Our weekly crypto derivatives analytics report delves into macro events and the current state of crypto and trading signals from spot trading volume, as well as futures, options and perpetual contracts.

Another week brought another risk-off event in the crypto market, reflecting its correlation with equities. Despite last week's sell-off, BTC outperformed the broader market with a milder decline, evident in its derivatives positioning. Options markets initially priced short-term volatility higher, but the inversion resolved quickly. In contrast, ETH experienced a sharper inversion, with significant spikes in short-term options and realized volatility. A liquidation event led to an estimated $10 billion loss in open interest for perpetual swap contracts, 

. This bearish sentiment was reflected in funding rates, with altcoins showing a more persistent negative trend post-crash as compared to BTC.

Open interest collapsed across major tokens, flipping funding rates negative, except for BTC. ETH's realized volatility surged above 140%, its highest level in over three months, with the implied volatility term structure spiking and remaining inverted days after the crash.

Please check out the report’s highlights.

Open Interest Falls During Painful Liquidation Event

Another Monday sell-off occurred alongside a decline in U.S. equities and other risk-on assets due to fears over Trump tariffs, leading to a drop in perpetual swap positioning. Nearly $3.1 billion in open interest was wiped out from the perpetual swap markets of BTC, ETH, XRP and SOL after a late-Friday high. This decline was likely driven by liquidated leveraged positions, as traders missed margin calls during the rapid drop in spot prices. Bybit CEO Ben Zhou estimated that the true notional value of liquidated positions across markets may have ranged from $8 billion to $10 billion. The sell-off also triggered the largest spike in trading volumes in over a month, with $31 billion in perpetual swap contracts traded on Feb 2, 2025 across the four major tokens’ markets.

Altcoin Funding Rates in Negative; BTC Clings to Neutral Rates

A second consecutive Monday-morning sell-off has kept perpetual swap funding rates low and negative, indicating excess demand for leveraged short exposure. This trend likely stems from the liquidation of long positions, due to the sharp correction in spot prices. Notably, altcoins' funding rates have shown more consistency since February 3, 2024, reflecting their steeper declines as compared to BTC’s.

ETH's spot price experienced a deeper correction than BTC’s during Monday's sell-off, dropping below $2.5K. Surprisingly, options market activity remained steady, likely due to fewer at-risk leveraged long positions to liquidate, thus keeping open interest levels firm. However, the spot move caused realized volatility to spike near 140%, with options markets pricing in a significant term structure inversion that has yet to be resolved. ETH's implied volatility is approximately 15 points higher than BTC's at equivalent tenors, indicating that traders expect continued volatility in ETH's spot price.

Advanced

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Feb 5, 2025): Record Liquidations Result From Perp; Traders Expect More Volatility in ETH

Victoria VR leverages AI and blockchain to enhance gaming with immersive VR experiences, AI-driven interactions, and a self-sustaining digital economy.

With over 3 billion gamers worldwide (and counting), the 

 industry needs to constantly find new and innovative ways to keep their myriad participants entertained and engaged. Technologies such as virtual reality (VR) and the 

, which include augmented reality (AR) and 

, have contributed substantially to creating an immersive gaming experience.

As the metaverse continues to unlock endless opportunities for the gaming world, Victoria VR has set out on a mission to integrate artificial intelligence (AI) to improve gaming experiences.

Let’s take a deeper look at Victoria VR and the way it’s leveraging AI to tap into the gaming metaverse and upgrade users' experiences.

Victoria VR is a blockchain-powered virtual reality (VR) AI metaverse designed to leverage AI and VR to provide an immersive web3 gaming experience. 

The Victoria VR blockchain project is on a mission to create a thriving and immersive infrastructure in which the gaming world can explore its metaverse in an enhanced way.

Through AI, Victoria VR provides gaming developers with AI tools to build immersive games in a secure, transparent and scalable ecosystem. With features like the VR AI Builder and AI Agents, Victoria VR provides an AI-powered ecosystem to interact with its metaverse.

Its native token, VR, is poised to provide users with a self-sustaining virtual economy in which gaming, blockchain, the metaverse and VR content creation can interact cohesively.

