Bitget Introduces Bitget Wallet On Its Launchpad, Enabling Users To Commit BGB Or USDT And Secure Portion of 10,000,000 BWB Tokens
In Brief
Bitget has announced Bitget Wallet as the next project on its Launchpad, initiating the holding calculation period at 3:00 UTC on June 1st.
Cryptocurrency exchange Bitget revealed Bitget Wallet (BWB) as the next project on its Launchpad. The subscription process will operate on an investment model, allowing users to commit either BGB or USDT to take part. The maximum commitment amount permitted will be determined by the average holdings of BGB or USDT during a specified holding statistics period.
The holding calculation period is scheduled from 3:00 UTC on June 1st to 3:00 UTC on June 4th. Following this, the commitment period will commence at 6:00 UTC on June 4th and conclude at 6:00 UTC on June 6th. Results of the process will be announced at 8:00 UTC on June 6th, followed by distribution between 8:00 and 12:00 UTC.
The maximum exchange limit for individuals is set at 50,000 BWB in the BGB pool and 25,000 BWB in the USDT pool. The anticipated exchange rate is 1 BWB = 0.15 USD.
To take part, individuals are advised to log in to their Bitget account and maintain BGB or USDT in their asset account to facilitate the calculation of average BGB or USDT holdings. This calculation will be based on snapshots taken from June 1st to June 3rd. Users should then commit their BGB or USDT, with the committed amount being determined by the average holdings during the calculation period. The assets will be locked up while awaiting allocation. Once the commitment period concludes, the system will compute the token allocation for each user, and the tokens will be sent to their spot account.
Bitget Wallet: What Is It?
Bitget Wallet represents a Web3 wallet utilized by 20 million users globally. In April 2024, the volume of swap transaction orders and transaction amounts processed through Bitget Wallet exceeded those of MetaMask, establishing a new record.
BWB serves as the designated ecosystem token for Bitget Wallet and functions as the system token for Bitget Onchain Layer. Within the ecosystem, BWB fulfills various roles, including community governance, staking, launchpad, and numerous airdrop activities. Additionally, it serves as the qualification criteria for engaging in Bitget platform activities. The total supply of BWB tokens is set at 1 billion, with 5 million BWB allocated to the launchpad pool for BGB holders and another 5 million for USDT holders.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
