Bybit launches trading tournament with prize pool of up to 200 BTC

From August 10 to 30, the cryptocurrency derivatives exchange Bybit will host a tournament for trading perpetual futures contracts BTCUSD, World Series of Trading (WSOT). Registration for the event is open until August 14.

WSOT competitions are held in individual and team standings. The maximum prize pool depends on the number of participants and can reach up to 200 BTC. The organizers will donate 5% of the final amount to UNICEF (the United Nations Children’s Fund).

Additionally, participants will receive up to 9,400 USDT in bonuses: for completing additional tasks, daily check-ins in their account, the highest number of profitable trades, and invited referrals.

Users can participate in both standings simultaneously, but registration must be done separately. Registration is on the tournament site.

Individual standings

Participants: users with at least 300 USDT in their trading account.

Prize pool: up to 300,000 USDT. It is split between two categories. 70% of the prize pool will go to the holders of the highest profits, and 30% to users with the best profit-and-loss (PnL) metrics.

Number of winners: up to 50 in each category. The prize size depends on the ranking in the traders’ leaderboard and the number of participants.

Team standings

Participants: teams of at least 10 people with no less than 0.1 BTC in their trading account. Users choose a team at registration. It cannot be changed during the tournament.

Prize pool: up to 150 BTC. It is split between three categories. 70% go to the teams with the best profit and loss performance, and 15% each go to the members of the teams with the highest profits and the best PnL.

Number of winners: 10 teams in each category. The prize amount depends on the ranking and the number of participants. Prizes are distributed among team members:

• 20% — to the team captain;
• 20% — shared among the ten best traders;
• 60% — shared among the remaining team members.

Bybit is a platform for trading cryptocurrency derivatives with its headquarters in Singapore. The exchange offers perpetual contracts BTCUSDT, BTCUSD, ETHUSD, EOSUSD and XRPUSD.

Earlier, ForkLog, together with Bybit, explained how USDT futures contracts work and their advantages.

Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news and polls.