In this tutorial, we’ll explore how you can complete a series of tasks in Pell for Bybit Web3 Airdrop Arcade.

Task: Stake in USDX Stake or Stake Through Restake

 for gas fees. For other networks, use the appropriate gas token and compatible assets.

button on the top right corner of the page to connect your 

Congratulations! You’ve successfully staked your tokens and earned 1.25x Pell Points and 1.5x USDX Points.

Complete all the tasks to grab a share of the 210,000 PELL prize pool!

Option 2: Stake via Restake (BNB Smart Chain)

button on the top-right corner of the page to connect your 

as an example. Click on the pool’s corresponding 

: Enter the amount you want to restake (minimum 

Congratulations! You’ve successfully restaked your tokens and earned 1.5x Pell Points. Complete all the tasks to grab a share of the 210,000 PELL prize pool!

You can view your staked amount and earned points in the 

If you require any assistance, you can join the Pell community for support.

Beginner

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How to Complete Pell Tasks for Bybit Web3 Airdrop Arcade

XION has launched its $12.6M Anti-Grant Grant Program in collaboration with Thrive Protocol to support high-caliber app developers.

The S&P 500 closed flat Friday as investors await the Fed's policy decision and PMI data, with tech stocks leading recent gains amid broader market stagnation. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.87%, with Bitcoin and Ether rising by 0.19% and 0.20%, respectively in the past 24 hours.

Today's top performer is CoW, which surged 52.8% following the launch of CoW Swap and CoW Protocol on Base, offering gasless trades and MEV protection.

CoW DAO (COW), founded in 2022, is a decentralized platform that enhances trading efficiency and security. Its main products are CoW Protocol, which finds the best trade deals using decentralized solvers; an MEV blocker to prevent exploits; and CoW AMM, a DEX that protects liquidity providers from arbitrage losses. The platform aims to safeguard DeFi traders from common security risks. CoW DAO has 

 CoW Swap, CoW Protocol, and soon CoW AMM on the Base blockchain, offering gasless trades, MEV protection, and competitive pricing. CoW Swap aggregates liquidity from multiple sources for optimal execution and provides advanced order types. This deployment enhances security and efficiency for Base users, with future plans to introduce more products, including CoW AMM for LP protection and diversified pools.

Check Out the Latest Prices, Charts, and Data of 

 in collaboration with Thrive Protocol to support high-caliber app developers. Unlike traditional Web3 grant programs, this initiative features a strict selection process, decentralized validation, and a unique "Wall of Shame" to prevent mercenary developers. The program offers repayable grants up to $25,000 for each project, with funds released upon meeting key milestones. It aims to back serious entrepreneurs creating impactful apps on XION’s walletless blockchain, which offers scalability and a seamless user experience. Accepted applicants receive ongoing support, including incubation, technical resources, and access to a large user base and strategic partners.

From December 9–13, 2024, BTC Spot ETF flows totaled $2,167.1M, with GBTC recording outflows of -$221.3M and Non-GBTC inflows of $2,388.4M. The largest daily GBTC outflow was -$105.8M on December 13, while the highest Non-GBTC inflow was $645.9M on December 12. Cumulatively, GBTC has experienced -$21,045M in outflows, whereas Non-GBTC has seen $56,621M in inflows, resulting in a net total of $35,576M.

Superform Labs, a non-custodial yield marketplace that raised $9.5M, offers an 

 through its CRED points program. Users can earn both Superform and Base airdrops by depositing tokens into Base chain vaults, with no lockup required and higher rewards for longer holdings.

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XION Launches $12.6M Anti-Grant Program to Support High-Caliber Web3 App Developers

Cheems (CHEEMS) on BNB Smart Chain blends humor with real-world utility. Explore its Cheemsverse ecosystem, welfare efforts and market performance.

Cheems (CHEEMS) is a meme coin launched on BNB Smart Chain (BSC), inspired by the iconic "Cheems" dog meme. Combining humor with a strong community, Cheems has grown into a notable player in the crypto world, attracting attention for its unique branding and utility within the Cheemsverse ecosystem.

This article explores the Cheems project, highlighting its features, market performance and contributions to charitable causes. Whether you’re a crypto enthusiast or curious about meme coins, discover why CHEEMS stands out.

Cheems (CHEEMS) is a meme coin built on the BNB Smart Chain (BSC), inspired by the popular "Cheems" dog meme that symbolizes humor and community in the crypto space. Designed to combine entertainment with functionality, CHEEMS aims to create an engaging ecosystem for its holders while promoting blockchain adoption through meme culture.

