What exactly is this?
Bybit EU, the Vienna-based European arm of the Bybit exchange, has launched registration for a competition called European Series of Trading (EUSOT) 2026. The total prize pool is stated at up to 550,000 USDC (USDC is a stablecoin pegged to the US dollar). According to available sources, the amount is split into three separate parts, each with a different mechanism for earning rewards.
The first part is described as a Task Challenge, where traders complete various tasks and collect points. The competition takes place on the spot market, and trades on spot margin (buying assets using borrowed funds) also count.
Who organizes the competition and where is it based?
The organizer is Bybit EU, based in Vienna, which is the European part of the Bybit group. This is a relevant detail for European users, because it determines which jurisdiction and regulatory framework the entity falls under. The specific licensing status, and which countries' users the competition is open to, are not detailed in the sources.
An important note on sources
Here we need to be transparent. One of the texts this report relies on (Kryptonovinky.cz) explicitly states that it was created in collaboration with Bybit EU and that it does not constitute investment advice. In other words: part of the publicly available information about this event comes from communication close to the organizer itself, not from independent verification. This does not mean it is untrue, but it does mean it cannot be regarded as an independent source.
charliedesk is not writing this report in partnership with anyone, and we were not paid for its publication.
How are similar competitions usually evaluated?
Trading competitions on exchanges typically combine trading volume, performance (for example percentage gains), or task completion. The division into three parts in EUSOT 2026 matches this pattern, but detailed rules for each part (exact scoring, minimum volumes, length of the competition period, method of payout) are missing from the sources.
What is worth watching with this type of event before anyone takes part:
- How the score is calculated and whether it favors high trading volume (which can encourage riskier behavior).
- Whether spot margin counts toward the competition, which it does in EUSOT, bringing higher risk than regular spot.
- When and how rewards are paid out and whether there are conditions such as a minimum turnover.
- Who the competition is available to based on country and regulatory status.
Why do we mention Circle and Jupiter Lend here?
Among the underlying sources were also two texts that do not relate directly to the Bybit EU competition, but to the broader context of USDC. The Defiant describes how Circle (the issuer of USDC) earns from the reserves backing the stablecoin, and distinguishes between reserve income and net profit. CryptoSlate, meanwhile, describes a case where liquidity for USDC withdrawals on the Jupiter Lend platform dropped close to zero and subsequently recovered to roughly 29 million USDC (based on an API reading from October 31).
These two stories are not directly connected to the competition, but they are a reminder of one thing: USDC, in which the prize pool is denominated, is an instrument with its own infrastructure, issuer, and liquidity risks. A reward in USDC is pegged to the dollar, but it is not the same as cash in a bank account.
What is still unclear
As of the writing of this text, the exact competition dates, the full rules of the individual three parts, the payout conditions, and the list of countries for which the event is open are not known from available verified sources. Until Bybit EU publishes them in official and independently verifiable materials, we consider them unverified.