In the last couple of days,
#Bybit officially announced a big event for
$USD1 , with a total prize pool of a whopping $10 million
$WLFI , which is quite aggressive.
They've just launched trading pairs like $BTC/USD1, $ETH/USD1, and $USDC, with more to come. Starting from May 6th, swapping USDC for USD1 and USD1 for USDT will have zero fees, instantly bringing down the cost of trading.
From April 22nd to May 6th, trading these USD1 pairs on Bybit will allow you to share in a $6 million $Spot prize pool. If you trade at least $500 using Bybit Alpha on the Mantle chain, you can also grab a share of a $1 million Alpha prize pool. From May 6th to 22nd, the Puzzle Hunt with sign-ins, trading, and inviting friends will let you vie for another $3 million.
Don’t just see this as a new user incentive; it's really about slowly shifting everyone's trading habits. When you normally watch Bitcoin's ups and downs, your first instinct is to price it in USDT, right? That’s the power of pricing. Now, with zero fees and rewards, they’re encouraging you to switch your trading to USD1 for Bitcoin and Ethereum.
As more people start quoting prices frequently in USD1, it won’t just be a stablecoin anymore; it’ll become the default benchmark for pricing. In finance, whoever is used as a reference holds the key to defining value.
#Binance is also stepping up with $15 million
$WLFI to reward users holding USD1, with on-chain circulation stable at over $4 billion, truly capturing real funds. The WLFI team proposed that insiders first handle 10% of their chips before locking them for the long term, showing a commendable level of sincerity in taking action first.
This design is highly efficient but also quite sharp. In a mature market, the ultimate reliance is still on a smooth trading experience. USD1 is moving fast logically now, and the next step will likely focus on enhancing user experience.
At the end of the day, many are still calculating how much reward they can get from this wave, but I’m more concerned about what we will subconsciously use to price things in the future. Once a habit is formed, many things will truly never go back. The move
#USD1 is all about a long-term shift in the reference system.