Bybit, a major cryptocurrency exchange, has introduced the RLUSD Hold & Earn campaign, a limited-time initiative designed to incentivize holding and trading the Ripple USD (RLUSD) stablecoin. The promotion runs through August 19, 2026, and targets both retail and institutional users.
Campaign Mechanics and Rewards
Eligible users can earn daily rewards on RLUSD balances held in their Bybit accounts without the need for staking or lock-up periods. A minimum balance of just 1 RLUSD qualifies for participation. Bybit snapshots account balances 24 times per day, and rewards are calculated based on eligible daily holdings up to 5 million RLUSD per user. A loyalty multiplier further boosts rewards for users who maintain their RLUSD holdings over time.
Bybit emphasizes that these rewards are promotional incentives and should not be interpreted as interest, yield, or investment returns on the stablecoin.
Trading Fee Reductions and Competition
During the promotional period, Bybit has slashed trading fees for the RLUSD/USDT spot pair. Maker fees have been reduced from 0.10% to 0%, while taker fees have been lowered from 0.10% to 0.04%. Additionally, a separate RLUSD Trading Competition offers a prize pool of 50,000 RLUSD for eligible users based on their spot trading activity. Institutional clients can participate in the Hold & Earn campaign but are excluded from the trading competition.
Market Context and Adoption
According to Bybit, RLUSD's market capitalization has grown to over $1.5 billion in 2026, reflecting broader adoption by exchanges, banks, and other financial institutions. This campaign aligns with the exchange's strategy to deepen liquidity and user engagement around stablecoins.
For context, other platforms have also launched incentive programs to attract users. For instance, BingX launched a $1M USDT campaign to capitalize on earnings season, while AlphaX introduced zero-fee trading across traditional finance and crypto markets. Bybit's approach focuses specifically on stablecoin holding and trading without lock-ups, a differentiator in the competitive exchange landscape.
Implications for Investors
For investors, the campaign offers a way to earn rewards on stablecoin holdings without the typical constraints of staking or lock-up periods. The reduced trading fees also lower transaction costs for active traders. However, it is important to note that the rewards are promotional and not guaranteed returns. As with any exchange promotion, participants should review the terms and conditions carefully.
This article is for informational purposes only and does not constitute financial advice.