To shape the future of VR through an AI-powered metaverse for immersive gaming, Victoria VR has created the following features.

The VR AI Builder is designed to simplify developers' challenges when creating VR content. Currently, VR game development requires programming skills and significant resources in terms of time and money. However, the VR AI Builder is integrated with OpenAI, making it simple to use with simple text commands. With VR AI Builder, anyone can quickly create VR content, thereby reducing costs, saving time and supporting scalable growth. It also supports integrating new AI technologies as they continually emerge.

The VR AI Builder empowers both novices and experienced developers to create and expand virtual worlds, complete with games and assets. Furthermore companies can use the VR AI Builder to create virtual buildings, showrooms and storefronts; simulate training; and provide immersive experiences to their customers.

The VR AI Builder is driven by the VR token, which plays a crucial role in building and monetizing virtual worlds.

At the heart of Victoria VR’s metaverse are its AI Agents, autonomous and intelligent creations that can independently interact and adapt in a virtual environment. These agents learn user behaviors and preferences in order to provide customized and effective support.

Creating VR AI Agents on the platform is accessible to everyone, and doesn’t require advanced technical knowledge. Some specific roles these agents can perform include NPCs in games, shopping assistants in virtual stores and even virtual teachers.

VRtap is a Telegram-based clicker PvP game by Victoria VR that uses feng shui to immerse players in an elemental adventure, helping the project community stay connected and engaged.

Some of the features of VRtap include the following:

VR is the native token that powers the Victoria VR platform. It's designed to facilitate seamless interaction on the platform and ensure a self-sustaining economy. The total supply of VR is 16.8 billion tokens, with a current circulating supply of just under 6.85 billion.

As a utility token, VR has numerous use cases on the platform, including staking, governance and diverse use in powering Victoria VR's AI and gaming aspects.

The VR token is crucial to the self-sustaining aspect of Victoria VR's gaming pillar. It’s designed to ensure long-term sustainable value for the various stakeholders in the ecosystem.

The VR token is essential for accessing and monetizing the VR AI Builder feature. Builders need VR tokens to buy VR land in order to start using the feature. Once you have VR content, you can monetize it and receive payments in VR tokens.

Furthermore, the platform collects part of the fees generated through this feature in the form of VR tokens, which boosts circulation and enhances token utility.

The VR token helps create and fuel intelligent virtual experiences through VR AI Agents on Victoria VR. VR tokens’ use cases for VR AI Agents include the following:

VR tokens facilitate user interaction with the Victoria VR metaverse via both PC and mobile versions. Users can earn VR tokens through activities such as mining and community engagement. These tokens also ensure a cross-platform economy, whereby VR tokens earned from either version can be used across the Victoria VR ecosystem.

 Perpetual contract in the Innovation Zone with up to 20x leverage. Tokens listed in the Innovation Zone are typically from new projects that may be subject to higher volatility.

As of Feb 7, 2025, Victoria VR's price was $0.007863, a 98.7% drop from its all-time high (ATH) price of $0.61 on Dec 10, 2021, and a 67.7% increase from its ATL of $0.0047 on Jan 3, 2023.

Price prediction experts are cautiously bullish on the future price of the VR token. Experts at CoinCodex believe that VR 

 a maximum price of $0.01 in 2027, and increase to $0.03 in 2030. Meanwhile, DigitalCoinPrice’s forecasting experts believe that VR 

 $0.028 in 2027 and reach $0.0425 by 2030.

That said, these bullish predictions don't guarantee the future price of VR. We highly recommend you 

 before investing in VR or any other cryptocurrency.

Victoria VR is redefining the metaverse with its AI-driven, hyperrealistic virtual world. By blending blockchain technology with immersive VR, it offers an unparalleled digital experience so users can explore, interact and create with limitless possibilities.

Victoria VR’s integration of AI into gaming through the VR AI Builder and AI Agents gives it a competitive edge, and makes the project stand out in the web3 space, making its native token, VR, an asset to watch in the web3 space.

