Bybit Unveils Exciting New Web3 Platform With $200,000 Prize Pool

Bybit Launches New Web3 Platform

Bybit, recognized as the second-largest cryptocurrency exchange globally by trading volume, has officially announced the launch of its innovative Web3 platform. This new venture marks a significant advancement in their Web3 infrastructure aimed at providing millions of users worldwide with enhanced access to blockchain technology, trading capabilities, and decentralized finance (DeFi) features.

Revitalizing On-Chain Trading

Following a pause in operations during May for restructuring, Bybit's new Web3 initiative emerges stronger than ever. The platform promises a revamped on-chain trading experience that simplifies user interaction with blockchain assets. Users are no longer required to grapple with complex configurations traditionally associated with on-chain trading. Bybit Web3 integrates essential DeFi functionalities, allowing traders to leverage on-chain benefits seamlessly within a single platform interface.

By utilizing the Unified Trading Account (UTA), users can now engage in on-chain trading and DeFi activities without the previously necessary setup of multiple wallets or guest tokens. Bybit Web3 allows easy trading of popular on-chain assets such as TUNA, PUMP, FRAG, and others, set within the Solana network. This strategic upgrade not only streamlines the trading experience but also enables users to transition effortlessly between the centralized exchange and the Web3 platform.

Exclusive Prize Pool Events

To celebrate the official launch, Bybit is hosting two exciting events running from today until September 7, 2025, featuring a total prize pool of 200,000 USDT. Users can participate in the following:

1. Task-Based Rewards: Users can earn Lucky Draw Tickets by completing tasks such as executing their first Web3 transaction. Completing these tasks will grant them entry into the draw for a share of 120,000 USDT.

2. Performance-Based Competition: More experienced Web3 traders can compete against one another based on trading volume on the leaderboards, with a chance to win up to 80,000 USDT. Participants are encouraged to act swiftly, as rewards will be distributed on a first-come, first-served basis.

By emphasizing a combination of the advantages from both Web3 and a conventional trading environment, Bybit Web3 aims to empower users with increased flexibility and support in their trading endeavors. Moreover, the platform's roadmap includes upcoming features such as arbitrage opportunities that span both on-chain and off-chain environments, setting a new standard for users looking to gain an edge in the competitive crypto landscape.

About Bybit

Since its inception in 2018, Bybit has been at the forefront of crypto trading, facilitating a global community of over 70 million users. The company prides itself on fostering openness in the decentralized world by developing an inclusive and accessible ecosystem for all. With a growing focus on Web3, Bybit collaborates strategically with leading blockchain protocols to bolster infrastructure while driving on-chain innovation. The company is well-known for its secure custody solutions, diverse marketplaces, intuitive user experience, and advanced blockchain tools.

By bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi), Bybit enables builders, creators, and enthusiasts to unlock the full potential of Web3. To discover more about the future of decentralized finance and the new Bybit Web3 platform, visit Bybit.com.