The tepid restoration of the cryptocurrency market’s key indicators in recent weeks has spurred the leading spot trading Bitget exchange to revive its Launchpad project. The hosting platform launched the token sale of the GameFi Panda Farm project’s BBO utility token on February 16, giving interested users the chance to acquire a share of the 1,000,000 utility tokens put up for sale.
The Bitget Launchpad was released in February of 2022, showing impressive traction over the next six weeks by yielding up to 29x in ATH for the five early-stage projects listed on it. The Launchpad was put on hold in June of 2022 and is now being redeployed with renewed force as Bitget scales its operations in the cryptocurrency space and is determined to provide promising projects with a powerful fast-tracking mechanism.
GameFi Panda Farm is the first project to take advantage of the new opportunity provided by Bitget. The platform has already gained some interest among gamers as it gives users the chance to tap into lucrative prize pools. The many options on offer vary in both genre and rewards, with the first being the Foodies Competition. Panda Farm promises more competitions in the coming months, keeping players on edge with anticipation.
All users of Bitget willing to participate in the Panda Farm BBO utility token sale will have to hold a minimum of 100 Bitget BGB tokens. Allocation will be determined based on BGB tokens held on user accounts. The BBO token will be available for trading on Bitget starting February 20 once the token sale comes to an end.
Gracy Chen, the Managing Director of Bitget, has stated that the relaunch of the Launchpad project is a major step for the exchange and is part of the new Go Beyond Derivatives strategy. Though the exchange is focusing on expanding its flagship spot trading facilities via the addition of new assets and trading pairs, expansion into other sectors of the cryptocurrency market is of considerable importance as well, aimed at supporting early-stage projects that can make an impact in the industry. Ms Chen has also stated that the partnership with Panda Farm is a firm step towards giving users of the exchange a more in-depth Web3 experience.
William, a community contributor of the Panda Farm project, has confirmed commitment to the partnership with Bitget, stating that it will open new horizons for development and allow the GameFiendeavor to tap into new user and investor audiences.
Bitget has recently climbed to the top ranking of Coinmarketcap by spot and derivatives trading volume, in large part thanks to its ongoing listing of new assets and trading pairs, standing at an average of 20 per month. With over 400 listed coins and 500 trading pairs, Bitget is set to follow a new development strategy that will support the ongoing growth of its native BGB token’s price, which has seen an 80% uptick over the course of the last week.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.