Beginner

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Victoria VR (VR): The Ultimate AI-Driven Metaverse Experience

Explore the difference between Spot and Perpetual Futures and find out how you can navigate volatile markets with these two trading methods.

Bitcoin moves 20% in an hour. Ethereum nose-dives as a whale dumps holdings. The crypto market is a poster child of volatility, and panicked traders may scramble. Others, calmer, may seize the chaos in order to profit. What separates these two outcomes? Often, it’s the trader’s hard choice of weapon.

Although spot trading and perpetual futures are both popular trading methods in crypto, their mechanics — and risks — are worlds apart. Spot trading offers simplicity and direct ownership, while perpetual futures provide leverage and flexibility. Each method carries its unique risks. 

In volatile markets, these tools behave differently, and a poor understanding of their dynamics can turn a calculated risk into a catastrophe. This article dissects spot and perpetual futures, explains why volatility amplifies their risks — and shows you how to choose the right strategy when markets go haywire. 

 is the buying or selling of a digital asset (like 

) for immediate delivery and settlement at its current market price. When you trade on spot, you directly exchange cash or 

 for the asset, with no expiration dates, 

You directly and physically own the asset as soon as the transaction is completed. The trade is settled on the spot (hence the name), meaning the exchange of the asset and the payment happen almost instantaneously, eliminating the risk of price fluctuations during the settlement period.

Say Bitcoin is priced at $100,000, and you buy 1 BTC on a spot exchange such as Bybit. You pay $100,000 (or equivalent in stablecoins) and immediately receive the Bitcoin in your wallet. If the price crashes to $90,000 the next day, your BTC is now worth $90,000 — a 10% loss. If, on the other hand, it surges to $106,000, your gain is 6%. The risk and reward are straightforward: you’re fully exposed to the asset’s price movement, with no amplified gains or losses. 

Here’s a visualization of the mechanics:

[Crypto Exchange] → [Deposit Fiat Currency/Stablecoins] → [Purchase Cryptocurrency on Spot Market] → [Wallet] 

 (or "perps") are derivative contracts or agreements to buy or sell an asset at a predetermined price at any time in the future. They let traders speculate on an asset’s price without ever taking ownership of it. 

Unlike traditional futures, which expire on a set date, perpetuals have no expiration — hence the name. Instead, they rely on funding rates to tether their prices to the underlying spot market. If combined with leverage, they’re a high-risk, high-reward tool for potentially profiting in volatile markets. 

Perpetual futures allow traders to use leverage, meaning the exposure is larger than the initial capital. For example, with 10x leverage, a $1,000 margin lets you open a $10,000 position. If Bitcoin rises 10%, your profit is $1,000 (10% of $10,000), doubling your initial margin. But if Bitcoin drops 10%, you lose your entire margin ($1,000) and face 

. Leverage magnifies volatility’s impact, turning small price swings into existential risks.

 is the collateral required to open a leveraged position (e.g., $1,000 for a $10,000 position at 10x), while the 

 is the minimum collateral needed to keep the position open. If your margin falls below this threshold, due to losses, you must add more funds or the exchange liquidates your position automatically. 

Let’s assume you open a 10x long on Ethereum with a $1,000 margin. If ETH drops 9%, your loss is $900, leaving $100 in margin. If the maintenance margin is 5% ($50), you’re still safe. But a 10% drop in Ethereum wipes out your margin, triggering liquidation. 

Funding rates are periodic payments (usually every eight hours) between 

 traders to keep perpetual futures prices close to the spot price. A positive funding rate exists when longs pay shorts. This happens when perpetuals trade above the spot price, incentivizing traders to sell (short). Negative funding rates — meaning that shorts pay long — occur when perpetuals trade below the spot price, encouraging buying (going long). 

In volatile markets, funding rates can swing wildly. For example, during a Bitcoin rally, excessive bullish sentiment may push perpetuals’ prices above spot prices, forcing longs to pay hefty fees to shorts. 

