Bitget Lists SWELL Tokens on Its Platform, Enabling Users to Participate in the Growing Ethereum Reststaking Ecosystem

Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of SWELL tokens on its platform, which includes a range of products

Cryptocurrency exchange Bitget has listed SWELL tokens on its platform with a total pool of 23,440,000 SWELL tokens up for grabs by eligible users.

The first initiative is a Launchpool campaign where users can earn rewards from a total allocation of 19,500,000 SWELL tokens by locking BGB and USDT to share a common fund. This exclusive event will be available from November 7, 2024, at 10:00 UTC, until November 14, 2024, at 10:00 UTC, enabling users to participate in the growing Ethereum restaking ecosystem through the advanced staking protocols of Swell.

Moreover, a Poolx event has been organized for SWELL, allocating 1,800,000 tokens where users can stake their tokens to mine more. Additionally, a Candybomb promotion will distribute 2,000,000 SWELL tokens among users based on their trading activities.

Designed as a restaking performance layer for Ethereum, Swell introduces a range of liquid staking and restaking options tailored for decentralized finance (DeFi). As the first to offer a vertically integrated restaked Layer 2 rollup, Swell aims to enhance user profitability and staking efficiency within the Ethereum network.

In March 2022, Swell Network raised $3.75 million in a Seed round led by Framework Ventures, supported by IOSG Ventures and Maven 11 Capital.

On October 9, 2024, Swell unveiled the tokenomics of its native token, SWELL. Out of the total supply of 10 billion SWELL tokens, 8.5% is allocated to the community. The SWELL token will fulfill three main roles: serving as a governance token for Swell DAO, being used for restaking to secure Swell L2 applications and infrastructure, and paying for gas fees on the network.

Returning to Launchpool, it offers two distinct locking pools. The primary reserve, with a total allocation of 16,000,000 SWELL, is open to users who lock BGB, Bitget’s native token. Airdrops will be distributed every hour based on the locked volume of each participant, ensuring that users receive rewards proportional to their commitment to the common fund.

The secondary fund is specifically designed for new users joining after November 5, 2024, and offers a portion of 3,500,000 SWELL for those who lock their USDT. With a maximum lock limit of 2,000 USDT and a minimum requirement of 5 USDT, this fund provides an accessible entry point for newcomers to the platform.

Bitget’s Launchpool employs an efficient airdrop system, distributing tokens every hour to participating users. This approach allows participants to quickly see the returns on their locked assets, while the Poolx and Spot markets cater more to professional traders, helping them earn rewards on existing tokens.

Founded in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. With over 45 million users across more than 150 countries and regions, Bitget is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while providing real-time access to Bitcoin prices, Ethereum prices, and other cryptocurrency prices. Previously known as BitKeep, Bitget Wallet is a top-notch multichain cryptocurrency wallet offering a wide range of Web3 solutions and features, including wallet functionality, token exchange, NFT Marketplace, DApp browser, and much more.

Bitget is at the forefront of cryptocurrency adoption through strategic partnerships, such as its role as the official cryptocurrency partner of the world’s top football league, LALIGA, in the ORIENT, MAR, and LATAM markets, as well as a global partner to Turkish national athletes Buse Tosun Çavuşoğlu (world wrestling champion), Samet Gümüş (gold medalist in boxing), and İlkin Aydın (national volleyball team), to inspire the global community to embrace the future of cryptocurrency.

Risk Warning: Digital asset prices can fluctuate and experience volatility. Invest only what you can afford to lose. The value of your investment may be affected and may not meet your financial objectives or recover your invested capital. You should always seek independent financial advice and consider your own experience and financial situation. Past results are not a reliable indicator of future results. Bitget will not be liable for any losses you may incur. Nothing herein should be construed as financial advice.