Announcement on the merger of Bitget Wallet Token (BWB) and Bitget Token (BGB)

Dear BWB and BGB holders,

Over the past year, Bitget Token (BGB) has experienced exponential growth in its holder base and market capitalization, driven by ongoing support from Launchpool and the expansion of new use cases. To further integrate on-chain and off-chain use cases and enable the Bitget Wallet Token (BWB) community to share in the benefits of the Bitget ecosystem, we are excited to announce the merger of BWB and BGB, following strong community recommendations. After the merger, BGB will become the unified ecosystem token for both Bitget and Bitget Wallet.

As one of the fastest-growing centralized exchanges, Bitget ranks among the global top three in overall trading volume. With its comprehensive one-stop trading services—including pre-market, spot, margin, and futures trading—Bitget has become the preferred platform for many high-quality projects to launch their tokens. Meanwhile, Bitget Wallet is now one of the world's largest Web3 wallets, with over 60 million users globally. Renowned for its robust features and exceptional user experience, it is a top decentralized wallet across major Layer-1 and Layer-2 ecosystems. As of now, the combined user base of Bitget and Bitget Wallet exceeds 100 million, ranking second globally.

Following the merger of BGB and BWB, BGB will act as the foundational fuel for the exchange, fully unlocking its potential in on-chain applications. BGB will be integrated into leading public chains and top DeFi ecosystems, enabling on-chain trading services while gradually becoming a core staking asset for mainstream lending and staking protocols. Additionally, BGB will seamlessly integrate with Bitget Wallet, powering features such as the Fair Launchpool and multi-chain gas fee payments across most on-chain scenarios.

Starting in 2025, BGB will also expand into offline PayFi applications, enabling seamless payments across various consumer scenarios, including dining, travel, gas, and shopping. This will provide users with a one-stop Web3 + finance + consumption solution.

As the market for crypto assets becomes increasingly saturated, only the most robust assets will retain their value and create lasting benefits for users, while the majority of tokens will fade away. With BGB already ranked among the top 30 global cryptocurrencies by market capitalization and demonstrating exceptional liquidity and strong community support, it has solidified its position as a leading platform token. This merger marks a significant milestone in Bitget's ecosystem expansion, delivering added value to both the BGB and BWB communities.

The swap of BWB for BGB will be based on the 7-day average closing price of BWB/USDT and BGB/USDT (from December 19, 2024, to December 25, 2024 (UTC+8)), as referenced on Bitget. The 7-day average closing prices for BWB and BGB are as follows:

Daily closing price	December 19	December 20	December 21	December 22	December 23	December 24	December 25	7-day average closing price
BWB	0.3899	0.3356	0.3443	0.3479	0.3504	0.3842	0.6016	0.3934
BGB	4.5338	4.3128	4.1402	4.1483	4.3012	4.9170	5.805	4.5940

Based on the data, the BWB/BGB exchange rate is 0.08563 (0.3934 / 4.5940 = 0.08563 ).

Example: If User A holds 100,000 BWB, based on the exchange rate of 0.08563, the user will receive 8563 BGB.

For more details on the token swap, please refer to: Bitget to support the merger and token swap of Bitget Wallet Token (BWB) and Bitget Token (BGB)

Note: The BWB and BGB merger and swap will not impact the total supply of BGB, and no additional BGB will be issued.

Thank you for supporting Bitget.