The First BRC-20 Project Coming To Bitget Launchpad: BIP1

Serving more than 8 million users from over 100 countries and regions, Bitget is committed to providing a comprehensive and secure trading solution for its users.

In January, 2022, Bitget Launchpad was launched to bring vetted new, potential projects to our users. Bitget revamped the Launchpad platform one year later with Panda Farm (BBO), whose token recorded an incredible increase of 2000% from the IEO price.

Bitget is the first exchange to announce a BRC-20 token IEO, BIP1 (Bitcoin Improvement Proposal 1), a testament to the BRC20’s contribution to a more prosperous Bitcoin ecosystem.

BRC-20 Market Overview

BRC-20, Bitcoin Request for Comment 20, is the new token standard of the Bitcoin blockchain created by @domodata. There have been 24,667 BRC-20 tokens since March, and their total market cap currently stands at nearly $500 million. It is an astonishing number for this new ecosystem. Most BRC-20 tokens are memecoins.

BRC-20 is basically the ERC-20 version of Bitcoin. Developers create and transfer fungible tokens from Ethereum to Bitcoin using the Ordinals protocol. The popularity of this standard is increasing as many developers have “caught up with the trend” to test the technology.

So how to keep up with the trend and trade safety? Look no further than Bitget Launchpad.

BIP1: The Memecoin Tendency on Bitget Launchpad

Bitget Launchpad allows our users to invest in promising projects at an early stage, all of which are hand-chosen and rigorously reviewed by our team. Bitget is delighted to be the first crypto exchange to hold an IEO as well as listing for a BRC-20 token: BIP1.

BIP1 is a BRC-20 standard token on the Ordinals protocol. Billing itself as "Bitcoin's first improvement proposition," BIP1 symbolizes the Bitcoin network's ongoing innovation and represents all BRC-20 tokens in the Bitcoin ecosystem.

Two pools were available for those who wanted to be one of the earliest BIP1 owners: BGB Pool and Sunshine Pool.

How to participate in the pools?

BGB Holding Pool: “The more BGB you hold, the more tickets you will get.”

Users need to complete the KYC verification and hold a minimum of 2,000 BGB on average during the snapshot period. You must then log in to the Launchpad page and register for the token sale.

Sunshine Pool: Users who joined BGB Pool but received less than one shareable ticket there will be able to share Sunshine Pool's 210,000 BIP1 after BGB Pool's holding results were announced. Each person can receive up to 105 BIP1 from Sunshine Pool.

More important information for Bitget Launchpad lovers:

How does Bitget calculate your average BGB holding?

Bitget Launchpad BGB Calculation

Discover early-stage crypto investments on Bitget Launchpad

Not a Bitget user yet? Sign up today for more insights and receive a $5005 reward!

Friendly Reminder: Don’t miss out the incredible opportunity to expand your knowledge and stay informed about the exciting world of cryptocurrencies and blockchain technology with Bitget Blog. Join the community of readers who regularly engage with Bitget Blog and take your understanding of this transformative industry to new heights.