How to play this peer program by returning 30% of the fee income to the users?

Today we chat about the recent big news in the cryptocurrency circle: Bitget's security incident and the subsequent plan for its peers. To be honest, when the news first broke, I was quite anxious, thinking Bitget would follow in BitMart's footsteps. But unexpectedly, BG not only quickly contained the risk but also directly presented an answer beyond everyone's expectations—allocating 30% of the fee income as user rewards, which is the "Peer Plan." Is this excellent public relations or a genuine return to users? Let's not dwell on that; the benefits that directly reach us users are real.

Let’s briefly review the entire incident. The starting point was two particularly inconspicuous small transactions late at night on September 24: one was 0.184 ETH, and the other was 193 TRX. How small were the amounts? Many traders, noticing this fluctuation, might not even bother to check their profit curves. But the hacker was focused on these two transactions—they were test transactions used to confirm whether the permissions on hand could invoke Bitget's wallet system.

The two test transactions were successfully completed, and about half an hour later, large assets began transferring to unfamiliar addresses. At 2:31 AM on September 25, Bitget's security system triggered an abnormal alert. The funds involved came from part of the platform’s hot and warm wallets, covering several cryptocurrencies including ETH, XRP, USDT, ZEC, and TRX, spread across different blockchain networks. After further calculation, the affected assets amounted to about $388 million, making it the largest single theft in the cryptocurrency circle this year. Fortunately, Bitget’s user protection fund has $464 million, enough to cover all losses, and users’ funds were not affected. The vulnerability was quickly fixed, and withdrawals were gradually restored in phases.

After the storm passed, the platform directly presented a reward plan: allocating 30% of the net trading fee income from non-institutional users to create a dedicated prize pool as a reward for users who trusted the platform during this period, which is the "Peer Plan." Many people asked how this activity works and whether they could reap any benefits, so today we will break down the rules to see which one suits you.

The entire activity runs from September 28 to October 26, with a cycle of 7 days, totaling 4 phases. 60% of the prize pool is allocated based on user trading volume, called the trading prize pool; 40% is allocated based on the value of user account assets, called the asset prize pool, and rewards are distributed in USDT.

Returning 30% of the fee income to users, how does this peer plan work?_aicoin_image1

Returning 30% of the fee income to users, how does this peer plan work?_aicoin_image2

Returning 30% of the fee income to users, how does this peer plan work?_aicoin_image3

There are three ways to participate based on different users:

The first option is for friends who originally planned to hold assets on Bitget but do not trade frequently; the asset prize pool route is the easiest. Just maintain your normal holdings, and as long as your account's effective assets are not less than 100 USDT daily, you can participate in sharing 40% of the asset prize pool and receive an additional USDT reward.

The second option is for those who usually engage in spot trading, contracts, or copy trading and have a normal trading volume each week, focusing on the trading prize pool. The trading prize pool accounts for 60% of the total prize pool, much higher than the asset prize pool. If you already have a trading plan, as long as your average daily trading volume reaches 100 USDT over 7 days, the qualifying trading volume will automatically count towards the prize pool, effectively giving you an extra USDT profit.

The third option, which also provides the best value in the entire event: holding assets long-term in your account while also trading normally. This type of user can benefit from both prize pools—maintaining effective assets of no less than 100 USDT daily to participate in the asset prize pool, and achieving a 7-day average daily trading volume of 100 USDT to add to the trading prize pool, with both earnings unaffected.

Let me clarify that this is not a fixed percentage of fee returns; it’s based on your proportion of trading volume and asset volume among qualifying users to share the entire prize pool. Furthermore, there’s a limit on both trading volume and assets for individual users, so large whales cannot monopolize the rewards, making it friendlier for retail investors. Rewards are settled weekly and distributed within two working days after the settlement. Additionally, users at levels V1 to V7 will automatically receive a 30-day secure upgrade experience card, which can be activated directly in the coupon center.

Everyone can assess their account situation accordingly. This activity is actually best suited for two types of people: one is users who are already holding positions on Bitget, and the other is friends who already have a fixed trading plan. For those already using Bitget, remember to check the activity page to confirm your data. If you can share the asset prize pool, don't waste your existing holdings; if you can leverage the trading prize pool, don't miss out on the volume you're already planning to trade. The sooner you understand the rules, the earlier you can start accumulating effective data; after all, it’s a 7-day cycle, and entering a day late means losing a day of data.

Lastly, while this incident had no actual danger, it reminds everyone that the security of exchanges is always the top priority. This time BG could cover the losses with the protection fund and also offer fee returns, which is commendable, but everyone should also ensure asset diversification and not put all eggs in one basket.

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