’s DEX Pro trading platform, giving participants access to over 1 million decentralized tokens, including memecoins, DeFi, and GameFi assets. This expansion into decentralized finance represents a significant step forward for the competition, as it embraces both CEX and DEX markets.

Additionally, WSOT 2024 features the first-ever Web3 Idol competition, where traders earn votes by trading and completing daily tasks. Voters can support up to three different projects daily, with the chance to win from a 1,000,000 MNT prize pool. The winning project will receive substantial backing, including CEO support, prime listing, and exclusive marketing opportunities, making it a major event in the future of Web3.

Over 100 Ecosystem Partners in the DEX Pro Competition

The DEX Pro competition will feature more than 100 ecosystem partners and decentralized projects, including notable names like MomoAi, Tars Protocol from Solana, and Catizen and KTX Finance from the Mantle ecosystem. The competition offers a unique opportunity for traders to explore the full breadth of the crypto ecosystem, uniting both centralized and decentralized elements under one roof.

As Bybit CEO Ben Zhou noted, “Our goal is to set the standard for onboarding users into both CEX and DEX, and WSOT 2024 does just that. By combining these elements, we allow smaller projects and specialist traders to rise through the ranks.”

A Massive $10 Million Prize Pool with Exciting Rewards

The prize pool for WSOT 2024 is the largest in the competition’s history, featuring rewards such as luxury yacht cruises, Rolex watches, world travel tickets, and up to 10,000,000 USDT. With every additional participant, the prize pool grows even larger, making it one of the most lucrative events in the crypto space.

To join the competition, participants must sign up for WSOT, which opens on October 1st, and maintain at least $500 in their Bybit UTA account. Traders can also invite friends to increase their chances of winning in a lucky draw.

WSOT’s Impressive Growth Over the Years

Since its inception, Bybit’s WSOT has grown exponentially. Between 2020 and 2022, nearly 117,000 traders entered the competition. In 2023, the event attracted close to 120,000 traders globally, resulting in a 42% year-on-year increase in trading volume, totaling a staggering $70.5 billion.