Bitget announced the merger of its native token Bitget Token (BGB) and Bitget Wallet Token (BWB). The merged BGB will become the only ecological token for Bitget Exchange and Bitget Wallet, and will expand more usage scenarios such as on-chain applications to further enhance the synergy and user experience of the ecosystem.
Bitget CEO Gracy Chen said: "BGB's market value has increased by more than 1,000%, and its market value ranking has entered the top 20 in the world. By merging BGB and BWB, a unified ecosystem will be built to connect the on-chain and off-chain usage scenarios, allowing holders to share the dividends of Bitget's ecological growth."
According to the official rules, BWB holders on the Bitget platform can automatically exchange BWB for BGB. Specifically, BWB tokens will be converted to BGB at a ratio of 0.08563, calculated as the average closing price of BWB/USDT in the past 7 days. The token exchange will begin soon. After the exchange is completed, all BWB tokens will be destroyed and the equivalent BGB will be airdropped into the user's account. At the same time, all BWB transactions and related services will be stopped on December 27.