Bitget Wallet Partners with Ethena, Expanding DeFi Accessibility for Users

Bitget Wallet and Ethena have partnered to enhance the user experience and promote DeFi adoption. Users who deposit over 100 USDT in Ethena via Bitget Wallet will receive BWB Points, redeemable for future BWB token rewards. Additionally, Ethena USDe holders in Bitget Wallet will earn a 20% bonus, while the BWB Ecosystem Partner Program connects users to various projects and rewards them with BWB Points.

Bitget Wallet Partners with Ethena, Expanding Accessibility to DeFi Ecosystem

Bitget Wallet, a prominent Web3 wallet service, has forged a strategic partnership with Ethena, an Ethereum-based platform specializing in synthetic dollars. This collaboration aims to enhance user access to decentralized finance (DeFi) products and services.

Collaboration Details

Through this partnership, Bitget Wallet users can now seamlessly access Ethena's offerings via their mobile devices or browser extensions. This integration enables users to conveniently manage token transactions, participate in staking, contribute to Pendle campaigns, and trade Ethena's USDe stablecoin. The integration also allows for the deposit of ENA tokens into Pendle, where users can accumulate rewards points and secure favorable interest rates.

Bitget Wallet has also introduced a compelling incentive program. Users who maintain their USDe stablecoin holdings in the wallet for a period of at least seven days will receive a 20% increase in rewards.

BWB Ecosystem Partner Program

In addition to the Ethena partnership, Bitget Wallet has launched the BWB Ecosystem Partner Program. This initiative seeks to foster participation in the DeFi sector and cultivate collaborative project development. The program collaborates with over 70 blockchains and projects, including Ethena, providing BWB Points as rewards to users who fulfill specific criteria.

BWB Token Generation Event

The BWB token, the native asset of the Bitget Wallet ecosystem, is scheduled to undergo a Token Generation Event (TGE) and Initial Exchange Offering (IEO) in the second quarter of 2023. Upon completion of the TGE, BWB point holders will be eligible to convert their points into BWB tokens and start receiving dividends from Bitget Wallet's future revenue streams. New users who download the Bitget Wallet application will automatically receive 50 BWB points, convertible to the token after the TGE.

Eligibility for BWB Points Airdrop

Bitget Wallet is currently conducting a BWB Points airdrop campaign targeted at Ethena users who have transacted at least 100 USDT within the past three months. Eligible participants will receive BWB Points, convertible into BWB tokens in the future. The airdrop, which commenced this month, runs until April 28th and is open to both new and existing Bitget Wallet users. Specific wallet tasks will be assigned to accelerate point accumulation.

Ethena's Market Performance and Value Proposition

Ethena has experienced remarkable growth in recent months, with its USDe stablecoin becoming the top-performing decentralized application in terms of earnings in March. Its stablecoins currently offer an annual percentage yield (APY) of 24%.

Ethena's USDe represents a censorship-resistant, scalable, and crypto-native money solution. Its value is underpinned by complete on-chain transparency, enabling seamless integration across the DeFi ecosystem. The stability of the USDe peg is maintained through delta hedging, offsetting derivatives positions against the protocol's collateral.

The partnership between Bitget Wallet and Ethena is a significant development in the DeFi space, providing users with enhanced access to innovative products and services. The BWB Ecosystem Partner Program and the upcoming BWB token TGE further support the growth and adoption of Web3 technologies.