Bitget is launching a Launchpool for the Midnight (NIGHT) token with a 12,000,000 NIGHT prize pool. Users can stake Bitget's native token (BGB) or NIGHT to earn rewards in the new token. The staking event runs from April 9, 19:00 to April 16, 19:00 (UTC+8).
Crypto exchange Bitget is set to launch the Midnight (NIGHT) project on its Launchpool platform, offering a total prize pool of 12,000,000 NIGHT tokens to participants.
The event, aimed at bootstrapping liquidity and engagement for the new token, allows users to earn NIGHT by staking either Bitget’s native BGB token or NIGHT itself. According to the announcement, the staking window will be open for one week, starting from April 9 at 19:00 and concluding on April 16 at 19:00 (UTC+8).
This Launchpool event follows a common model used by exchanges to introduce new assets to the market. By requiring users to lock up existing tokens, specifically the exchange's own BGB token, Bitget can stimulate demand for BGB while simultaneously distributing the new NIGHT token to an engaged user base. The structure provides an incentive for users to hold BGB, potentially increasing its utility and value.
The launch is expected to generate the initial trading volume and price discovery for the NIGHT token. The success of such Launchpool events can have a positive impact on the market's perception of both the new project and the exchange platform itself, often leading to increased user activity on the exchange.
This article is for informational purposes only and does not constitute investment advice.
