Bybit Launches Upgraded Web3 Platform With $200,000 Incentive Pool

Generated by AI AgentCoin World
Friday, Aug 8, 2025 9:08 am ET1min read
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Aime RobotAime Summary

- Bybit, the world's second-largest crypto exchange, launched an upgraded Web3 platform integrating DeFi features into its centralized trading system.

- The platform enables seamless on-chain trading via a unified account and offers a $200,000 reward pool with two events to incentivize participation.

- Bybit's hybrid model bridges centralized and decentralized ecosystems, with future plans for on/off-chain arbitrage opportunities to enhance trader utility.

- Serving 70 million users, Bybit aims to connect TradFi and DeFi through secure infrastructure and partnerships with leading blockchain protocols.

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has launched an upgraded version of its Web3 platform following a restructuring period that began in May 2025. The new Bybit Web3 aims to simplify on-chain experiences for users, integrating decentralized finance (DeFi) functionalities directly into its centralized trading platform [1]. This strategic upgrade removes the need for users to manage multiple Web3 wallets and gas tokens, enabling seamless on-chain trading and DeFi activities using only a Unified Trading Account (UTA) with assets like

USDT
,
USDC
, SOL, or bbSOL [1].

The platform allows users to trade popular on-chain assets such as TUNA, PUMP, FRAG, and others on the

Solana
network, offering a bridge between centralized and decentralized ecosystems [1]. This development underscores Bybit’s efforts to make on-chain trading accessible to a broader audience without sacrificing the user-friendly experience of traditional exchanges.

To incentivize participation, Bybit has launched a limited-time prize pool offering 200,000 USDT in rewards through two events running until September 7, 2025 [1]. The first is a task-based reward system where users earn Lucky Draw Tickets—by making their first Web3 trade in any amount, for instance—to compete for a 120,000 USDT prize pool. The second is a performance-based competition where traders can vie for the top spots on volume-based leaderboards for a chance to win up to 80,000 USDT. Rewards are distributed on a first-come, first-served basis, subject to specific terms and conditions [1].

Bybit Web3 is positioned as a hybrid model that fuses the potential of Web3 with the convenience of centralized finance. The platform is also planning to introduce on-chain and off-chain arbitrage opportunities in the future, further enhancing its utility for traders and investors [1].

Founded in 2018, Bybit serves over 70 million users globally and is known for its secure custody solutions, diverse marketplaces, and intuitive user interfaces. The firm partners with leading blockchain protocols to build robust infrastructure and drive on-chain innovation, aiming to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi) [1].

Source:

[1] title: The New Bybit Web3 is Here--Fueling On-Chain Thrills with $200,000 Up for Grabs

url: https://cryptodaily.co.uk/2025/08/the-new-bybit-web3-is-here-fueling-on-chain-thrills-with-200000-up-for-grabs