Bitget has announced the merger of the BGB and BWB tokens to promote a comprehensive upgrade of the BGB on-chain ecosystem.

BlockBeats News, December 26, 2024 — In a significant move, Bitget has officially announced the merger of its native token Bitget Token (BGB) with Bitget Wallet Token (BWB) on December 12, 2024, to create a more unified and synergistic ecosystem. The merged BGB will become the sole ecosystem token for both Bitget Exchange and Bitget Wallet, expanding to multiple on-chain applications and enhancing user experience.

According to the official announcement, BWB holders can convert BWB tokens to BGB at a ratio of 0.08563, with the conversion calculation based on the 7-day average closing price of BWB/USDT. The token swap will commence shortly, and upon completion, all BWB tokens will be burned, and an equivalent amount of BGB will be airdropped to user accounts. Starting from December 27, BWB trading and related services will be suspended.

Bitget CEO Gracy Chen stated that the market value of BGB has surged by over 1,000%, propelling it into the global top 20. This token merger will further enhance the Bitget ecosystem, connect on-chain and off-chain scenarios, and ensure that holders benefit from the ecosystem's growth.