Leading spot trading exchange Bitget has decided to continue rolling out its native Launchpad project to help early-stage and promising projects with market entry and community scaling. The first project to be hosted on the Launchpad, starting February 16, will be the decentralized Panda Farm GameFi project, which will put 1,000,000 native BBO utility tokens up for sale.
Growing interest from cryptocurrency market users in platform-assisted project launches prompted Bitget to relaunch its Launchpad, which was suspended in June 2022, despite having featured up to 29 times ATH returns since its initial launch in February 2022. Gracy Chen, Bitget’s chief executive, said the relaunch of the Bitget Launchpad is part of the new Go Beyond Derivatives strategy, which envisions the exchange’s operations expanding beyond- beyond the commercial sphere. The effort also aims to support promising startups that want to impact the industry and deliver an innovative Web3 experience.
Panda Farm Token Sale
Panda Farm is an all-chain GameFi metaverse that offers its users a gamified reward sharing experience. Players receive their winnings from a common prize pool for participating in various competitions. The Foodies contest is set to become the first in a long line of events that Panda Farm promises to hold in the coming months after the token sale ends.
Bitget encourages its users to join the token sale, requiring them to hold a minimum of 100 native BGB tokens in their accounts in order to participate. Allocation will be decided based on BGB tokens held on user accounts. Trading of the BBO utility token will launch on the Bitget exchange from February 20, giving all willing users ample time to stock up while the token is on sale.
Representatives from the Panda Farm project praised the importance of the partnership with Bitget, noting the immense community-scaling opportunities the listing on the Launchpad offers. Such a decision is an important step for the project, allowing it to reach new investors and users looking for exciting entertainment.
Bitget has seen considerable traction in recent days, with its native BGB token price increasing by up to 80%. The development propelled Bitget up the rankings to 12th position on Coinmarketcap in terms of spot trading volumes. The exchange is growing rapidly, adding up to 20 new assets per month, bolstering its already impressive lineup of 430 listed coins and 530 trading pairs at the time of writing. The slow thaw in the prices of major assets in the cryptocurrency market, such as Bitcoin, is having a positive impact on trading volumes and increasing user interest in trading platforms and the promising projects they support .