Crypto Exchange Bitget Adds Bitget Wallet To PoolX, Enabling Participants To Stake USDT And Mine BWB Tokens
In Brief
Crypto exchange Bitget has launched Bitget Wallet on PoolX, enabling participants to stake USDT tokens for mining BWB until June 21.
Cryptocurrency exchange Bitget announced the launch of Bitget Wallet (BWB) on its new stake-to-mine platform PoolX, allowing participants to stake USDT tokens for mining BWB, with a total reward pool consisting of 2 million BWB tokens.
The token mining period is scheduled to begin at 8:00 UTC on June 6th and will continue until 8:00 UTC on June 21st. Participants can stake a maximum of 300,000 USDT. Token rewards will be distributed hourly, determined by users’ staking volume.
PoolX enables users to stake particular coins in order to gain popular tokens. Each project on PoolX includes one or more mining pools, from which token rewards are allocated every hour depending on the staking volume of participants.
Bitget Wallet serves as a Web3 wallet used by 20 million individuals globally. In April, the volume of swap transaction orders and transaction amounts processed through Bitget Wallet surpassed those of MetaMask, setting a new record.
BWB acts as the ecosystem token for Bitget Wallet and operates as the system token for Bitget Onchain Layer. Within the ecosystem, BWB plays multiple roles, including community governance, staking, launchpad participation, and airdrop activities. Moreover, it serves as the eligibility criteria for taking part in activities on Bitget. The total supply of BWB is capped at 1 billion, with 5 million BWB allocated to the launchpad pool for BGB holders and an additional 5 million for USDT holders.
Bitget’s PoolX Attracts Over 133,800 Users In First Month After Launch
Bitget represents one of the major derivatives exchanges, characterized by substantial trading volume. It grants individuals the flexibility to purchase cryptocurrencies using fiat currency or engage in spot market trading. Boasting a global user base exceeding 19 million, Bitget provides a variety of features, encompassing wallet management, smart quotes, swap transactions, launchpad, inscription center, decentralized application (dApp) center, and additional functionalities.
The exchange introduced PoolX in April planning to improve its ecosystem. In its first month, the platform successfully launched nine projects, drawing participation from a total of 133,800 users. These users collectively staked 300 million USDT and 180 million BGB, with annual percentage rate (APR) income varying from 10% to 45%.
Recently, Bitget has hosted BWB on its Launchpad, providing users with the opportunity to stake either BGB or USDT to receive a share of BWB tokens.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, 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 cryptocurrency, zero-knowledge proofs, 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.
