Bitget Wallet Announces Native Token After $30 Million Raise – Here’s The Details

Bitget Wallet, a cross-chain crypto wallet formerly known as Bitkeep, is launching a native crypto token to reward its early users.

As announced by the company on Monday, the six-week period to gain eligibility for the airdrop is already underway via the BWB Points Airdrop Campaign.

Bitget’s New BWB Token

BWB points are pre-distributed and may be redeemed for the BWB token at the time of its airdrop in Q2.

The points have already been dropped to Bitget wallet users based on their wallet balance, swap transactions, and other activities. Users of other Web 3 wallets – including MetaMask, Trust, Coinbase Wallet, or Phantom – may have also received points based on swap activity.

Today, we launch our ecosystem token $BWB #airdrop plan

We're featuring:
1⃣ Six-week #BWB Points campaign
2⃣ Airdrop BWB Points (Convertable to $BWB in Q2)
3⃣ IEO in May/June

Initial points have already been dropped to users of #BitgetWallet and several other wallets… pic.twitter.com/g06rgCq16U

— Bitget Wallet 🩵 (@BitgetWallet) March 18, 2024

Bitget also offers a 50-point signup for any new users who join today, with potentially more rewards for those who maintain their wallet balance, swap, or refer new users.

“The launch of BWB signifies not only a significant milestone in our growth journey but also a testament to your enduring trust and support for Bitget Wallet,” wrote Bitget in the announcement. “With the introduction of BWB, Bitget Wallet is poised to embark on a new phase of development.”

Bitget Wallet is the largest Web3 wallet in Asia, boasting 19 million global users. It supports over 100 blockchains and over 250,000 cryptocurrencies, while also aggregating liquidity across hundreds of DEXs.

Moving From BitKeep to Bitget

Bitget rebranded to its current name from Bitkeep following a controlling stake acquisition from its namesake exchange in August 2023. It received a $30 million investment at the time at a valuation of $300 million.

Under the Bitkeep name, the wallet previously issued BKB platform points that were stored within cloud wallets. The company is also allowing those points to be redeemed for BWB at a ratio of 6:10, which aligns with their max supplies of 600 million and 1 billion, respectively.

“It’s important to us that BWB serves as a key to unlocking exclusive benefits for its holders, offering them a voice in community governance, access to ecosystem airdrops, and a dividend in the rewards driven by the growth of Bitget Wallet,” wrote Alvin Kan, COO of Bitget Wallet.

Bitget’s token launch mimics that of Trust Wallet, which launched its TWT tokens after its acquisition by Binance in 2020. The token has since accrued massive returns of 19,599%, with the wallet boasting a reported 80 million users.

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