The leading spot trading Bitget exchange has decided to go ahead with a repeat deployment of its native Launchpad project to assist aspiring and promising early-stage 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 be putting 1,000,000 native BBO utility tokens up for sale.
The growing interest of cryptocurrency market users towards platform-assisted project launches has spurred Bitget to revive its Launchpad, which was put on hold in June of 2022, despite having showcased up to 29x ATH returns since its initial launch in February of 2022. Gracy Chen, the Managing Director of Bitget, has stated that the re-launch of the Bitget Launchpad is part of the new Go Beyond Derivatives strategy, which foresees the expansion of the exchange’s operations beyond the trading arena. The endeavor is also aimed at supporting promising early-stage startups that mean to have an impact on the industry and provide an innovative Web3 experience.
Panda Farm is a fully on-chain GameFi metaverse that provides its users with a gamified reward sharing experience. Players receive their winnings from a common prize pool for participating in various competitions. The Foodies Competition is set to become the first in a long lineup of events that Panda Farm promises to deliver in the coming months after the end of the token sale.
Bitget encourages its users to join the token sale, requiring them to hold a minimum of 100 native BGB tokens on their accounts to be eligible for participation. Allocation will be decided based on BGB tokens held on user accounts. Trading of the BBO utility token will be launched on the Bitget exchange starting February 20, giving all willing users ample time to stock up during the token sale.
Representatives of the Panda Farm project have praised the importance of the partnership with Bitget, highlighting the immense opportunities for community scaling that the listing on the Launchpad provides. Such a move is an important landmark for the project, allowing it to reach new investors and users seeking exciting entertainment.
Bitget has seen considerable traction in recent days, its native BGB token spiking in price by up to 80%. The development has pushed Bitget up the listing charts to the 12th position on Coinmarketcap by spot trading volumes. The exchange is expanding rapidly, adding up to 20 new assets per month, thus bolstering its already impressive lineup of 430 listed coins and 530 trading pairs at the time of writing. The slow thawing of prices of the cryptocurrency market’s leading assets, such as Bitcoin, is having a positive impact on trading volumes and is driving user interest towards trading venues and the promising projects they support.
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