Bitget is about to launch Bitcoin Improvement Proposals 1 (BIP1) on Launchpad with a BGB and Sunshine Pool
Victoria, Seychelles–(Newsfile Corp. – May 10, 2023) – Bitget Announced Bitcoin Improvement Proposals 1 (BIP1) at Launchpad with BGB and Sunshine Pool. BIP1 is a BRC20 token based on the Ordinals protocol. Billing itself as “Bitcoin’s First Improvement Proposal”, BIP1 symbolizes the continuous improvement of the Bitcoin network and is a testament to the contributions of BRC20 to the Bitcoin ecosystem.
Bitget is about to launch Bitcoin Improvement Proposals 1 (BIP1) on Launchpad with a BGB and sunshine pool.
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Log in to the Launchpad page
BIP1 Launchpad details
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Token: Bitcoin Improvement Proposals 1 (BIP1).
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Total Supply: 21,000,000 BIP1.
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Launchpad volume: 2,100,000 BIP1 (10% of total supply).
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BGB Pool: 1,890,000 BIP1 (90% of Launchpad volume).
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Sunshine Pool: 210,000 BIP1 (10% of Launchpad volume).
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Exchange rate: 1 BIP1 = 0.1 USDT (BGB price will be announced 3 hours before snapshot period ends).
BGB pool
BGB pool volume: 1,890,000 BIP1.
Tickets: 18,000; 1 ticket = 105 BIP1.
How to participate:
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Register for a Bitget account and complete KYC verification.
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Log in to the Launchpad page and use the button to register.
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Hold BGB in an asset account so that the average BGB holding volume can be calculated based on the snapshots taken from May 11 at 15.00 – 14 May at 15.00 (UTC+8).
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An average BGB holding volume of at least 2,000 BGB is required.
(1) No tickets will be distributed to accounts with an average BGB holding volume of less than 2,000 BGB.
(2) For accounts with an average BGB holding volume of less than 2,000 BGB, the balance will appear under My BGB Holdings instead of Total BGB Holdings.
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Users can view their account’s estimated number of tickets during the snapshot period.
(1) Estimated/final ticket allocation = users’ average BGB holding ÷ total average holding for all participating users × total Launchpad tickets in the BGB pool. The number of allocated tickets is always rounded down. If a user were to be allocated 1.9 tickets, they will be allocated 1 ticket. If a user were to be allocated 0.5 tickets, they will be allocated 0 tickets.
(2) Number of tickets that can be exchanged per person: 1 ticket (105 BIP1) – 360 tickets (37,800 BIP1).
(3) The estimated tickets change by the percentage of users’ BGB holding volume during the snapshot period.
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After the exchange period starts, users must exchange BGB to BIP1 on the Launchpad page manually. Bitget will announce the price of BGB three hours before the snapshot period ends.
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Note that the snapshots of the BGB inventory will be taken after successful registration. Be sure to register as early as possible. Users’ average BGB holding = Users’ BGB holding at the time of the snapshot ÷ total number of snapshots. The total number of snapshots during the snapshot period is fixed. If you register later than the start time of the snapshot period, users may miss some snapshots.
Sunshine pool
Sunshine Pool Volume: 210,000 BIP1.
How to participate:
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Users who participated in the BGB pool but received less than 1 ticket can take a share of the 210,000 BIP1 Sunshine pool after the BGB holding pool results are announced on May 14 at 15.00 (UTC+8).
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Each user can get up to 105 BIP1.
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BIP1 rewards from the Sunshine pool will automatically be exchanged for BGB. Details will be revealed after the BGB holding pool results are announced on May 14 at 15.00 (UTC+8). Users should ensure they have enough BGB to make the switch.
Bitcoin Improvement Proposals 1 (BIP1) Launchpad Plan
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Campaign phase |
Date |
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Snapshot period |
11 May at 15.00 – 14 May at 15.00 (UTC+8) |
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Ticket calculation |
May 14 at 15.00 – 14 May at 18.00 (UTC+8) |
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Announcement of ticket allocation |
May 14 at 18.00 (UTC+8) |
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Token Swap |
May 14 at 18.00 – 15 May at 14.00 (UTC+8) |
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BIP1 distribution |
May 15 at 16.00 (UTC+8) |
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BIP1/USDT spot trading is launched |
May 15 at 18.00 (UTC+8) |
About Bitget
Bitget, established in 2018, is the world’s leading cryptocurrency exchange with futures trading and copy trading services as key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentine soccer player Lionel Messi, leading Italian soccer team Juventus, and official eSports organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.
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