The project originated as a lighthearted way to connect with the growing meme coin community, but has since evolved with utility, such as the Cheemsverse and welfare initiatives. With its focus on fun and inclusivity, CHEEMS has gained significant traction among meme coin enthusiasts.

Cheems stands out as a community-driven project on BNB Smart Chain (BSC), blending humor and functionality. It thrives on the viral appeal of meme culture while incorporating blockchain features to engage its users. With over 

200 trillion tokens in circulating supply

, Cheems has become a significant player in the meme coin space.

Key aspects of the project include the following:

Cheems leverages its humorous roots to connect with crypto users while offering real-world applications, making it more than just a meme coin.

Cheemsverse is an interactive extension of the Cheems ecosystem, combining gaming, NFTs and blockchain applications to enhance utility and engagement. Designed for entertainment and community building, it offers several key features:

Cheemsverse aims to provide real-world use cases for CHEEMS while cultivating a strong, active user base.

 is a key pillar of the Cheems ecosystem, dedicated to giving back to the community through significant charity initiatives. It focuses on supporting animal welfare and local causes, aligning with its mascot's playful, pet-inspired identity.

Cheems Welfare bridges blockchain technology with meaningful social contributions, fostering goodwill within and beyond its community.

The Cheems features a transparent and community-driven tokenomics model:

The burn mechanism enhances token scarcity, fostering long-term value for holders and contributing to a sustainable ecosystem.

Cheems (CHEEMS) has established a notable presence in the crypto market:

Cheems demonstrates consistent activity, backed by a strong community and growing adoption, ensuring its position as a competitive meme coin in the crypto space.

Cheems is a unique meme coin on BNB Smart Chain, offering both utility and entertainment. Through its Cheemsverse ecosystem, welfare initiatives and transparent tokenomics, CHEEMS has gained steady traction among crypto users. With a market cap of $166 million, it reflects strong community support and market relevance.

 as a Bybit Perpetual contract. Dive into the vibrant world of meme coins and explore trading opportunities today!

Intermediate

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Cheems: Lord of Memes on BSC

P2P on Bybit is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two users’ holdings at an optimal, agreed-upon price.

Peer-to-peer (or P2P) trading is a form of trade in which buyers and sellers directly exchange their coins and fiat assets.

 is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two users’ holdings at an optimal, agreed-upon price. Please note that Bybit does not provide the buy and sell offers on the P2P page.

, including EUR, USD and JPY, and also supports four cryptocurrencies (USDT, BTC, ETH and USDC).

The fee structure of P2P trading corresponds to two different types: taker and maker.

To learn more about fees on the P2P platform, please refer to 

Can’t wait to start your P2P trading journey? Here’s a step-by-step guide to help you start your first P2P transaction on Bybit.

 on the top left corner of the navigation bar to enter the P2P trading page. 

 page, you can filter advertisers by entering your desired criteria for 

 Choose your preferred advertisement, and click on

 Enter the amount of fiat you want to pay, or the amount of coins you want to receive. Click on 

You’ll be redirected to the order page, where you’ll see a countdown timer to transfer the money to the seller's bank account. Make sure to verify that all of the order details are correct before proceeding. 

 once you’ve completed the payment. Acknowledge the rules and click on 

 if you have provided the necessary information.

a. Once the coins you’ve purchased have been successfully released by the seller, you can check your assets in the 

. You can also check your order status from the 

b. If the seller fails to release the coins after 10 minutes, you can click on 

Our customer support team will reach out to you. During this period, please do not cancel the order unless you’ve received a refund from your seller.

 Choose your preferred advertisement, and click on 

a. Enter the amount of USDT you want to sell, or the amount of fiat currency you want to receive. Click on 

 During the pending process, the buyer will have 15 minutes to complete the payment. 

a. Once you’ve successfully received your payment from the buyer, click on 

 to release your coins. You will be asked to enter your GA verification code as a verification step.

*Please ensure you've received the funds from the buyer before ticking the confirmation box and releasing your coins.

1) If the buyer did not complete the payment within the timeframe, the order will automatically be canceled. The coins reserved on the P2P platform will also automatically be returned to your Funding Account.

2) If you’re notified that the payment is completed, but have yet to receive the payment after 10 minutes, you can click on 

. Our customer support team will reach out to you.

