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

Generated by AI AgentCoin World
Friday, Aug 8, 2025 8:41 am ET1min read
Aime RobotAime Summary

- Bybit, the world’s second-largest crypto exchange, launched an upgraded Web3 platform to simplify on-chain experiences with integrated DeFi and TradFi features.

- The platform eliminates external wallet requirements, enabling seamless trading of stablecoins and Solana assets via a unified account, supported by a $200,000 rewards pool.

- Users can earn rewards through task-based incentives or trading competitions, with future plans to expand to on-chain/off-chain arbitrage opportunities.

- Bybit aims to bridge centralized and decentralized finance, targeting 70 million global users with secure tools to democratize DeFi access.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has launched a revamped version of its Web3 platform, aiming to simplify on-chain experiences for millions of users. The upgrade, announced on August 8, 2025, reintroduces the Bybit Web3 with enhanced features, including integrated DeFi functionalities and a streamlined interface. This marks a key step in Bybit’s broader strategy to bridge centralized finance (TradFi) with decentralized finance (DeFi), removing common barriers like the need for external wallets or gas tokens [1].

The platform enables users to access on-chain trading and DeFi activities through their Unified Trading Account (UTA), supporting stablecoins like

USDT
,
USDC
, and native assets such as SOL and bbSOL. This eliminates the complexity of managing multiple wallets, allowing seamless transitions between centralized and decentralized ecosystems. Users can now directly trade popular on-chain assets on the
Solana
network, including TUNA, PUMP, FRAG, and others [1].

To incentivize participation, Bybit Web3 has launched a limited-time prize pool offering 200,000 USDT in rewards. From August 8 to September 7, 2025, users can engage in two types of events: task-based rewards and performance-based competitions. Task-based rewards provide 120,000 USDT to participants who complete simple actions, such as making their first Web3 trade. Performance-based events allow more experienced traders to compete for up to 80,000 USDT based on trading volume. Prizes are distributed on a first-come, first-served basis, with specific terms and conditions applying [1].

Bybit emphasizes its commitment to innovation, with plans to introduce additional features such as on-chain and off-chain arbitrage opportunities in the future. The platform positions itself as a bridge between TradFi and DeFi, leveraging its partnerships with major blockchain protocols to support infrastructure and drive on-chain adoption [1].

Founded in 2018, Bybit serves over 70 million global users and is known for secure custody, diverse marketplaces, and user-friendly tools. The latest Web3 iteration underscores Bybit’s goal to democratize access to decentralized finance, offering flexibility and support in a rapidly evolving digital economy [1].

Source: [1] The New Bybit Web3 is Here--Fueling On-Chain Thrills with $200,000 Up for Grabs (https://coinmarketcap.com/community/articles/6895eda405f6c41c6f2e434d/)