Bybit’s WSOT competition has expanded its scope by integrating decentralized exchange (DEX) trading and bridging the gap between centralized and decentralized ecosystems.
Fragmentation is a natural characteristic of the crypto landscape, as centralized and decentralized platforms continue to thrive in parallel without much direct contact. The push to unify these two elements into a singular user-friendly experience is fundamental for the sustained growth and innovation of Web3.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is now integrating decentralized finance (DeFi) into its World Series of Trading (WSOT 2024) event — adding DEX trading to the world-renowned competition for the first time.
For the past four years, WSOT has been a significant event for the entire crypto trading community, recognizing the true expertise of both individual traders and teams. WSOT 2022 saw an impressive turnout with over 69,000 traders from 182 regions, and WSOT 2023 exceeded expectations with 117,000 participants.
Bringing together CEX and DEX communities
The newly introduced WSOT DEX Wave is designed to unite participants from centralized and decentralized platforms to offer a more inclusive trading space. Bybit’s role in nurturing the Web3 ecosystem is evident in its latest inclusion of DEX trading, highlighting the growing overlap between traditional finance (TradFi) and DeFi.
Bybit has also added the DEX Pro platform as part of WSOT 2024, giving traders access to over 1 million DeFi tokens. Supported by the top entities from the Web3 space, DEX Pro enables traders to engage with a wealth of DeFi assets, from gaming finance (GameFi) tokens to memecoins and other emerging projects.
“WSOT 2024 is opening the door to a wider spectrum of crypto trading,” said Ben Zhou, co-founder and CEO of Bybit. “With our combined CEX and DEX offering, traders are equipped with more tools to explore both sides of the market and dive into new opportunities.”
Massive rewards and prizes
This year’s competition features a hefty prize pool of up to 10 million USDT and will allow participants to compete for luxurious prizes such as Rolex waters, tickets for world travel, and even a yacht. WSOT 2024 will be an event that draws in traders of all levels.
Better competition structure
To maintain a level playing field, WSOT 2024 will introduce a tiered weighting system, which ensures that the competition rewards skill rather than those with access to larger resources. Participants can also use subaccounts to maximize rewards across one main and four additional accounts and even reset their ROI with the new ROI Reset Card if they experience negative returns.
Crypto collaboration
Bybit is collaborating with Immunefi and the Ethereum Foundation to support Ethereum’s first-ever Attackathon. As part of this initiative, Bybit will be contributing up to 75 ETH to bolster Ethereum’s security and encourage innovation in the ecosystem.
WSOT 2024 is set to bring a variety of elements to the crypto space and offer traders a thoroughly enjoyable experience across centralized and decentralized platforms. This year’s focus on DEX trading and its sizable prize pool reflect Bybit’s ongoing efforts to promote collaboration in the crypto community. Learn more about WSOT 2024 here.