Bybit has launched a contest for traders with a prize pool of $7.5m
Crypto-exchange Bybit has launched its annual World Series of Trading (WSOT) traders competition with a prize pool of $7.5 million.
Over 12,000 traders participated in last year's Bybit tournament: 135 teams and 2,128 traders received $1.27 million in prizes.
The WSOT 2021 prize fund has increased five times compared to last year. The organizers will prize up to $6 million in the team event and up to $1.5 million in the individual event. Participants will also be able to win collectible NFTs, which Bybit released on the occasion of the tournament.
"WSOT is coming back: bigger and better. This tournament not only creates a competitive spirit, but also shows the positive impact of the crypto industry on our daily lives. WSOT is also part of our contribution to the mass adoption of cryptocurrencies. Events on this scale can get people from related fields interested in new technologies," commented Bybit co-founder and CEO Ben Zhou.
In 2020, Bybit donated 10 BTC from the WSOT prize fund to the United Nations Children's Fund's (UNICEF) pandemic humanitarian aid initiatives.
The COVID-19 crisis continues and makes it more difficult for children to access education, so Bybit has quadrupled its donation in 2021. The cryptocurrency exchange will send up to $400,000 to UNICEF. The money will go towards providing access to education for children in East Asia and the Pacific.
"The world is learning to cope with a lingering pandemic, but the most vulnerable in society are often overlooked. There is no better investment than investing in children's well-being and education," notes Bybit's Head of Communications Ignes Terrenus.
To participate in WSOT 2021, you need to have in your account:
- individual standings: from 300 USDT;
- Individual or team scoring: from 0.02 BTC.
- Users will receive a $70 bonus if they register early. Exchange will draw daily bonuses and NFT among active participants of the tournament.
Rules and registration can be found at WSOT 2021.
As a reminder, Bybit launched a spot trading platform with zero maker fees in July.