Bybit's biggest annual event, WSOT, is officially back! This year, WSOT 2024 introduces a new Web3 project competition: WSOT DEX Wave. All Web3 supporters are welcome to join!

What is WSOT DEX Wave?

The WSOT DEX Wave is a new event hosted by Bybit. Dozens of featured projects are participating in the event, allowing supporters to explore a variety of projects and vote for their favorites using the Bybit Web3 Wallet. The top 10 projects will be selected, and supporters can vote for their preferred projects to share in the daily rewards pool and ultimate rewards.

What is the event period for the WSOT DEX Wave?

Event Period: Oct 1, 2024, 10 AM UTC – Oct 31,3 2024, 10 AM UTC

• Users can join the event at any point, but the earlier you participate, the more Voting Points you can earn.

How can I participate in the WSOT DEX Wave?

1. Visit our WSOT 2024 main page, and click on WSOT DEX Wave to access the event landing page. After connecting your Bybit Web3 Wallet (the event supports Bybit Cloud Wallet / Bybit Seed Phrase Wallet / Bybit Keyless Wallet), then click Register to complete your participation.

2. Choose your preferred project to support and earn lucky draw chances while accumulating Voting Points to share the rewards from the total prize pool!

3. Depending on the event phase, the number of projects each wallet address can support will decrease over time. The event lasts for four (4) weeks, and the number of projects you can support weekly will be reduced as follows: 3 > 3 > 3 > 1

• Oct 1, 2024, 10 AM UTC – Oct 8, 2024, 9:59 AM UTC: 3 projects per day
• Oct 8, 2024, 10 AM UTC – Oct 15, 2024,  9:59 AM UTC: 3 projects per day
• Oct 15, 2024, 10 AM UTC – Oct 22, 2024, 9:59 AM UTC: 3 projects per day
• Oct 22, 2024, 10 AM UTC – Oct 31, 2024, 10 AM UTC: Final stage, where you can support only 1 project per day.

Note: You can support different projects each day, but once you reach the daily limit, you won’t be able to support more projects for that day. You can view your supported projects in the Projects I Supported section. 

• If you are participating in WSOT DEX Wave through the Bybit App, make sure your app version is 4.14.5 or above.

How will the WSOT DEX Wave be conducted?

WSOT Dex Wave brings together multiple projects to compete. You can choose a project to support based on your preference. After selecting a project, you can earn and contribute Voting Points to both yourself and the project by completing daily tasks and voting for the project.

Projects will be ranked based on the points they accumulate. Each week, the bottom five (5) projects in the rankings will be eliminated and won’t advance to the next stage.

In the final stage, the top 10 projects with the highest points will win. All users who supported these projects will share rewards from the project’s prize pool based on the Voting Points they contributed. The more Voting Points you contribute and the higher the project's ranking, the more rewards you'll earn. Rewards can be stacked.

• Example: If you contributed Voting Points to three (3) different projects among the Top 10 winning projects, you’ll be able to share rewards from each project’s prize pool based on your contributions.

• After WSOT DEX Wave ends, some of the Voting Points you’ve accumulated will be converted into Web3 Points, which can be used to redeem rewards. Stay tuned for the Web3 Points update!

What types of tasks are there in WSOT DEX Wave?

1. One-time project tasks: Follow the project’s official social media account.

   • Click the Follow button in the project window on the landing page, which will take you to the project’s official page to follow.

2. Daily check-in tasks:

   • Explore the project's WSOT profile, complete tasks via the provided link, and share on X. After finishing these daily tasks, you can vote for the project and enter a lucky draw for a chance to win rewards.

What rewards can I earn by participating in the WSOT DEX Wave?

The total prize pool for WSOT Dex Wave is 1 million MNT, divided into daily rewards and the final grand prize:

1. Daily Rewards: After completing tasks and voting, you can enter the daily lucky draw, but please note that winning is not guaranteed. You can enter the lucky draw as many times as you’ve voted each day, and the number of daily draws resets based on daily voting.
   
   
2. Grand Prize: During the event, if you vote for the top 10 final projects, you’ll share rewards of 800,000 MNT, which will be distributed to supporters based on the projects they vote for and the number of Voting Points they have. At the end of the WSOT Dex Wave event, the top 500 supporters of the top 10 projects will share a 360,000 MNT prize pool. Supporters with contributions of over 200 Voting Points will share 240,000 MNT. Additionally, supporters of projects that are not in the top 10 but have contributed more than 1,000 Voting Points will share 200,000 MNT. Earn extra Voting Points to climb the ranks. If points are tied, the trading volume on DEX Pro will determine your ranking.

2. • Reward calculation formula: Project prize pool × your project Voting Points / total Voting Points from all eligible supporters.

     • Note: To qualify for a share of the reward, your project Voting Points must be 200 or higher.

     • If users have the same Voting Points, rankings will be determined based on account trading volume.
3. Sunshine Prize: If you contributed to a project that didn’t make the top 10, you’ll still share rewards with other eligible supporters.
   • Reward calculation formula: Total prize pool × your Voting Points / total Voting Points from all eligible users.
     • You’ll need at least 1,000 Voting Points to qualify for a share of the 10,000 MNT Sunshine prize. 

Note: 

– Rewards can be stacked. For example, if five (5) projects you supported make it to the final top 10, you’ll be able to earn rewards from all five (5) projects.

– Actual conditions will apply. Unfair participation, such as artificial inflation of activity, will result in disqualification from rewards.

Why can’t I continue supporting certain projects?

1. The project may not have advanced to the next stage, so you can support other projects to continue earning Voting Points.

2. The project might also have been removed due to unforeseen circumstances, by the event terms.

What are WSOT DEX Wave Voting Points?

Project Voting Points: These are used to rank the projects.

Points come from the project's Bybit Spot trading volume, external support, and contributions from supporters.

1. Voting Points (Spot):

• During the event,  Voting points will be calculated based on Bybit Spot trading volume and updated daily. If the project is not listed on the Spot market, it will automatically receive 10,000 Voting Points daily. 

2. Voting Points (Ecosystem):

• Projects receive additional Voting Points if they gain official support from ecosystem partners.

3. Voting Points (Supporters):

• Voting Points earned from votes cast by supporters during the event. If any suspicious behavior is detected, such as vote manipulation, the corresponding points will be removed to ensure fairness.

4. Voting Points (Bounty Quests):

• During WSOT, special Bounty Quests will offer rare Voting Points through hidden challenges.

User  Voting Points: These are used to rank project supporters and determine eligibility for rewards.

1. Project Check-in Tasks: Complete daily check-in tasks to earn Voting Points.

2. DEX Pro Trading Volume: Earn Voting Points based on your trading volume on DEX Pro. 

These Voting Points will later be converted to Web3 Points, which can be used to redeem rewards after the Web3 Points update.

Why can’t I participate in WSOT DEX Wave on the Bybit App?

If you're participating via the Bybit AppP, please ensure your app version is 4.14.5 or above.

When will I receive rewards if eligible?

You will receive your rewards within 30 days. This period allows us to calculate rewards and exclude addresses with suspicious behavior. Follow our announcements for more information.