The inaugural World Series of Trading WSOT hosted by the Singaporean crypto exchange Bybit Bybit has successfully concluded, handing over $1.27 million in prizes to its triumphant participants. This milestone accentuates another successful chapter in Bybit's esteemed series of high-stakes crypto competitions, cementing its place in the burgeoning world of cryptocurrency derivatives.
Bybit Triumphs with the Completion of Another Thrilling Crypto Trading Showdown
Bybit made the announcement in a press release shared with Blockonomi on Thursday (September 3, 2020). As per the report, the competition saw participants clinching a cumulative prize of about $1.27 million.
The South Korean squad W.T.C emerged as the event heavyweights, claiming victory in the BTC Troop Showdown, the hallmark competition of WSOT. Team member “Junki84” also claimed the top prize in the USDT Solo Throwdown division.
Jalapeño team was steered to a proud second-place victory under the leadership of their captain, Salsa Tekila. With a personal profit and loss rate at a whopping 3,956.56%, Tekila also highlighted the individual records. Live Traders Suck, led by Mike McDonald, rounded out the top three finalists.
In total, 135 teams joined the WSOT's debut, attracting around 12,368 traders from across the globe. These competitors vied for a shared 100 BTC prize pool in the team division and sought to win from a 90,000 USDT fund in the individual category.
Besides the top accolades, participants also reportedly revelled in an array of bonuses and perks, such as fee waivers on trades and branded merchandise. Previously, reported as reported by Blockonomi, WSOT enhances Bybit's gaming calendar by doubling the prize pool of their 2019 BTC Brawl, which initially offered a 50 BTC total pot.
Reflecting on the triumphant launch of WSOT, Bybit's CEO Ben Zhou commented:
We are thrilled to share the excitement of competitive trading with our crypto community through WSOT and are extremely appreciative of the phenomenal enthusiasm and support it garnered. We look forward to an even grander return in the next edition.
Decentralized Finance Continues to Forge Ahead
In addition to rewarding contest champions, WSOT also reached a significant milestone by channeling funds for charitable causes. As of July, Blockonomi disclosed reported that Bybit has allocated a $100,000 donation from the WSOT prize pool in an effort to assist UNICEF with its COVID-19 relief initiatives.
This $100,000 contribution primarily aims to support children harshly impacted by the ongoing coronavirus outbreak. At the time, a statement from UNICEF New Zealand expressed that Bybit’s donation would help bridge the financial shortfall in delivering humanitarian aid to over 1.6 billion children affected worldwide.
Bybit, along with other crypto enterprises, continues the positive trend of crypto firms actively contributing to communities affected by both local and global catastrophes. Corporations such as Binance and Ripple have shown similar goodwill through their internal charitable organizations. contributed funds to frontline workers combating the coronavirus pandemic .
