Bybit’s WSOT 2024 will feature DEX (decentralized exchange) trading, bringing together decentralized and centralized platforms in a unified competition.
DeFi (decentralized finance) and CEXs (centralized exchanges) often exist as separate entities and as the crypto industry continues to grow, the need to connect these parallel forces becomes more apparent.
By bridging this divide, these two sides of the same coin can create a user-friendly and better-integrated crypto ecosystem.
Bybit, the second-largest cryptocurrency exchange by trading volume, is pushing toward a better-connected crypto space by incorporating DEX trading into its WSOT 2024 (World Series of Trading).
This is the first time a decentralized trading option will be included in the global competition and marks a substantial step for a unified crypto trading community.
The WSOT competition has become an important event for the global trading community, rewarding the skills of individual traders and teams alike for over four years.
In 2022, WSOT attracted over 69,000 participants, rising to 117,000 in 2023.
WSOT 2024 – bringing CEXs and DEXs together
This year’s competition introduces the WSOT DEX Wave and DEX Pro, aiming to create a collaborative environment for builders, traders and ecosystem partners for all corners of the crypto space.
DEX Pro will enable traders to access over one million DeFi tokens – including GameFi tokens, memecoins and other DeFi projects – unlocking a wider market than any predecessor WSOT event.
Ben Zhou, co-founder and CEO of Bybit said,
“By integrating DEX trading into WSOT 2024, we’re providing traders with the opportunity to explore both the centralized and decentralized sectors of crypto.
This year’s competition offers a unique chance to experience every element of the digital assets market.”
Huge prize pool and top-tier rewards
WSOT 2024 features a prize pool of up to 10 million USDT, including exclusive luxury rewards such as Rolex watches, global travel tickets and even a whole yacht.
These incentives are in place to draw in the maximum range of participants, attracting newcomers and veterans who wish to test their trading skills on the WSOT stage.
Improved competition structure
This year’s competition will usher in a tiered weighting system that prioritizes strategy and showcases talent rather than resource advantages.
Traders will also be able to use subaccounts, enabling them to maximize rewards through one main account and up to four supplementary ones.
The new competition structure will also introduce an ROI reset card that helps level the playing field further, allowing traders to reset their ROI (return on investment) if needed.
Partnering for innovation in Web 3.0
To further support the Web 3.0 ecosystem, Bybit is collaborating with Immunefi and the Ethereum Foundation to empower Ethereum’s first Attackathon.
Bybit will contribute up to 75 ETH to the global event aimed at improving the Ethereum network’s security and innovation.
With the introduction of DEX trading, new key feature additions and huge prizes and rewards for participants, Bybit’s WSOT 2024 is ready to connect the centralized and decentralized sectors for a truly inclusive and unified Web 3.0 ecosystem.
Learn more about WSOT 2024 here.
