Bitget Wallet Partners with Ethena, Expanding Access to Ethereum-based Synthetic Dollars

Bitget Wallet has partnered with Ethena, enabling users who have deposited over 100 USDT with Ethena to receive BWB points, convertible to BWB tokens after an airdrop campaign. Bitget Wallet users can access Ethena's services through the mobile app or browser extension and benefit from enhanced rewards for holding USDe stablecoins.

Bitget Wallet Partners with Ethena, Enhances Access to Ethereum-Based Synthetic Dollars

Singapore, April 12, 2023 - Bitget Wallet, a leading Web3 wallet provider with a global reach, has announced a strategic partnership with Ethena, an Ethereum-based platform specializing in synthetic dollars. This collaboration grants qualified users access to Ethena's services through the Bitget Wallet, simplifying their experience and offering lucrative incentives.

Enhanced Accessibility and User Convenience

Through this partnership, Ethena becomes seamlessly accessible to users on mobile devices and via browser extensions through the Bitget Wallet. This integration empowers users to conveniently manage their token transactions, participate in staking, engage in the Pendle campaign, and trade USDe, Ethena's native stablecoin. Additionally, the Bitget Wallet's enhanced mobile DApp browser further streamlines the user experience.

Eligibility for Lucrative Rewards

As part of the partnership, Bitget Wallet has launched a BWB Points airdrop campaign targeted at qualified Ethena users. Users who have transacted at least 100 USDT on Ethena within the past three months are eligible to receive BWB Points. Upon the Token Generation Event (TGE) and Initial Exchange Offering (IEO) of the BWB token, which is planned for the second quarter of 2023, BWB point holders can convert their points into the token and commence receiving a dividend based on the rewards generated by Bitget Wallet's growth within the Web3 ecosystem.

Expanding the BWB Ecosystem

The collaboration with Ethena marks the launch of Bitget Wallet's BWB Ecosystem Partner Program. This initiative aims to accelerate participation in the burgeoning decentralized finance (DeFi) sector and foster collaborations with innovative projects. The program connects over 70 blockchains and projects, including Ethena, and rewards users with BWB Points for meeting specific conditions.

Ethena's Prominence in the DeFi Landscape

Ethena's USDe stablecoin has gained significant traction within the DeFi ecosystem, delivering exceptional performance. In March 2023, USDe became the top-performing decentralized application in terms of earnings, offering an impressive 67% annual percentage yield (APY). The current APY on Ethena's stablecoins remains at a robust 24%.

Ethena's Value Proposition for the Industry

Ethena's USDe is revered as the first censorship-resistant, scalable, and crypto-native money solution. Its transparency, on-chain recording, and seamless integration across DeFi platforms make it a highly sought-after asset. USDe maintains its peg to the US dollar through delta hedging, ensuring stability.

Conclusion

Bitget Wallet's partnership with Ethena presents a compelling opportunity for users to engage with Ethena's services effortlessly and reap the benefits of lucrative rewards. As the DeFi ecosystem continues to expand, this collaboration demonstrates Bitget Wallet's commitment to providing users with access to innovative and rewarding Web3 solutions.