For more details on how to buy or sell, please refer to the following two articles:

Now, you will need to complete at least KYC Lv1 before you can start P2P trading.

 in the upper right-hand corner of the page.

To learn more about the KYC verification process, please refer to the 

Once a buy order is submitted, the amount of coin specified will be reserved on the P2P platform. This means that if the seller doesn’t release the coin within 10 minutes after receiving the payment, our customer support has the right to release the coin from the reserved funds to the buyer after verification.

If you’re a seller, please make sure you’ve received the funds from the buyer before releasing your coin.

P2P on Bybit offers zero transaction fees for both buyer and seller. We support more than 

, including debit cards, credit cards, in-person cash payments, and more.

However, traders may need to pay transaction fees to the payment provider based on the payment method selected. 

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P2P on Bybit Trading: Everything You Need to Know

Bybit Learn

Options

With our collar option strategy guide, find out how you can effortlessly hedge your bullish long positions by selling a call and buying a protective put.

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A collar option strategy is used to limit the returns of an underlying long position to a specific range. Typically investors use the option collar to hedge an underlying long position against downside volatility, and at the same time guarantee an exit if the market goes higher.

This is achieved by buying a protective put option and simultaneously selling a 

One way to think of the collar options strategy is it works the same way as placing both a stop-loss and a take-profit order against the underlying asset. By using the strategy, investors limit both the potential upside and potential downside associated with holding the underlying asset.

The first step in the collar option strategy is selecting which strike prices align with your market view.

Let's assume an investor holds 1.0 BTC, which is currently trading at $20,000 and wants to hedge against a drop below $18,000 in the next two months. They may do something like this:

Buy 1.0 BTC $18,000 put option with 60 days-to-expiration (DTE) — the buyer pays a premium of $1,000.

To offset the cost of the put, the investor then sells a covered call option. The call option is usually, although not always, for the same amount of underlying, and with the same expiration date.

The investor sells 1.0 BTC $22,000 call option with 60 DTE — receiving a premium of $1,000.

Here, the cost of the trade is zero ($1,000 premium paid -$1000 premium received). Depending on market conditions and the selected strikes, a collar option may be traded at zero cost (zero cost collar), a net credit (premium received > premium paid), or a net debit (premium received < premium paid).

The cost of the strategy varies depending on the distance of the strike prices to the underlying asset. Typically, a collar position involves strikes of equal distance to the underlying asset. Here, the premiums should hold equal, or close to equal value (delta-neutral).

Delta is the calculation used to determine how much an option premium changes in value for each $1.00 move in the underlying asset. Call options have a positive delta, ranging from 0 to 1, and puts have a negative delta ranging from -1 to 0.

At-the-money options typically have deltas of 0.5/-05, reflecting the equal odds of expiring either in or out-of-the-money.

Call delta increases as the market moves higher, and put delta increases as the price moves lower.

Understanding delta helps to explain the mechanics of the options collar.

If the underlying asset falls, the value of the long put increases at an ever-faster rate, helping to offset the loss in the underlying. If at expiration, the underlying asset is below the strike price, the put delta is -1.0, meaning the value of the put increases at the same rate the underlying falls. Here, the put perfectly hedges the difference between the strike price and the option settlement price.

By contrast, if the underlying moves higher towards the call option's strike price, the premium of the short call increases. Similarly, if at expiry, the underlying asset is above the strike price, the option delta is 1.0. Here, the losses incurred from the short put will offset the underlying’s gains 1:1 above the strike price.

The key difference is that for the short out-of-the-money call to expire in-the-money the underlying will be higher than when the trade was initiated.

The collar option strategy combines the protective put and the covered call strategy. As such, it can be used as an alternative to both.

Combining the two strategies has benefits and limitations. To understand the potential payout and risk of a particular options strategy, option traders use 

The below payoff diagram represents a long position in an underlying asset, like a stock or BTC. The black line is the price moving higher (left to right), and the blue line shows the profit and loss as the market moves away from the purchase price (A).

The main advantage of using the options collar as opposed to a covered call strategy, is the collar's protective put hedges against a drop in the underlying.

The below payoff diagram shows that when used in isolation, the covered call has limited potential profit, and a significant downside (premium received - the difference between the underlying asset price and $0).

 if the underlying price is above the strike price (calls), or below the strike price (puts). Here, there is an immediate benefit in exercising the options.

Any strike price in an unprofitable position relative to the underlying is referred to as Out-of-The-Money (OTM). For puts, this is a strike price below the current market price. For calls, it's any strike price above the current market price. Lastly, a strike price equal to the underlying asset price is called At-The-Money (ATM).