Trading a perp looks something like this:

[Trader’s Margin] → [Leverage (e.g., 10x)] → [Open Position] 

[Price Movement] → [Profit/Loss Calculated in Real Time] 

[Funding Rate Payments] (Every 8 Hours) 

[Liquidation if Margin < Maintenance Threshold] 

The Crucial Difference: Pricing Mechanisms

Traders must understand how prices are set in spot trading versus perpetual futures, especially in volatile markets, as mispricing can lead to unexpected losses or missed opportunities. 

 on a single exchange. When you buy Bitcoin on Bybit, the price reflects the highest 

 (sell order) in Bybit’s order book at that moment. When more people want to buy an asset than sell it, the price increases. Conversely, when more people want to sell than buy, the asset’s price drops.

However, spot prices can vary wildly between exchanges. High-volume exchanges, such as Binance or Bybit, typically have tighter 

 (smaller gaps between bid/ask prices). Regulatory restrictions and/or regional buying/selling pressure can also create price disparities. 

Perpetual futures prices aren’t tied to a single exchange. Instead, they track an index price, a weighted average of spot prices from multiple reputable exchanges. This arrangement prevents manipulation, and ensures fairness.

First, reputable exchanges with strong liquidity, such as Binance, Bybit and Kraken, are selected as contributors. Weights are then assigned based on trading volume, giving greater influence to exchanges with higher activity. The index price is computed using a weighted average, whereby (for instance) Binance contributes 50%, Bybit 30% and Kraken 20%, resulting in a balanced and representative market price.

Here’s a visual aid for the calculation: 

Index Price = (Binance Price × 50%) + (Bybit Price × 30%) + (Kraken Price × 20%).

Perpetual Futures Price ≈ Index Price + Funding Rate Adjustments 

Withdrawal halts occur when exchanges temporarily block users from moving assets off-platform. They are rare but catastrophic events, often triggered by extreme volatility, regulatory crackdowns or security breaches. These halts expose the fragility of spot markets, while highlighting the resilience of perpetual futures.

Imagine an exchange suddenly halts withdrawals. Its spot market turns into an isolated bubble, cut off from the broader crypto ecosystem. Here’s how this could happen:

 traders help balance prices across exchanges. If BTC is cheaper on one platform, some traders will buy it there and sell it on another where Bitcoin’s price is higher, keeping prices in sync. But when withdrawals are frozen, traders can’t move assets, making cross-exchange arbitrage impossible.

Let’s say Binance halts BTC withdrawals during a market crash. Panic selling on Binance drives BTC’s price down to $25,000, while on Bybit, it remains at $28,000. Under normal conditions, arbitrageurs would step in, buying cheap BTC on Binance and selling it on Bybit to close the gap. But with withdrawals locked, Binance’s price remains disconnected.

With liquidity trapped, bad actors can exploit the situation. A 

 could dump BTC on Binance, crashing its price to $22,000, while Bybit keeps trading at $28,000. Retail traders on Binance would suffer large losses as they’d be unable to transfer assets or take advantage of the price difference.

When withdrawals freeze, spot markets fracture, leaving traders stranded in a distorted price bubble, with no hope of escape until normal operations resume.

Perpetual futures contracts avoid the chaos of isolated spot markets by relying on an index price aggregated from multiple exchanges. This mechanism keeps them anchored to the broader market, even when individual platforms experience disruptions. 

For example, if Binance suddenly halts withdrawals, its BTC price may diverge from the rest of the market. However, because the index also includes prices from exchanges like Bybit and Kraken, it remains stable. Even with Binance carrying a 50% weight in the index, Bybit (30%) and Kraken (20%) ensure that the final calculation reflects a more accurate market value. This mechanism prevents traders from becoming trapped in a price bubble caused by a single exchange’s issues.

Another advantage is resistance to manipulation. If a bad actor tries to crash BTC’s price on one exchange, their influence on the index remains limited. To meaningfully distort the index price, they would need to control multiple major exchanges — a far more challenging and costly feat. 

This hardiness makes perpetual futures a more reliable option during crisis scenarios. Spot traders may get stuck with distorted prices when withdrawals are halted, but perps remain tethered to a broader market view. While they’re not immune to volatility, their reliance on aggregated data provides a crucial safeguard. However, traders must also consider funding rates and leverage risks.

