It's that time of the year where we put pedal to the metal on trading, going all out with the World Series of Trading (WSOT) — the biggest trading competition at Bybit!
This 2022, we launched WSOT 2022: Race to The Next Level, with a prize pool of up to $8,000,000!
Needless to say, a trading competition on this scale involved the entire Bybit organization. As usual, we exercised our "Listen, Care, and Improve" philosophy in everything we do — taking utmost care to address your feedback and enhance WSOT 2022 to provide a next level trading competition.
Here are six main improvements we made for WSOT 2022:
1. Ease of Participation Requirements
In WSOT 2021's Troop Showdown, participants were required to have more than or equal to 0.03 BTC or 0.45 ETH In their wallet at the time of registration. This amount was approximately $1,500, depending on the exchange rate at the time of registration.
For WSOT 2022, we reduced the participation requirement to 500 USDT for both Squad and Solo Races. This reduced the monetary barrier to entry, allowing more participants to join in the competition, and experience the joy of trading!
2. Longer Registration Period to Form Squads
We received feedback that the registration period for WSOT 2021 was too short and Squad Leaders didn't have sufficient time to recruit members and form a team.
To improve the situation, we extended the registration period in WSOT 2022 from 11 days to 18 days. This allowed more time for Squad Leaders to recruit members, while allowing traders to deposit funds into their account to get started.
Overall, Affiliate Squad Leaders had more time to gather their troops and there was a stark improvement in the number of troop leaders. Furthermore, there were also fewer issues with Squad Leader registrations this year, leading to a smoother creation of squads.
3. Attractive Prizes Up For Grabs
To say that WSOT 2022 is exciting is an understatement. We increased the prize pool from $7,500,000 to a whopping $8,000,000! Additionally, there are plenty of opportunities for participants to earn bonuses, simply by signing up as a new user or completing tasks.
Also, we ramped up the NFT prizes for WSOT 2022. Previously we issued unique Country NFTs designed and minted by Bybit. This year, we gave away popular NFTs like Mutant Ape Yacht Club (MAYC) as part of our Daily Lottery giveaway.
To give users a roundup on all the WSOT 2022 prizes and rewards, we published an FAQ article with a comprehensive summary of information. Click here to learn more.
4. Increased Chances to Win Prizes and Rewards
Whether you're competing as a solo trader or part of a squad, we want to keep the thrill of trading alive! To make the competition more exhilarating, we included additional prizes and rewards for all participants.
For new users to Bybit, you can earn up to $80 in BTC bonus simply by signing up. But, the fun doesn't stop there. With the Speed Zone Loot, we've got prizes galore to amp up the thrills of WSOT!
The Speed Zone Loot consists of two components — the Daily Lucky Draw and Daily Lottery. Simply complete a series of tasks to win guaranteed prizes; including DOGE, SHIB, X10 Current Asset Cards, and highly coveted MAYC NFTs.
These prizes are open to all participants, as long as you complete the requirements which are as easy as ABC!
5. Clear, Concise Rules for a Fair Competition
There were several cases of participants exploiting loopholes to get ahead in the competition last year. We understand this is a pertinent issue and our teams increased efforts to prevent rule violation in WSOT 2022.
In terms of communication, we displayed clear and concise rules on our WSOT 2022 landing page. We also increased the frequency of pre-event communication, enabling participants to better understand WSOT 2022's rules and regulations. Finally, we deployed more Bybit team members on competition surveillance to identify exploitation and ban users who violate competition rules.
6. Better Customer Support and Improved Reliability
WSOT 2021 was the biggest event for Bybit. For the customer service team, our initial processes were rather manual, resulting in slower responses to participants' emails.
For WSOT 2022, we anticipated an increase in participation. To enhance the overall customer experience, we briefed our team in multiple rounds and utilized more advanced AI systems. During the competition, our team shared insights on issues and challenges on a daily basis, allowing every agent to gain a better understanding of potential issues; troubleshooting issues and lending assistance promptly.
WSOT 2022 is more than just about trading. It's about the thrills of camaraderie and a sense of community in the crypto trading space.
But alas, all good things must come to an end. Stay tuned for more WSOT 2022 stories coming your way.
For now, let us know your feedback so we can improve and bring you a next-level WSOT 2023 trading competition!
Source: Bybit Blog
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