The largest crypto trading competition adds a Web3 part
World Series of Trading (WSOT), held by Bybit, is the largest crypto trading competition in the world. Previously it required using centralized tools for all of its contests. But Bybit recently announced the addition of a new "WSOT DEX wave" part. The company states its aim as "redefining our role from a mere exchange to a key player in nurturing the Web3 ecosystem and supporting crypto users".
That reflects a DeFi trend in the whole crypto ecosystem. Decentralized tools such as DEXes gain more prominence. In addition to being a centralized exchange, Bybit previously added a whole "Web3" section to its website and apps, providing services such as a DEX and a staking service. And now it's appliying that approach to the competition as well.
It's not the only thing that sets WSOT 2024 apart. Some of the others are:
— ROI Reset Card
If someone gets in the negative, this card provides the ability to reset it and get a fresh start. So a competitor may be less afraid at making mistakes.
— UTA Subaccounts
Now a competitor may participate both with a main account and up to four "subaccounts". That helps to maximize the rewards.
— Prize pool
As usual, it's in the millions (10 000 000 USDT this time, to be exact). What's changed is additional prizes: last year there were Rolex watches and a Lamborghini Spyder, now it's a yacht instead of a Lamborghini, and there's a new prize option: world tours with the plane tickets and hotels paid for.
— Partnerships and sponsorships
As usual, WSOT has partners, ranging from builders of crypto products to key opinion leaders. But this year it's promised there will be a record number of livestreams with them. Also, Bybit is contributing to sponsor an Ethereum security hackathon called Attackathon.
Background info
Bybit is one of the world's most popular crypto exchanges. Its headquarters is in Dubai (fun fact: this office has a full-scale copy of a RB19 race car in it). Bybit holds World Series of Trading competition annually since 2020.