Navigating a Withdrawal Halt: Staying Calm and Informed 

A crypto withdrawal halt — whether due to a flash crash, regulatory action or technical failure — can send traders into a frenzy. Prices may swing unpredictably as speculation runs wild and liquidity dries up. Nevertheless, survival in these moments is about keeping a level head.

Before making any moves, verify the situation. Fear-driven rumors spread fast, but official channels provide the facts. Exchanges like Bybit now offer real-time transparency on liquidations via their APIs, and CEO Ben Zhou has been vocal about publishing 

 during crises. Trust credible sources, not whispers from anonymous Telegram groups.

Emotional trading is the fastest way to lock in losses. Spot market prices on a halted exchange can detach from reality, plunging far below the broader market. Selling into that panic only benefits manipulators. Likewise, overleveraging on perpetual futures can backfire during times of extreme volatility. Traders who endure these moments best are the ones who stick to their risk management principles and wait for conditions to stabilize.

Bybit is setting new standards by committing to transparency, publicizing real-time liquidation data and encouraging open communication. During times of uncertainty, reliable data keeps traders grounded, helping them separate signals from noise and navigate volatility with clarity rather than fear.

Volatile markets test the strengths and weaknesses of both spot and perpetual futures trading. 

Cryptocurrency markets thrive on volatility, but surviving and profiting from volatility depends upon choosing the right tools. Spot trading offers direct asset ownership, simplicity and no liquidation risk, but it can be vulnerable to exchange-specific halts and price slippage during market turmoil. On the other hand, perpetual futures trading allows traders to profit in any market direction, benefit from leverage and avoid single-exchange manipulation through index-based pricing, but it also carries liquidation risks, complexity and funding rate costs. 

Regardless of your trading method of choice, risk management is crucial. Educate yourself and set 

 to minimize exposure. In addition, dive into Bybit’s 

 to sharpen your edge, and learn how to get started with 

Intermediate

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Spot vs. Perpetual Futures: Stay Ahead of the Curve in Volatile Markets

Ankr has been chosen to power TAC, a groundbreaking TON Network extension that brings full EVM compatibility to TON. 

The S&P 500 rose 0.36%, led by consumer staples, financials, and tech, as investors awaited the jobs report. Gold fell 0.38% to $2,852 amid rising yields and profit-taking before the jobs report but remains near YTD highs. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.81%, with Bitcoin and Ether dropping by 0.44% and 2.91%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is BERA, which surged nearly 3.0% following Berachain's mainnet launch and $632M BERA airdrop announcement.

Berachain (BERA), founded in 2021, is a Layer 1 blockchain with Proof-of-Liquidity consensus, ensuring security and liquidity while maintaining full Ethereum compatibility. Berachain launched its 

 on February 6, alongside a $632 million BERA airdrop to eligible users. Around 79 million BERA tokens were distributed, primarily to Bong Bears NFT holders. BERA serves as the network’s gas and staking token. Berachain uses a Proof-of-Liquidity consensus to enhance security and liquidity. Token allocations also include funds for community initiatives, ecosystem R&D, and institutional investors.

Check Out the Latest Prices, Charts, and Data of 

, a groundbreaking TON Network extension that brings full EVM compatibility to TON. TAC enables Ethereum developers to deploy seamlessly on TON while unlocking access to 100M active wallets and Telegram's 950M users. Built using the Cosmos SDK and Ethermint, TAC integrates Babylon’s Bitcoin staking protocol for enhanced security and decentralization. Assets like Teleport BTC (tgBTC), stTON, and tsTON will support restaking within TAC’s infrastructure. As the first blockchain leveraging Ankr’s Bitcoin Secured Infrastructure, TAC bridges Ethereum’s liquidity with TON’s scalability, advancing Web3 growth within Telegram’s ecosystem.

Yesterday, BTC Spot ETFs had $140.2M in outflows, with GBTC losing $42.2M and non-GBTC funds dropping $98.0M.

Kuroro Wilds, an Ethereum RPG on Ronin, launched a 

 campaign ahead of its KURO token launch. Players earn rewards by completing quests, social tasks, and referrals. The event offers 10M KURO and Treasure Eggs, running until mid-February. VIP pass holders get extra rewards, while top players can win additional prizes. KURO’s launch date is yet to be announced.

