DUBAI, UAE, Feb. 18, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is raising the bar for project disclosures for listed tokens on crypto trading platforms. In a landmark move that signals a new era of accountability and investors' access to information, Bybit is piloting a transparency initiative requiring listed projects to provide comprehensive financial and operational data, a first among centralized exchanges (CEX).
The initiative introduces a dedicated section, the Bybit Listing Billboard, where listed projects will regularly publish detailed performance metrics and financial reports, enabling users to conduct thorough due diligence with previously unavailable depth of information.
SoSovalue is the first project to embrace this new framework on Bybit, meeting the enhanced disclosure requirements. Key performance indicators include specifics of token supply, revenue and expenses, activity levels in the holder and developer communities, and the following metrics a month after listing:
- Total Value Locked (TVL): $190.80M
- Website Monthly Active Users: 9.79M
- Monthly Active Wallets: 309,570
- On-Chain Transaction Volume: $261.3M
The new requirement offers a fast track to transparency for users, giving them easy access to project financials and enabling them to track the growth and financial health of the projects beyond initial tokenomics. Data points include five key dimensions: core financials, token metrics, on-chain activity and network health, governance and community, and risk disclosures and future roadmap.
"Bybit is committed to delivering the level of transparency our users expect of us. The initiative will benefit traders in their research stage and allow them to follow project performance over time, and we are excited to have SoSoValue as the first partner on board," said Emily Bao, Head of Spot and Web3 at Bybit.
"SoSoValue and Bybit share the ethos of openness and authenticity, a trademark of the crypto and DeFi community. We are proud to be the first 100% open project on Bybit and to set the bar together in trust building," said Jivvva Kwan, Cofounder of SoSoValue.
The program comes at a critical time when investors and regulators are increasingly calling for greater accountability in digital asset markets. By implementing disclosure requirements, Bybit and the issuers are working together towards creating a new benchmark for operational excellence in the industry. The broader shift toward enhanced transparency across the cryptocurrency ecosystem could potentially influence industry-wide disclosure practices. The initiative is expected to strengthen market integrity and investor protection, while fostering a more mature and trustworthy trading environment.
Users may find out more about the latest SOSO disclosures on Bybit.
Bybit / TheCryptoArk
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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