VICTORIA, Seychelles, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Bitget Wallet, a leading Web3 non-custodial wallet, is expanding the utility of its native token, Bitget Token (BGB), alongside the launch of a limited-time BGB onchain staking program on Morph chain. BGB is evolving into a bridge connecting onchain ecosystems and real-world applications. The onchain staking program offers higher returns while enhancing fund autonomy and privacy, providing users with greater security compared to centralized options.
The first BGB onchain staking program will run from February 14, 2025, 20:00 (UTC) to February 21, 2025, 20:00 (UTC) with a staking pool capped at 350,000 BGB. Users can stake their tokens through Bitget Wallet's BGB Center or Bitget Exchange's Earn section for a 90-day period and earn 5% APY fixed returns along with access to 20,000 Morph Points. For every 15 BGB staked, users will receive 1 Morph Point, which can be redeemed for future Morph tokens and other rewards.
BGB's expanding utility is central to Bitget Wallet's long-term vision, with applications in decentralized trading, staking, and payments driving its growth. As a multi-chain gas token within Bitget Wallet, BGB eliminates the need to manage multiple gas tokens across different blockchains, simplifying onchain interactions and ensuring smoother user experiences. Staking BGB onchain allows users to earn rewards and qualify for project airdrops, while VIP holders can access exclusive benefits, including Bitget Wallet Card cashback and other premium services through Bitget Wallet's growing PayFi ecosystem. These features bridge the gap between DeFi returns and real-world spending opportunities.
BGB's market momentum highlights its growing demand and deflationary design. Over the past two months, BGB's price has surged over 320%, driven by increased utility and token burn. Starting in 2025, Bitget will implement quarterly token buybacks and burns to reduce the token's circulating supply and enhance token value. By encouraging long-term holding, this strategy aims to maintain steady growth and strengthen BGB's role within Bitget's ecosystem.
"BGB's rapid growth reflects its key role in the Web3 ecosystem," said Alvin Kan, COO of Bitget Wallet. "As we continue expanding BGB's utilities in staking, payments, and decentralized finance, we are committed to creating long-term value and a dynamic, sustainable community." To support community participation, Bitget Wallet will host the BGB Builders Night during the Hong Kong Consensus event, where discussions will focus on BGB's future.
Learn more on the Bitget Wallet blog.
About Bitget Wallet
Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users' assets. Experience Bitget Wallet Lite to start a Web3 journey.
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