WSOT 2022: Bybit gathers traders for global crypto contest

07.06.2022 10:40
WSOT 2022: Bybit gathers traders for global crypto contest

YEREVAN, June 7. /ARKA/. Athletic competitions have been held for thousands of years in all parts of the world; in recent years the cyber sports have become popular. But there is a new type of competition that has appeared on the horizon - crypto-trading. The development of crypto exchanges goes hand in hand with the growth in the number of traders, so it is natural that at some point there is a desire to compete with other market participants.

The World Series of Trading (WSOT) has long been a landmark event in crypto trading, and this year will be no exception: registration for WSOT 2022 will start on June 10, 2022. Players will compete in the world's largest crypto trading tournament for a share of the record-breaking prize pool consisting of up to 8 million USDT, non-fungible tokens (NFTs) and other perks and giveaways.

To champion crypto as a force for empowerment for girls' education, through the flagship event, Bybit will be donating $400,000 in Bitcoin to UNICEF.

WSOT blurs the lines between virtual and "physical" sports. Competing on skills, speed and split-second judgment, the star guests will navigate the crypto sphere with traders from around the world, making WSOT 2022 the platform for crypto lovers to challenge world champions in esports.

Bybit organizes the WSOT crypto competition to recognize traders who have achieved the best profit/loss ratio, regardless of the investment amount. During the competition, traders are ranked according to their profits and losses by the following formula:

Individual P&L = [Capital on account - Initial capital + Withdrawal amount during the contest - Deposit amount during the contest],

Start Capital = amount of capital at the start of the contest (including unused P&L and/or bonus),

Final Capital = amount of capital at the end of the event (including unused P&L and/or bonus).

WSOT this year is all about racing to the next level," said Ben Zhou, co-founder and CEO of Bybit. "We want to encourage gamers, traders, and teams to join us in a spirit of competition and distinguish themselves at the world's greatest crypto trading tournament. We also want to use this opportunity to amplify the positive impact of crypto: improving financial literacy and financial inclusion, and putting wealth back in the hands of the common people."

Last year, WSOT 2021 saw 35,000 participants who unlocked a record $4.09 million of the prize pool and 1,339 NFT awards. Team players from 136 eligible regions formed or joined 196 troops in the main event, with the top team making 20x in earnings. Nearly 20,000 solo players took part in the individual competition, where the winner delivered a profit and loss ratio of 7,265.94%.

New level race

Bybit doubled the WSOT 2022 prize pool to 8 million USDT and organized three "race tracks" for the competition: the Individual Rally, the Squad Rally and the Fast Lane Trophy to appeal to crypto enthusiasts around the world.

""The global WSOT community has unlocked a total of over $5 million in prizes in the past two years. And we are presenting an $8-million prize pool this year to share our passion for crypto with as many people as possible," Zhou said.

"WSOT embodies what Bybit is all about: providing an honest, fair, level playing field for traders to capitalize on their talent. We built this ultra-fast platform trusted by the world's most competitive traders and loved by crypto beginners, because we believe that in the new world of the digital economy everyone should have equal opportunities and the ability to capture wealth with the power of technology,"  added Zhou.

Public registration for WSOT 2022 is open globally where Bybit services are available on June 10. While the trading contest period is from June 27 to July 17, 2022, participants can expect a series of perks, task-based and bonus rewards, fee waivers and lucky draws throughout the summer.

With Bybit's significant market depth and best-in-class liquidity, participants can look forward to going further in trades and enjoy maximum profitability to rank higher on the leaderboards. Additionally, Bybit's 24/7 multilingual customer support is available to ensure participants get the support they need and have a timely solution to their trading challenges along the way.

Time to contribute

Through participating in WSOT, participants will be supporting UNICEF's work to ensure all children have access to quality digital education. Bybit is committed to furthering its partnership with UNICEF Aotearoa New Zealand to empower girls' education in East Asia and the Pacific with another BTC donation equivalent to $400,000 at WSOT 2022 Bybit, or 5% of the prize pool plus contributions.

The donation is dedicated to the UN's Sustainable Development Goal No. 4 towards "inclusive and equitable quality education" via UNICEF efforts. It helps fund, among other initiatives, digital education for girls in the region by making science and technology education within reach for marginalized groups with innovative education solutions.

"In order to overcome global challenges and ensure a level playing field for future generations, we must bridge the gender digital divide and support the further education of girls," Zhou said. "We are grateful for the opportunity to use our platform and resources to support UNICEF's efforts to ensure all children have access to quality education, especially the most vulnerable groups, Bybit’s CEO says. -0-


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