KEY TAKEAWAYS
- Bybit Alpha introduces ‘The Black Whale’ token for on-chain trading, enhancing its platform’s DeFi capabilities.
- Users can trade the new asset using USDT, USDC, SOL, or BBSOL directly from their Bybit Unified Trading Account.
- The upgrade simplifies on-chain finance by eliminating the need for external wallets or gas tokens.
- On-chain assets acquired cannot be withdrawn externally but can be sold back into supported currencies.
Bybit Alpha has announced an upgrade to its platform, introducing a new asset for on-chain trading. This enhancement allows users to engage in decentralized finance (DeFi) activities directly through their Bybit Unified Trading Account (UTA), eliminating the need for external wallets or gas tokens.
The latest addition to Bybit Alpha’s trading options is ‘The Black Whale’ token, identified by the ticker BlackWhale. Users can now trade this asset on-chain using USDT, USDC, SOL, or BBSOL directly from their UTA. The integration aims to simplify the trading process by providing a secure and straightforward method for users to participate in on-chain finance without switching platforms.
After purchasing tokens, users can view their on-chain assets under the ‘Trade/Alpha’ section on the app or the ‘Holding’ section on the website. The platform allows for the sale of tokens at any time, with proceeds automatically credited to the user’s UTA in the form of USDT, USDC, SOL, or BBSOL. However, it is important to note that on-chain assets acquired via Bybit Alpha cannot be withdrawn externally but can be sold back into supported currencies.
Bybit Alpha’s latest upgrade is part of its ongoing efforts to enhance user experience and expand its offerings in the on-chain finance sector. More details about the new asset launch can be found here.
As always, Bybit emphasizes the importance of understanding the risks associated with cryptocurrency trading. The platform advises users to consider their investment objectives and seek independent financial advice if necessary, as trading involves significant risk and potential loss of capital.
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