The competition is a newly-hosted initiative by Bybit and it has already attracted 12,368 participants vying for a shot of the 200 Bitcoin prize. The reward given amounts to approximately $2.5million.
The event was announced late in July and started on August 10, with traders going head-to-head for the prize fund. Bybit’s rules of participation are very simple. Traders must secure the best profit-loss ratio ahead of August 31 when the event ends.
As a participant, you can choose and trade as Solo USDT or BTC Troop. As the name suggests, the Solo USDT is focused purely on you completing on your own whereas the BTAC Troop requires players to trade together, as teams.
Once again, the scores are settled based on the best profit-loss ratio. To add even more focus to the event, Bybit has engaged a couple of well-know faces, including Jason Appleton and poker legend Doug Polk.
Poker professionals have become familiar sights around cryptocurrency competitions. Previously, Phil Ivey took part in a $12,000 challenge at Virtue Poker, a blockchain-powered card room.
Bitcasino.io hosted a charity tournament using poker as its game of choice. Bybit’s tournament name is borrowed from the World Series of Poker (WSOP), or at least that’s what it looks like. So far, the event has attracted a good number of traders, and it seems to be growing by the day at the competition continues to heat up.