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Ankr Powers TAC to Bridge TON and Ethereum with Bitcoin-Secured Infrastructure for Enhanced Web3 Growth

Bybit Learn

Altcoins

The Worldcoin aims create the largest identity and financial public utility, via blockchain, to give universal access to the global economy. 

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Artificial intelligence (AI) has evolved significantly in recent years, reaching a level where differentiating between it and humans based solely upon online interactions is increasingly challenging. Modern AI has already created numerous problems for humans, for example in manipulating elections and the capacity to impersonate real people and others. The ability to determine the humanness and authenticity of content has far-reaching consequences for individuals, businesses and societies. Worldcoin plans to address this problem through a three-pronged approach — World ID, World App and Worldcoin token (WLD). 

 blockchain project’s ambitious vision is to create the largest identity and financial public utility to give universal access to the global economy.

Authenticating humanness among the world’s billions of people requires a unique approach. After all, the individualized humanness of one person must be differentiated from that of others without invading that individual’s privacy. Worldcoin’s developers have successfully approached this problem via the 

, a biometric technology that initially takes a picture of an individual’s eyes. This image is turned into a numeric sequence to confirm both humanness and uniqueness, and is the only personal information that’s revealed. This data is then stored securely in the World ID, which serves as a digital passport. 

As part of this identification and verification process, each person will receive Worldcoin tokens, thus enabling the global population to receive free money simply by scanning their irises. 

The CEO of OpenAI, Sam Altman, co-founded the Worldcoin project. Altman has focused on a three-pronged strategy to bring the project to life: Creating an individual’s global ID, developing the World App, and using Worldcoin tokens for purchases and other activities. Blockchain Capital led the Series C fundraising round, which garnered 

Worldcoin is developing the world's largest identity protocol, which functions like a digital passport and can be used worldwide. This digital passport is accessible via the individual’s phone. Worldcoin uses 

 to verify humanness and individuality, without gathering and storing personal data, thereby preserving privacy. 

The Orb supports this critical aspect of the app as an open imaging device, using biometrics to generate a World ID. In order to obtain a World ID, you need to download the World App and connect to a compatible wallet. Currently, this beta technology is only accessible in a few countries, but accessibility is expected to rapidly expand. Worldcoin Operators from around the globe help to operate the Orb, and earn Worldcoins by providing this service.

In order to prevent bot accounts, there’s a limit to the total number of accounts a user may create, but an individual can still open multiple accounts, since the protocol recognizes that humans may use pseudonyms. 

Once launched, Worldcoin will have numerous real-life applications, such as bot account prevention on social networks like Instagram and Twitter. It can also be used to vote in government elections and for DAO governance.

In the financial services arena, Worldcoin may play roles in collateralization processes, compliance and fraud detection. Customer incentives, such as coupons, loyalty rewards and free trials, can be distributed via Worldcoin. Worldcoin also facilitates fair money distribution for scholarships, government welfare programs, refugee aid and more. In addition, Worldcoin can directly address the serious problem of fake transactions and news. 

Worldcoin supports the accurate and expedited differentiation between AI and human content through three key features, each of which plays a critical role in the verification of humanness and in preserving individual privacy: World ID, proof of personhood and the World App. 

 is a permissionless, decentralized identity protocol that takes a privacy-first approach. It can be used during an individual's sign-in step for different crypto DApps, mobile apps and websites, allowing the user to confirm that they’re a human without the need to provide a name, email address or other personal data. 

The World ID may use biometrics or other methods to confirm humanness and individuality, for instance through the Orb, which is a privacy-preserving, open-imaging technology that can function in a trustless environment. 

To take advantage of the benefits of World ID, you first must create a compatible wallet account (unless you have an existing one). Then, connect your wallet to the World App. You’ll be prompted to verify your humanness and uniqueness. Several accounts can be created for those using pseudonyms. Once created, an individual can use their World ID as a type of digital passport. 