The long put, when used alone, protects against potential downside without limiting the potential profit— the maximum loss is limited to the purchase price of the option.

The collar is a simple option strategy with limited risk, and thus suitable for investors of all knowledge levels. However, to get the best from this play, it's advisable to select the strike prices that match your investment objectives.

As the name suggests, the reverse collar option involves doing the opposite of the traditional collar strategy.

The reverse collar is used to limit an underlying short position to a specific trading range. Instead of writing covered calls and buying puts, an investor with a short position sells covered puts and buys protective calls.

Here, the long call hedges the short position, and the short put limits the maximum profit potential.

The reverse collar is widely used in commodity markets, where its referred to as a "producer hedge". Commodity producers use the strategy to lock in both the best-case and worst-case price levels to exit their underlying short position (future production).

Because the covered call works against the underlying asset in a rising market, the collar option is best deployed when an investor is worried about near-term weakness.

The advantage of using a collar option as opposed to placing a stop and limit order against the underlying is its versatility.

With the collar strategy, the underlying asset could trade below the long put strike price whilst the contract is active but turns higher before the expiration date. Here, the protective put works perfectly, allowing the investor to weather near-term volatility but crucially keep their long-term long underlying position. 

Assuming the cost of entering the trade is zero (premium paid = premium received), the breakeven point at expiration is the same price as when the trade was entered.

Because the corresponding premiums offset each other, the underlying price determines the breakeven point. If the cost of the strategy is a net debit, the underlying asset must rise equal to that amount to offset the cost. Whereas for a net credit, the breakeven point is the price at which the underlying falls equal to the received credit.

The sweet spot for the collar option is when the underlying asset settles equal to the short call strike. Here, the short call is at-the-money and expires worthless and the investor keeps the gains generated from the underlying asset's price appreciation.

Because options are flexible, investors can adjust their position to reflect a changing view of the market. However, doing so can impact the max profit and loss potential.

Because the option collar offers downside protection, investors are unlikely to make adjustments in bearish markets. Instead, let's examine ways to adjust for bullish price action:

The maximum take profit potential is the same as the sweet spot. If the underlying asset is equal to the short call strike price at expiry, the call option expires worthless, and the investor profits from the underlying's appreciation.

The maximum incurred loss potential when using the collar strategy is if the underlying asset is below the long put strike price at the expiration date. Here, the maximum loss is the difference between the price of the underlying asset at the time of trade and the strike price of the put option (+/- the net cost of the trade).

The below example shows how an investor holding an underlying long stock position in Amazon (NYSE: AMZN) totaling 100 shares could use a collar option to protect against potential price volatility in the underlying security surrounding an approaching earnings call:

The investor purchases 1 contract (100 shares) of the Amazon $125.00 put option — paying a premium of $12.00 per share ($1,200)

The investor then sells 1 contract (100 shares) of the Amazon $145.00 call option with the same expiration month — receiving a premium of $11.50 ($1,150)

The cost of the trade is a net debit of $50.00 (premium received - premium paid x option multiplier of 100 shares).

Here, the investor's downside risk is protected if the underlying stock price falls below $125.00, with a guaranteed sale price of $145.00 if the short call option expires in-the-money.

With just a few simple steps, crypto traders can use Bybit's USDC-settled options to deploy the collar strategy to protect the underlying crypto holdings.

Log into your Bybit trading account and under 

Select the desired expiration date, or view all the available expiration dates at the same time.

Select the strike price you wish to trade. Call options are shown on the left-hand side of the option chain and puts on the right.

With the strike now selected, an order placement ticket appears. Here you will find the Greek calculations, the recent trades, and the market depth.

The margin requirement is calculated and displayed at the bottom of the order ticket once you have chosen your order size and direction (buy or sell).

Repeat the process for the remaining strike (either put or call) to complete the options collar strategy.

Accounts with minimum net equity of 1,000 USDC can take advantage of lower margin requirements and higher leverage by signing up for Portfolio Margin mode.

The portfolio margin mode uses a risk-based margin policy designed to reduce margin requirements for hedged portfolios. It does this by offsetting the exposure of long and short options positions against each other.

Because the underlying asset in the collar option hedges the option strikes, Portfolio Margin mode reduces the margin requirements for this strategy significantly.

Collar Option Strategy: Limiting Your Risk While Staying Bullish

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards