Bitget Launches its First Listing Vote With AFKDAO

[PRESS RELEASE – Please Read Disclaimer]

A step to further empower BGB

Singapore, 15 June 2022 – Leading global derivatives exchange – Bitget, is pleased to announce the launch of its first listing vote with AFKDAO, a DeFi infrastructure for utility NFTs.

To fully meet and understand the needs from platform users, a voting mechanism is initiated for the community to decide whether to list a new project on Bitget. The inclusion of a voting platform marks an important step by Bitget to further empower BGB, its upgraded platform token with multiple uses, which acts as a vote token this time.

The vote on AFKDAO’s listing will attract participants with a reward pool of 700,000 AFK, the native token of AFKDAO. When the required number of votes is met, all the users who participated can claim a reward. If the criterion is not satisfied, the listing of this project will be cancelled and users’ staked tokens will be unlocked.

“The NFT market is booming with some excellent and popular projects. Along with this, we already see a huge demand for improving the utilisation efficiency of NFTs and would like to help find and support those quality projects,” said Gracy Chen, Managing Director of Bitget.

Being an effective incentive and catalyst, not only do they stimulate engagement among users, but they also increase activity of the community, since they allow BGB holders to have more benefits and sway.

“Well-designed tokenomics could spur Bitget’s development and expansion as a dynamic platform. BGB is integral to our comprehensive ecosystem, with its vision to connect the vast world of crypto by bridging the gap in cross-chain technologies. With this native utility token of Bitget, users can enjoy various functionalities through one single platform. Powered by BGB, Bitget is well positioned to create an innovative and vibrant ecosystem, attracting more potential partners to join,” Gracy added.

Serving as a DeFi infrastructure for utility NFTs, AFKDAO aims to boost the value of NFTs by increasing their utilisation efficiency, including membership pass, game NFTs etc. They also strive to make NFTs rentable and accessible to NFT-specific DeFi services to make them a real asset class rather than ones being tied up to sole centralised utilities within a game.

AFKDAO has closed its seed fundraising round with 10 investors of active Web3 players and blockchain industry players including DFG, Froyo Games, Genesis Block Ventures (GBV), and more.

For more information, please visit the voting page: https://www.bitget.com/en/votecoin

About Bitget

Established in 2018, Bitget is one of the world’s leading cryptocurrency exchanges. Currently serving over two million users in more than 50 countries around the world, Bitget accelerated its mission to promote decentralised finance in 2021 with a 500-strong workforce spanning over 20 countries.

Since Bitget’s official launch in the crypto derivatives market in June 2019, the platform has now become one of the world’s largest crypto copy trading and derivatives exchanges, and is ranked in the top five globally by CoinMarketCap and CoinGecko for derivatives trading by volume. Bitget’s flagship product, One-Click Copy Trade, has attracted more than 20,000 copy traders, innovating the experience for crypto derivatives traders worldwide.

Adhering closely to its philosophy of ‘Better Trading, Better Life’, Bitget is committed to providing comprehensive and secure trading solutions to users globally, aiming to be the portal that transcends Web2 and Web3, that connects CeFi and DeFi, resulting in an expansive bridge to the vast web of crypto. In September 2021, Bitget announced its sponsorship of world-renowned football team Juventus as its first-ever sleeve partner and PGL Major’s official esport crypto partner soon after. Partnerships with the leading esports organization, Team Spirit, and Turkey’s leading and long-standing football club, Galatasaray, were also announced in early 2022.