Bybit launches 300,000 USD1 prize raffle
Bybit raffles 300K USD1 to promote new stablecoin
Bybit has launched a major promotional campaign to mark the official listing of USD1, a U.S. dollar-backed stablecoin.
The initiative includes a 300,000 USD1 prize pool, split across two events aimed at boosting user engagement and promoting adoption of the new asset.
How it works
USD1 is a stablecoin pegged to the U.S. dollar, issued and operated by BitGo under license from World Liberty Financial, Inc. Each token is backed on a 1:1 basis with U.S. dollar cash deposits and short-term Treasury assets. Eligible users have the option to redeem USD1 directly for USD, while others can trade it on supported platforms. The stablecoin is also intended to play a central role in WLFI’s upcoming decentralized finance (DeFi) ecosystem.
The campaign will run through July 23, 2025. It features a 150,000 USD1 deposit bonus for new users, and a separate 150,000 USD1 trading reward pool for all participants who meet eligibility criteria.
New user and trader rewards
In Event 1, the first 5,000 new users who register on Bybit (traders from EU have to register here), complete identity verification, and deposit at least 100 USD1 (or 100 USDT and trade it for USD1) will each receive a 30 USD1 reward. This bonus is available on a first-come, first-served basis.
In Event 2, participants who trade at least 500 USDT worth of USD1 on the spot market will qualify for a share of the 150,000 USD1 trading pool. The more users trade, the larger their share — with rewards capped at 700 USD1 per user.
Bybit’s move to list and promote USD1 reflects growing interest in regulated stablecoins, especially those backed 1:1 with cash and short-term U.S. Treasuries. USD1, issued by BitGo under license from World Liberty Financial, Inc. and is positioned for use on WLFI’s upcoming DeFi platform.
Market outlook and implications
The promotional push may help Bybit strengthen its position in the stablecoin trading market while introducing users to USD1 as an alternative to USDT and USDC. With reserves audited by independent third parties, USD1 adds a layer of transparency that could appeal to risk-conscious traders.
As stablecoin competition intensifies, campaigns like Token Splash offer exchanges a strategic edge in capturing user attention and liquidity.
Reminder, Bybit launches HFT price prediction contest with 1,000 USDT grand prize.
