Bybit kicked off its Squad Gold Rush referral campaign on July 22, offering users a chance to compete in teams for a share of up to 100,000 USDT. The exchange, the second-largest by trading volume with over 80 million users, is running the promotion through August 18 at 11:59 p.m. UTC.
How the squad competition works
Participants form referral teams. Each eligible first-time deposit (EFTD) by a qualified referral earns the team one point. To count, a referral must register via the link, complete KYC, deposit at least $100, and execute at least $10 in trading volume within seven days. The top 100 squads split the prize pool, with individual payouts calculated as a share of the team's allocation based on points contributed.
Tie-breaker goes to the squad that earned its points first. The final prize pool tier depends on total verified referral points across the community, capping at 100,000 USDT. Rewards are distributed in USDT within 10 business days after the campaign ends, following a risk review.
Lucky draws and extra rewards
Beyond the squad leaderboard, participants earn lucky-draw chances for rewards including XAUT with a displayed value of up to $10,000. The system awards one chance per two valid referrals, an extra chance at five, and another at ten, maxing out at 17 chances per person. Qualifying referred users also get one lucky-draw chance. Lucky-draw rewards are distributed as USDT airdrops, with amounts fluctuating based on market value.
Eligibility and restrictions
Eligible deposits include fiat, crypto transfers, one-click buy, and P2P purchases. Bonuses, coupons, and internal transfers don't count. Bybit warns that self-referrals, duplicate KYC, subaccount loops, and device or IP patterns indicative of reward farming may lead to disqualification. The campaign is not available to users in the European Economic Area or other restricted jurisdictions.
Participants must complete at least two successful referrals during the campaign to qualify for any rewards. The exchange will distribute squad leaderboard prizes and lucky-draw winnings after a post-campaign risk review, which could delay payouts if irregularities are flagged.
