BWB and BGB Token Merge Upgrade
Announcements
Bitget Wallet has seen exceptional growth in 2024. User base has tripled as the team continues to ship product improvements to enhance user experience. As we arrive at the dawn of 2025, Bitget Wallet reaffirms its commitment to deliver even greater value to its community of users and token holders.
To accelerate Bitget Wallet's growth and empower token holders with a greater suite of utilities and benefits, we have decided to merge Bitget Wallet Token (BWB) with Bitget Token (BGB).
After the token merge, BGB will emerge as the sole unified ecosystem token for both Bitget and Bitget Wallet. Do note that BGB total token supply will remain unchanged.
Synergies to build the strongest CeFi+DeFi ecosystem
Bitget Wallet has become one of the largest Web3 wallets today. Over 60 million users worldwide use Bitget Wallet to connect to a wide variety of onchain opportunities across multiple blockchains and dapps.
Bitget Exchange has experienced tremendous growth during this time too, with its aggregate trading volume now ranked among the top three exchanges. With full stack trading services such as pre-market, spot, leverage, and contracts, Bitget has become the first stop for many top-tier projects and users.
Combining the strength of both platforms leads to great synergies to deliver value across both onchain and exchange worlds. As of today, the combined number of users on Bitget and Bitget Wallet exceeds 100 million. We believe the token merger marks a pivotal inflection point in our journey to build one of the most important and influential ecosystems in web3.
Expanded suite of utilities for a unified ecosystem token
The token merge will enable us to capture the full spectrum of value across offchain and onchain worlds, and to build BGB into a world-renowned crypto asset.
Today, BGB holders already enjoy various benefits on Bitget Exchange including Bitget Launchpad early access, Launchpool and PoolX airdrops, spot fee discounts and VIP exclusive perks. Bitget Wallet token holders will now be able to enjoy these same benefits post-merger.
More importantly, the token merge means that BGB will enable onchain utilities and integrations, opening up a whole new world of benefits to token holders. Firstly, onchain trading, staking and further DeFi integrations of BGB will be enabled, providing greater access and utility for BGB. Secondly, BGB will be integrated into Bitget Wallet's onchain applications which is continually increasing. Users will be able to use BGB as a multi-chain gas token, receive exclusive airdrops from wallet campaigns, and gain further rewards based on Bitget Wallet's VIP token holder program.
Furthermore, BGB will fully expand PayFi scenarios starting from 2025, which can be directly used for payment in various lifestyle spending scenarios (e.g. restaurants, shopping, tourism), thereby providing more users with a full stack of Web3, finance and spending services and token value.
As the overall ecosystem scales up and expands use-case scenarios across CeFi and DeFi, the value and utility of the unified token will increase as well.
Token merge details
The token exchange rate will be based on 7-day average closing price (based on prices on Bitget Exchange) of BWB/USDT and BGB/USDT in the period of 19 Dec - 25 Dec 2024 (UTC +8). The 7-day average prices are shown in the table below.
|
Daily closing price
|
12.19
|
12.20
|
12.21
|
12.22
|
12.23
|
12.24
|
12.25
|
7-day average price
|
|
BWB
|
0.3899
|
0.3356
|
0.3443
|
0.3479
|
0.3504
|
0.3842
|
0.6016
|
0.3934
|
|
BGB
|
4.5338
|
4.3128
|
4.1402
|
4.1483
|
4.3012
|
4.9170
|
5.805
|
4.5940
|
The exchange rate of BWB/BGB is set at 0.08563 (calculation：0.3934 / 4.5940 = 0.08563). Example: User A holds 100,000 BWB. According to the exchange rate, User A can exchange it for 8563 BGB.
For BWB onchain holders (Solana, Base, Ethereum, Ton), you will be able to exchange BWB for BGB on a dedicated site from 31 Dec 12:00 (UTC+8) onwards. We will release more details with further instructions soon. If you hold BWB on Bitget or MEXC, please refer to the relevant announcements of the corresponding exchanges for exchange details. Note: BGB total token supply is not affected by the token merge and will remain unchanged.
Unified token to power a new era
To onboard a billion users onto Web3 and empower them with freedom of finance has always been Bitget Wallet's vision. With this token merger, we believe synergies from the overall Bitget and Bitget Wallet ecosystem will accelerate our path to achieve the vision.
At the same time, the token merge marks the start of a new era that'll massively increase the magnitude and spectrum of value given to our community of users, token holders and ecosystem partners. With the combined strength, the Bitget Wallet team is committed to building BGB into a top cryptocurrency as well as a landmark brand in web3.
Thank you for your continued trust and support.
2024-12-26
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