A critical aspect of Worldcoin is to identify a user’s individuality and humanness. This is explicitly accomplished by issuing an AI-safe 

 (PoP) credential on World ID. Proof of personhood, or PoP, enables an individual to prove their human identity online without relying on a third-party verification process, which can be time-consuming. 

PoP places a limit on the number of accounts an individual can create, providing an effective safeguard against 

. It also directly reduces the problematic spread of misinformation produced by AI. Online content and accounts are filtered to distinguish between AI- and human-generated content. 

PoP may also act as a spam filter, preventing identity theft and supporting digital collective governance. An individual World ID for each human user is generated to enable the functionality and benefits of PoP.

The Worldcoin ecosystem’s functionality is supported by the technology’s first wallet, 

, World App is an Ethereum-based wallet that uses smart contracts for security purposes, along with well-designed, advanced protocols to support a private digital identity for each user. Once a user creates a unique World ID, the PoP credential is established. 

 then allows the World App to link to any application to prove human identity. World App is also operational as a beta version on Polygon, with plans to launch on Optimism's OP Mainnet, a Layer 2 rollup network with Ethereum's security benefits.

World App also supports the increased adoption of cryptocurrencies, accomplished through an easy-to-use method via 

 that lets users easily buy and trade crypto without an intermediary. 

 (P2P) payments are made simple through the use of 

 (ENS), which creates human-readable names for user-friendly 

 transfers. The financial functionality of the app includes the ability to withdraw cryptocurrencies as 

 on debit cards and credit cards, as well as from bank accounts. 

The Worldcoin token (WLD) is an ERC-20 utility token with governance features that benefits from Ethereum’s security. It allows users to contribute to the platform’s direction and continued development. In addition to providing governance functionality to token holders, WLD facilitates the transfer and purchase of digital assets and fiat in a secure manner. It also supports compatibility with established services and tools for optimized functionality. 

Notably, the token is freely distributed to users around the world. The only requirement for receiving WLD 

 is to complete steps to confirm your uniqueness and humanness. Going forward, Sam Altman intends to provide regular income to users worldwide with WLD to cover basic needs, which he terms universal basic income. Worldcoin Operators can also earn WLD tokens via the Orb and through educating people about Worldcoin.

The Worldcoin project underwent a successful pre-launch phase from May 2021 to July 2023, allowing users in select countries who haven’t pre-registered to sign up for an account and receive WLD after verifying their humanness. The initial goal was to pre-register a couple of billion users before the mainnet launch. During this period, over two million individuals across 30 countries verified their World IDs at an Orb, leading to the allocation of more than 36 million WLD tokens. 

Upon launch, Worldcoin initiated the deployment of 1,500 Orbs globally to cater to the global demand for World ID. 

, which are distributed according to the following allocation:

At launch, there will be a maximum initial circulating supply of 136 million WLD, with 36 million allocated to Orb-verified individuals during the beta phase of the project, as well as 100 million loaned to market makers operating outside of the U.S.

The Worldcoin Foundation intends to work toward the following token allocation goal as the project develops:

Intending to purchase WLD tokens and trade them? Bybit is excited to announce the listing of Worldcoin (WLD) on our trading platforms.

To celebrate the above Worldcoin listings, Bybit is holding 

 in which you can earn a share of the 165,000 USDT prize pool.

Event 1: Deposit and Buy to Earn from a 60,000 UDST Prize Pool

Event Period: Jul 24, 2023, 7AM UTC through Aug 14, 2023, 11:59PM UTC

This event comprises a total of three subevents:

: Be one of the first 4,000 new users to complete the following three steps during the event period to win 10 USDT:

 (who created an account before Jul 24, 2023, 7AM UTC): Be one of the first 4,000 existing users to purchase at least 100 USDT/USDC worth of WLD during the event period to earn 5 USDT.

Looking to earn additional rewards? Simply deposit 25 WLD to your Bybit account to claim another 5 USDT in rewards! Please note that this reward will be distributed on a first come, first served basis to the first 4,000 users.

Event 2: Trade WLD to Earn from a 50,000 USDT Prize Pool

To participate in this event, you just need to accumulate a Spot trading volume of at least 200 USDT worth of WLD during the event period. Your final reward will be determined based on the proportion of your trading volume compared to the total trading volume throughout the event. 

