Bybit has launched a new promotional event called the 'bbSOL HODLverse', running from March 11 to March 20, 2025. This initiative allows participants to earn LAYER tokens by holding bbSOL, a token generated by staking SOL. The event features a prize pool of 2 million LAYER tokens, valued at approximately $200,000. The promotion is designed to enhance user engagement and incentivize trading on the platform. Additionally, Bybit is also hosting a $4.4 million liquidity pool support competition, which has started its second round. The competition aims to identify top holders and ensure a fair environment by tightening eligibility filters. The leaderboard for this competition is updated every five minutes, and winners will undergo a manual review before being announced. Bybit's recent activities follow a recovery from a significant security breach, which had previously impacted user trust and engagement.