Bitget has launched two rewards participation events following the listing of the Monad native token (MON). The exchange is running an annual percentage reward (APR) program and an airdrop program for qualified users.
Users Receive 20% APR And Airdrop Incentives
According to the company’s blog post, the launch will offer easy entry points to users interested in Monad’s modular Layer-1 ecosystem. The promotions are currently running and will end by December 7.
Bitget has also increased its user-friendly tools. An example is the AI trading avatars, which makes it easier to execute trade strategies. The promo rate of the MON Earn product is 20% APR.
Users can join the On-Chain Earn interface whether through the mobile or web application. During this period, users have an opportunity to receive on-chain revenue before rates go back to normal. The rates go up to the usual levels at noon on December 7.
Bitget also introduced an 800,000 MON trading event, which rewards those who add to their MON balances before the end of the promo period. This reflects the rising use of crypto airdrops in the industry with users receiving compensation based on activity or the balance of their wallets.
Each day, the system records snapshots to determine users whose Earn positions have increased. The average new balance is calculated by the platform and reward is distributed according to the proportional growth.
This ensures that new and seasoned traders get an equal opportunity without having a huge starting capital. Bitget stated that the rewards shall be given within five working days upon the closure of the event.
MON Supports Bitget’s Push for Easy On-Chain Participation
CEO Gracy Chen said many users want blockchains with real utility and accessible yield opportunities. Hence, MON represents a step in that direction since it has a performance-based blockchain design.
Chen observed that the MON programs were designed to enable users to be actively involved in using the token beginning from the first day of listing. Her comments is part of the attempts of Bitget to expand on-chain earning instruments. This also aligns with the company’s launch of a Universal Exchange (UEX) that integrates a combined model for CeFi and DeFi participation.
The MON launch is introduced as Bitget prepares to add to its POS Earn product line. The exchange indicated future products will be aimed at users who like predictable staking rewards.
MON Launch Supports Bitget’s Broader Push for UEX Adoption
Bitget said that the MON campaign was another move in its plan of expanding user access to the UEX. The site continues to add features that bring yield and liquidity together under a single platform.
Bitget added that users can expect more launches in December as it continues its roadmap. Recently, it increased incentives for those participating in its affiliate program with fast-track approvals and updated creator earnings.
The MON token listing is an indication of increased interest in modular blockchain ecosystems and yield opportunities. All the details regarding the two events are available on the campaign page.
Source: https://coingape.com/bitget-launches-monad-earn-with-20-apr-mon-airdrop/
