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Bitget Wallet rolls out BWB points airdrop, strengthening collaboration with Ethena

Friday, April 19, 2024 07:28 AM | Invezz via QuoteMedia

Bitget Wallet rolls out BWB points airdrop, strengthening collaboration with Ethena

2024-04-19 07:28:05 ET

Victoria, Seychelles, April 19th, 2024, Chainwire

Bitget Wallet , one of the largest Web3 wallets in Asia and recognized globally, has partnered with Ethena, an Ethereum-based synthetic dollar protocol. Following this collaboration, users, who deposited at least 100 USDT over the past three months on Ethena will receive BWB points airdrop. In the future, the BWB points will be enabled for converting into BWB tokens after the airdrop campaign concludes. Ethena also announced that users locking its USDe stablecoin for at least 7 days on the Bitget Wallet would be eligible for a 20% reward boost.

This collaboration allows users to engage with Ethena via Bitget Wallet’s browser extension and mobile application, making it simpler to manage token transactions, exchange USDe, engage in staking, and join the Pendle campaign . Users can also deposit ENA tokens into Pendle to either earn points or secure advantageous fixed rates. Ethena is now accessible through Bitget Wallet’s DApp browser on mobile, streamlining user interaction.

Bitget Wallet recently has also launched the BWB Ecosystem Partner Program to foster participation within the DeFi space and promote the growth of collaborative projects. This initiative unites more than 70 blockchains and projects, including Ethena, and rewards active users with BWB Points. The BWB token will start its Token Generation Event (TGE) and Initial Exchange Offering (IEO) in the upcoming second quarter.

This month, Bitget Wallet kicked off a BWB Points airdrop campaign targeted at Ethena users who have transacted at least 100 USDT in the past three months. Qualified participants are granted BWB Points, which can be converted into BWB tokens in the future, the primary token of Bitget Wallet’s ecosystem. The airdrop, running until April 28th, is open to both new and existing Bitget Wallet users and active users of other prominent Web3 wallets and includes specific wallet tasks to boost point accumulation.

Bitget Wallet announces this collaboration following Ethena’s robust performance in the past month. Ethena’s USDe stablecoin became the top-performing decentralized application in terms of earnings shortly after its release in mid-March, offering a 67% annual percentage yield (APY). The current APY on its stablecoins stands at 24%.

Ethena’s USDe is the first censorship-resistant, scalable, and crypto-native money solution, fully backed and transparently recorded on-chain, allowing for seamless integration across the DeFi ecosystem. The stability of the USDe peg is maintained through delta hedging, which offsets derivatives positions against the protocol-held collateral.

About Bitget Wallet

Bitget Wallet is Asia’s largest and a leading global Web3 wallet with over 20 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, and DApp browsing. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on nearly 50 blockchains.

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media@bitget.com

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