Bitget Rolls Out Bitget Token on PoolX, Giving Users the Opportunity to Stake BTC, ETH, and USDT for BGB Mining Rewards
In Brief
The crypto trading platform Bitget has launched an enhanced token known as Bitget Token (BGB) on the PoolX platform, which comes with an impressive reward pool totaling 600,000 BGB.
Cryptocurrency exchange Bitget The platform has rolled out its revamped Bitget Token (BGB) on its new stake-to-mine platform, PoolX. Users have the option to stake cryptocurrencies like BTC, ETH, and USDT and earn BGB through engaging in mining activities, with a total pool of rewards of 600,000 BGB.
In line with the platform's evolution, BGB has redefined the privileges that were previously tied to the old platform token, BFT (Bitget Defi Token). It's worth noting that this ongoing event is particularly aimed at users in Chinese-speaking regions.
Here's how the staking limits are set up: Users can stake a maximum of 2 BTC, 14 ETH, or 100,000 USDT. Both the BTC and ETH mining pools are set to distribute a combined total of 150,000 BGB, while the USDT pool will share 300,000 BGB.
Mining activities are scheduled to begin at 10:00 AM (UTC+8) on June 14 and will run until 10:00 AM (UTC+8) on June 21.
Bitget Token (BGB) serves as the native token of the exchange itself. The roadmap for BGB’s distribution provides for a total of 2 billion tokens. Of this amount, 25% has been exchanged with holders of BFT. The remaining supply of 75% will be allocated as follows: 15% for community initiatives and user buybacks, 15% for marketing and growth, another 15% for ecosystem investments, 20% for incentives for the core team, and 10% for a fund dedicated to investor protection. These allocations will be rolled out gradually over time.
Bitget Launches PoolX, Introducing BWB and IO Tokens for Mining Opportunities
Bitget is recognized as a prominent derivatives exchange The exchange is recognized for its significant trading volumes and has attracted a global user base that exceeds 19 million.
PoolX is a brand-new platform from Bitget, designed specifically for users to stake various cryptocurrencies in exchange for different tokens. Every project featured on PoolX includes one or more mining pools, where token rewards are distributed hourly in accordance with the staking contributions made by users.
Recently, Bitget has launched the Bitget Wallet on PoolX, enabling users to engage in mining BWB tokens the mining event that continues until June 21st, featuring a total reward pool of 2 million BWB tokens. In addition, IO tokens from io.net have now been included in PoolX, with mining opportunities open until June 22nd.
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