TL;DR
- The 0G Foundation has publicly accused Bitget of using its tokens in a Launchpool and airdrop campaign without approval, directly violating a signed agreement.
- Legal action is underway through Fenwick & West, demanding cessation of unauthorized activities and token repurchase.
- Bitget claims the incident was a misunderstanding, asserting the marketing plan was shared in advance and interpreted as a staking campaign, highlighting ongoing tension between transparency and execution in Web3 partnerships.
The 0G Foundation is raising alarms over what it describes as unauthorized use of its tokens by Bitget, sparking a heated dispute in the crypto space. The conflict centers on a Launchpool and airdrop campaign that Bitget allegedly ran in violation of a previously agreed 90-day staking contract.
Foundation Reiterates Commitment To Long-Term Partnerships
0G praised the support of 23 exchanges that backed its launch on Day One, emphasizing its dedication to building sustainable and mutually beneficial collaborations. However, the foundation stresses that Bitget’s actions undermine trust and accountability, cornerstones for Web3’s maturation into a credible financial ecosystem. According to 0G, multiple private attempts to resolve the issue failed, prompting the foundation to escalate the matter publicly.
Alleged Breach Contradicts Contractual Terms
The controversy began when Bitget shared a marketing plan including airdrops, just days before the token launch. 0G maintains the plan directly contradicted the finalized agreement, which specified that tokens should be allocated exclusively for a structured 90-day staking campaign with predefined APY rates. Despite 0G’s objections and clarification of the original terms, Bitget proceeded to run a Launchpool and airdrop, reducing the intended campaign from 90 days to just three.
Fenwick & West, 0G’s legal counsel, has sent a formal demand letter requiring Bitget to stop the unapproved activities and repurchase all tokens diverted from the original staking program. The foundation also called on other ecosystem partners to pause engagements with Bitget until the situation is resolved, highlighting the potential risks of broken agreements in Web3.
Bitget Claims Misunderstanding And Reports Community Success
Bitget responded, stating that the situation arose from a miscommunication over terminology, interpreting the Launchpool as a variant of staking. The exchange pointed to the campaign’s success, reporting over 30,000 participants and APRs ranging from 215% to 1953%, suggesting the initiative benefited users and increased engagement with 0G’s project.
0G, however, counters that the contractual terms were explicit and mutually agreed upon, reinforcing that agreements in the blockchain ecosystem must be respected to ensure integrity. The foundation’s insistence on transparency and accountability underscores the broader challenges facing Web3 as it scales and seeks mainstream adoption.
The ongoing dispute between 0G and Bitget serves as a reminder that clarity, trust, and adherence to agreements remain critical for building a resilient crypto ecosystem.
