The crypto exchange is setting new transparency standards, requiring projects to reveal financial data before listing on its spot platform.
Bybit Implements Financial Transparency for Spot Listings
Bybit is changing how crypto exchanges operate by requiring projects to disclose financial and operational data before spot listing. This move makes Bybit the first major exchange to enforce such transparency.
Bybit announced the trial of a project financial and operational data disclosure mechanism, becoming the first crypto exchange to require spot coin listing projects to disclose financial reports. SoSoValue was the first to disclose data. announcements.bybit.com/article/listin…
The initiative demands that projects reveal details about revenue, treasury management, tokenomics, and key metrics. The first participant, SoSoValue, reported a significant revenue boost after listing.
SoSoValue’s Financial Data Shows Positive Growth
SoSoValue was the first project to undergo Bybit’s financial disclosure trial. Its revenue jumped from $37,440 to $273,307 after listing, marking a 629% increase.
“SoSoValue’s financial report shows a structured burn rate and allocation model,” Bybit stated. Marketing costs dropped by 73%, while daily active users rose by 35%.
Total Value Locked Surges Over 1000%
The project also saw a sharp increase in total value locked (TVL), climbing from $16.22 million to $180.8 million. This reflects heightened investor confidence under Bybit’s transparency model.
Bybit’s approach gives traders real-time insights into a project’s financial health, reducing risks in the volatile crypto market.
Bybit Expands Trading Features with RPI Orders
Alongside financial disclosures, Bybit launched the Retail Price Improvement (RPI) Order on February 17. This feature aims to enhance liquidity and improve pricing for retail traders.
RPI Orders operate as post-only orders and match non-algorithmic users. Initially, only select market makers will access this tool before a broader rollout.
Technical Updates for RPI Orders
Bybit is updating its OpenAPI system to support RPI-related transactions. New response fields, such as “isRPITrade” and “RPI,” will track these trades. RPI Orders will not appear in API order book data.
A two-month testing phase will run from February 20, after which Bybit will announce criteria for official Retail Liquidity Providers (RLP).
Bybit Achieves Compliance Milestone in France
Bybit recently secured a regulatory win by being removed from France’s Autorité des Marchés Financiers (AMF) blacklist. The exchange has worked toward compliance for two years and seeks a Markets in Crypto-Assets (MiCA) license.
With its latest financial disclosure model and regulatory progress, Bybit is setting a new standard for crypto exchanges. Its success could push other platforms to adopt similar transparency measures.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
