Bybit launches crypto battle between blue chip giants and memecoins
Participants back their favorite team, with Team Blue Chip and Team Memecoin
Bybit has launched an exciting event, pitting the reliable giants of the crypto world, like Bitcoin (BTC) and Ethereum (ETH), against popular memecoins known for their social media-fueled rallies. Participants are invited to join either Team Blue Chip or Team Memecoin, with the winning side claiming the larger share of a 200,000 USDT prize pool. The results of this head-to-head showdown will be announced on November 16, 2024.
In this unique event, participants can show their support for either of the two types of digital assets by completing specific tasks to earn votes. Team Blue Chip, with stable coins like BTC and ETH, offers rewards for participants who maintain high trading volumes on select contracts, while Team Memecoin, featuring assets like PEPE and DOGE, has lower volume requirements. Both teams will compete for a substantial prize pool, with the winning team receiving 128,000 USDT and the runner-up securing 32,000 USDT.
How to participate and earn votes
To join, participants must register on Bybit and complete a series of tasks to gain voting rights for their preferred team. Tasks include achieving specific daily trading volumes for each asset type, with Team Blue Chip requiring a daily trading volume of $10,000, and Team Memecoin setting a threshold of $1,000. Additionally, participants can earn extra votes through cumulative trading milestones or by supporting both teams through “Double Voting,” which grants votes for each team based on deposit volumes or successful referrals.
This event also introduces a fun twist with Mystery Boxes. Each task completion gives users a chance to open a Mystery Box, which contains rewards worth up to 40,000 USDT, including token airdrops and trading coupons. This feature provides participants with additional incentives and adds a touch of excitement to the competition.
Prize pool distribution and rules
At the end of the event, the prize pool will be distributed among participants based on their voting contributions. The winning team will share 128,000 USDT, while the losing team will split 32,000 USDT. Participants’ rewards will depend on the number of votes they contributed relative to the total votes of their team, making active engagement a key factor for maximizing potential winnings.
Bybit’s event taps into the growing enthusiasm for both traditional crypto assets and newer, high-risk investments like memecoins. This showdown not only offers financial rewards but also underscores the dynamic nature of crypto markets, where both stable investments and high-risk trades have unique appeal.
Let us recall, we previously reported that the National Bank of Georgia granted Bybit cryptocurrency exchange a Virtual Asset Service Provider (VASP) license.
