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Bybit, the world's second-largest cryptocurrency exchange by trading volume, has launched the "BYUSDT: Turn Your Easy Earn Assets Into Trading Power" campaign, introducing a tokenised asset that allows retail users to earn yield on USDT whilst using the same funds as trading margin.
Eligible users may earn up to an 11.30 per cent bonus annual percentage rate on qualifying BYUSDT holdings, subject to applicable caps and terms.
Under the campaign, users deposit USDT into Flexible Easy Earn, where the balance begins generating yield. The Flexible Easy Earn balance can be swapped to BYUSDT within the Unified Trading Account and used as margin for trading, with swaps processed at a fixed 1:1 conversion rate.
BYUSDT represents users' USDT Flexible Easy Earn balances in tokenised form and can be held and used exclusively as margin within Bybit's Unified Trading Account. After conversion, the underlying USDT continues to generate Flexible Easy Earn yield whilst BYUSDT is deployed for trading.
BYUSDT is fully backed at all times by users' Flexible Easy Earn USDT and is managed entirely within the Bybit platform. It does not support transfers, deposits, withdrawals, conversions, INS loans, or direct spot trading pairs.
Yield on BYUSDT follows the same mechanism as USDT Flexible Easy Earn, excluding any platform reward APR. Yield accrues hourly based on effective holdings and is distributed daily at approximately 12:30 a.m. UTC in BYUSDT, increasing users' balances over time.
BYUSDT is available only to users eligible for Bybit Savings services who hold a Unified Trading Account and have completed Identity Verification Level 1. Islamic accounts are not eligible, and availability may be restricted in certain jurisdictions, including but not limited to mainland China, France, Hong Kong, India, Kazakhstan, and Uzbekistan.
Bybit reserves the right to disqualify accounts engaged in dishonest or abusive activities, to modify campaign terms without prior notice, and to retain final interpretation rights.
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