Cryptocurrency exchange Bybit marks its fifth anniversary with the unveiling of a trading competition and the introduction of a non-fungible token (NFT) collection.
Dubbed “#High5Bybit,” the competition prompts participants to undergo a personality test gauging their trading tendencies. The test, comprising questions related to trading preferences, categorizes participants into distinct personalities like Conservatist, Negotiator, Explorer, and others.
Upon identification of the personality type, Bybit airdrops a customized NFT for each category. The NFT collection boasts 16 distinctive designs, with a supply of 10,000 for each design. These NFTs can be held, traded on the Bybit Marketplace, or combined with other NFTs to create unique and rarer versions.
In alignment with the personality outcome, Bybit assigns a four-letter code representing the defining traits of the specific personality. For instance, ‘I’ for introversion, ‘F’ for feeling, and so forth. Each four-letter code represents a team that participants can join for the upcoming competition.
Scheduled to commence on December 4 and conclude on December 25, 2023, the trading competition will allocate users into 16 teams based on their trading personality archetype. With a prize pool reaching up to 800,000 USDT, the competition will rank teams based on the aggregate trading volume of their top 1,000 participants.
Since its establishment in 2018, Bybit has rapidly ascended to become one of the leading cryptocurrency exchanges, ranking as the world’s third-largest in terms of trading volume.
In 2022, the exchange recorded a daily trading volume surpassing $4 billion. During the same year, Bybit introduced a Crypto Loans Service on its platform, enabling users to borrow and repay loans at their convenience without penalties. As of 2023, Bybit has amassed a user base of 16 million worldwide.
