By merging BGB and BWB, we are taking a major step toward building a unified and robust ecosystem that bridges on-chain and off-chain applications.
Cryptocurrency exchange Bitget has merged its two native tokens, unifying them into a single ecosystem token called BGB.
The move comes as a response to strong community demand and aims to streamline the Bitget ecosystem by integrating both on-chain and off-chain applications. As the exchange’s native utility token, BGB will now serve as the core asset across major blockchain ecosystems, driving the growth of the Bitget family.
Following the merger, BWB will no longer be available as a separate token. To ensure a smooth transition, BWB holders on the Bitget exchange can automatically swap their BWB to BGB. In detail, BWB tokens will be converted into BGB at a 0.08563 ratio, calculated using a 7-day average closing price of the BWB/USDT pair on Bitget. After the swap, all BWB tokens will be burned, and the equivalent BGB will be airdropped to users’ accounts. Meanwhile, BWB trading and related services will cease on December 27.
"BGB has experienced an incredible year, with its market cap increasing by over 750%, making it the best-performing CEX token in 2024. This success is backed by the strong community support and growing demand for BGB across various use cases.” Gracy Chen, CEO of Bitget, commented, “By merging BGB and BWB, we are taking a major step toward building a unified and robust ecosystem that bridges on-chain and off-chain applications. This move will enhance the utility of BGB, and ensure that every holder benefits from Bitget ecosystem growth.”
With the launch of Bitget Pay in 2023, BGB has already been adopted by over 300 merchants globally. In the future, BGB will continue to explore real-life use cases, enabling users to pay for dining, travel, fuel, shopping, and more, offering a seamless Web3 PayFi experience.
Throughout 2024, BGB has seen exceptional growth, ranking among the top 30 tokens and establishing itself as a leading utility token with excellent liquidity and a strong community. This merger will further enhance BGB's role within Bitget’s ecosystem and create new opportunities for it to explore the dynamic decentralized world.
For more details about the token merger, please visit thelink.
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