If you would like to obtain a bigger cut of the prize pool, simply trade more!

Event Period: Jul 24, 2023, 7AM UTC through Aug 7, 2023, 11:59PM UTC

As mentioned above, simply stake through the Bybit Flexible Savings plan and earn up to 99% APR — and a total of 20,000 USDT worth of WLD awaits you! 

Event 4: Trade With Grid Bots and Share 5,000 USDT in Rewards

There are two subevents included in this event.

First, create at least one WLD/USDT or WLD/USDC Spot Grid Bot, and invest at least 200 USDT or 200 USDC. The first 4,000 users will share equally from the 1,500 USDT prize pool.

Event participants will be ranked according to their net profits from their WLD/USDT and WLD/USDC Spot Grid Bots. Rewards will then be distributed to the top 20 users.

Please note that participants must accumulate at least $50,000 in WLD/USDT and WLD/USDC Spot Grid Bot trading volume to be eligible for rewards.

Event 5: Refer Friends and Share 10,000 USDT in Rewards

Earn up to 1,025 USDT and 30% commission per referral when you refer a friend to Bybit! You can even receive an additional 5 USDT for every referee who completes the following three steps:

Please note that rewards will be distributed on a first come, first served basis.

As a utility token, WLD serves two primary purposes: confirming a user’s identity as a unique human, and supporting the purchase of digital assets. The coin currently has negligible value. However, another token with almost the same name has been experiencing a positive impact on its price with the news of Worldcoin. 

 (note the distinction of two capital letters) is a relatively obscure project, but since it bears the same name as Sam Altman's Worldcoin, investors have been flocking to it, thinking it to be the same token. (Note that the token ticker for this other WorldCoin is WDC, while the OpenAI-backed Worldcoin's ticker is WLD).

Besides being aware of the two different tokens, there are many other elements to inspect when considering if Worldcoin is a good investment. It’s crucial to understand both its unique potential and the controversies surrounding its functionality. 

Combating Sybil attacks and misinformation generated by AI requires the verification of each user’s uniqueness and humanness. This verification is achieved via the Orb, which scans an individual’s iris. The iris image is then converted into a unique code, known as a World ID, which creates a digital passport that can be used in lieu of personal data. 

However, the image of a user's iris is stored by Worldcoin 

. Some consider biometrics to be invasive, viewing them as a form of personal data. Worldcoin claims that the images aren’t stored, only the hash code. (Note that verification is also essential for the founders’ future goal of distributing universal basic income to individuals worldwide.)

Regardless of how and what data is stored, some people are concerned about the possibility of it being used for nefarious purposes. 

, hackers have successfully gained control over Worldcoin Orb operators’ dashboards. This lends credibility to concerns over safeguarding biometrics data.

In addition to this justified apprehension regarding data collection, it remains to be seen whether the token will really have any intrinsic value. The premise behind Worldcoin is rooted in global wealth redistribution via universal basic income, as anyone can earn the token merely by scanning their irises. But if the token itself is worthless, then owning the tokens is tantamount to owning Monopoly money — so to speak — with no use case in the real world.

While Worldcoin has ambitious goals (as well as many challenges to overcome to achieve those goals), it has great potential to improve personal security and transactions, mitigate the spread of misinformation/disinformation and ensure fair money distribution. Unfortunately, there are numerous myths surrounding Worldcoin that its creators aim to debunk. 

One of these is that Worldcoin stores iris images in a database. However, Worldcoin insists that the iris image is destroyed once Worldcoin assigns a unique World ID to a user. The biometric identification process itself allows Worldcoin to confirm that the individual is a real, living human. The use of the assigned identification number for that image supports verification without the future use of personal data or biometrics.

Another myth is that Worldcoin only serves individuals in developing countries. In fact, Worldcoin does operate in underserved and remote locations to help those with limited access to verify their identities, but it’s also increasingly being adopted in the developed world. 

Worldcoin (WLD): Bringing Digital Assets to the Masses

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards