Eligible participants for the Bybit x SignalPlus Options Grand Prix may also trade perpetual and futures. However, the volume will be discounted by 50% when the rewards are being calculated.
By Godfrey Benjamin
Edited by Julia Sakovich
Updated
3 mins read
Popular cryptocurrency exchange Bybit has inked a new strategic partnership with SignalPlus, an options trading platform to propel a competition dubbed Bybit x SignalPlus Options Grand Prix. The competition is a two-phase event where participants get to compete for a share of a 100,000 USDC prize pool as well as other prizes.
“We’re excited to partner with SignalPlus on the Bybit x SignalPlus Options Grand Prix,” said Hao Yang, Head of Financial Products at Bybit. “With a massive prize pool of 100,000 USDC and exciting team and individual rewards, we’re expecting an energetic and competitive event. We encourage everyone to join us and experience the thrill of options trading on Bybit and SignalPlus.”
Yang also touted the competition as an opportunity for experienced options traders and novices who wish to sharpen their skills. The first phase, the semi-final, will span from May 8 through May 24, 2024. The final lap will be from May 8 to June 8, 2024.
Several traders can pull forces together as a team and stand a chance to win up to 8,500 USDC. The top four performing teams are eligible for this prize money. The participants will be judged on the basis of trading volume and total transaction count amongst others. Noteworthy, having several team members with a trading volume of over 500,000 USDC in each stage, can help push the ranking of a team higher than its rivals.
During the time frame of the competition, eligible teams will participate in a lucky draw daily. The winners, five team members, will go home with 50 USDC each while the overall winner for each day will score an unforgettable 3D2N Thailand getaway.
For those who decide to participate in the two phase competition as an individual, several other prizes would be available for wins during the Bybit x SignalPlus Options Grand Prix. The top ten contenders from this category could walk away with as much as 150 USDC per individual. Interested teams and individuals are required to register before they can participate in the competition.
Eligible participants for the Bybit x SignalPlus Options Grand Prix may also trade perpetual and futures. However, the volume will be discounted by 50% when the rewards are being calculated.
On the other hand, residents of Spain, Brazil, Hong Kong, Netherlands, and the United Kingdom are prohibited from participating in this event. Meanwhile, this is only one of the top activities that Bybit has launched in recent times, underscoring its commitment to engage with its users.
Last week, the exchange announced plans to make Notcoin, a Telegram-based play-to-earn game, available for trading later this month. Similarly, Bybit simplified crypto purchases globally by integrating Google Pay.
This integration allows users across 35 currencies to buy cryptocurrencies effortlessly with just one click.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
