Bybit Announces WSOT 2024 Competition, Teases Web3 and DEX Integration
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Bybit, a leading crypto exchange, is expanding its World Series of Trading (WSOT) 2024 competition to include Web3 and decentralized exchange (DEX) integration.
The integration, named WSOT DEX Wave, redefines the role of Bybit, turning from an exchange to a key player in building the Web3 ecosystem and supporting crypto users globally.
This marks a new step in connecting decentralized finance (DeFi) traders with those from centralized exchanges (CEXes), all competing for a prize pool of up to 10 million USDT, along with other rewards like luxury watches and yachting experiences.
Merging CEX and DEX
The WSOT 2024 competition will see traders from both centralized exchanges (CEXes) and decentralized exchanges (DEXes) come together in what is being billed as the world’s largest crypto trading event.
The integration of Web3 and DEX trading into WSOT 2024 introduces a new element to the competition. Named "DEX Wave," this component allows participants from the Web3-native decentralized ecosystem to compete, making it the first time such a large-scale event has embraced traders from decentralized platforms.
This shift not only expands the scope of the competition but also reflects the broader industry trend of decentralization and Bybit’s leadership in supporting both sides of the market, CEX and DEX alike.
Participants will have access to a large range of DeFi assets. Bybit’s DEX Pro platform will feature over one million decentralized tokens, covering everything from GameFi tokens to meme coins and other DeFi projects.
This expanded offering will be supported by a network of more than 100 ecosystem partners, including notable projects like Yescoin, Bonk, Catizen, Navi Protocol, Blackcardcoin and Character X.
New trading features
This new WSOT also introduces a tiered weighting system aimed at ensuring fairness throughout the competition. Bybit has designed this system to level the playing field, ensuring that traders’ resources do not disproportionately affect the outcomes.
Instead, the competition will place a greater emphasis on participants’ actual trading skills. This approach encourages a merit-based competition, where success is determined by strategy, skill and market insight rather than the size of one’s wallet.
“WSOT 2024 opens the door to a broader experience of the crypto world,” said Ben Zhou, co-founder and CEO of Bybit. “With distinct offerings on our CEX and DEX we’re giving traders the tools to navigate both sides of the market and explore new possibilities. I’m excited to see how they’ll take this opportunity to challenge themselves and elevate their trading to the next level.”
This year, Bybit is emphasizing collaboration between traders, developers and builders within the crypto space, encouraging a spirit of innovation and cooperation.
The platform also partnered with Immunefi and the Ethereum Foundation to sponsor Ethereum’s first-ever Attackathon, with up to 75 ETH contributed in support of this global hackathon. The Attackathon is designed to improve innovation and security in the Ethereum ecosystem as WSOT commits to building a more secure space for all Web3 and crypto users.
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