Bybit Initiates Financial Transparency for Spot Listings, Marking a First in the Cryptocurrency Exchange Sector

Cryptocurrency exchange Bybit introduced a financial and operational data disclosure mechanism for projects listed on its spot trading platform on Monday.

Bybit is among the first major exchanges to enforce mandatory transparency in token listings.

The new mechanism mandates projects to disclose financial performance, treasury management, tokenomics, and essential operational metrics.

Bybit’s Financial Disclosure Trial Begins with SoSoValue: The Figures Are Impressive

The inaugural project to engage in Bybit’s financial disclosure trial is SoSoValue (SOSO).

According to SoSoValue’s financial report, the protocol’s revenue surged from $37,440 prior to its listing on Bybit to $273,307 post-listing—a 629.18% increase.

Simultaneously, marketing and community expenses fell by 73.02% to $60,220, indicating enhanced cost efficiency.

Other key performance indicators also displayed positive trends.

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 provide financial reports. SoSoValue was the first to disclose data. https://t.co/X0r3xyqXMt

— Wu Blockchain (@WuBlockchain) February 17, 2025

The number of daily active users on the project’s website increased by 35.27%, reaching 1.28 million.

Additionally, the project’s total value locked (TVL) experienced a significant rise from $16.22 million to $180.8 million, reflecting a 1076.32% increase.

The token supply and emission models remained stable, with a structured burn rate and allocation model established.

Bybit’s implementation of financial disclosure requirements enhances transparency within the crypto trading environment, providing traders and investors with real-time insights into the financial health and sustainability of listed projects.

Bybit Introduces Retail Price Improvement (RPI) Orders: A Potential Game Changer for Traders?

In addition to the disclosure mechanism, Bybit is broadening its trading ecosystem.

On February 17, Bybit also announced the launch of the Retail Price Improvement (RPI) Order, a type of order designed to boost liquidity and enhance pricing for retail traders.

The RPI Order, scheduled to launch on February 20, 2025, will cater exclusively to non-algorithmic users. It will function as a post-only order to add liquidity and will execute with lower priority than standard orders at the same price level.

Initially, access will be limited to select market makers across various spot trading pairs. Orders will be visible on the trading interface but will be excluded from API order books.

To facilitate these changes, Bybit is updating its OpenAPI system by introducing a new “timeInForce” enum value for RPI support in order-related functions, such as order placement and trade history retrieval.

New response fields, including “isRPITrade” and “RPI,” will reflect RPI-related transactions. RPI Orders will be omitted from API-based order book data.

The exchange plans a two-month testing phase starting February 20, 2025, after which official Retail Liquidity Provider (RLP) criteria will be announced.

Only users with a Maker Volume Share exceeding 10% in any spot trading category will be eligible for early participation, ensuring a controlled rollout prior to wider adoption.

Meanwhile, Bybit has reached a regulatory milestone by being removed from France’s Autorité des Marchés Financiers (AMF) blacklist.

This action follows two years of compliance efforts as the exchange seeks a Markets in Crypto-Assets (MiCA) license to operate legally within the European Union.

Looking ahead, Bybit may have established a solid foundation for a more transparent and accountable approach for crypto projects, which previously were not held responsible for their shortcomings, even when intentional.

As Bybit demonstrates success with this new feature on its exchange, it is reasonable to expect other exchanges to follow suit.

Community sentiment is likely to grow in demand for this level of transparency moving forward.

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