Binance announced that it would host Bubblemaps’ (BMT) Token Generation Event (TGE) on PancakeSwap.
BMT, the native token of Bubblemaps, serves as a governance and utility token, unlocking advanced analytical features within the platform.
Binance Hosts Bubblemaps TGE
According to the announcement, users could participate via Binance Wallet on the BNB Smart Chain starting March 11, 2025, at 8:00 am UTC. The event came with a subscription cap of 3 BNB (approximately $1,645) per user, ensuring fair access to participants.
Further, they expected the TGE to raise $800,000 (denominated in BNB), with up to 40 million BMT tokens issued. This accounts for 4% of the total supply.
The exchange articulated that participation in the token generation event was specific for users whose Binance App was updated to version 2.97.0 or above. It also required users to hold BNB on the BNB Smart Chain in a keyless Binance Wallet.
Those without BNB could swap within the Binance Wallet Trade tab or deposit directly from their Binance Spot account. In the immediate aftermath of this announcement, BMT price recorded a modest surge, reflecting user optimism.
BMT Price Performance. Source: TradingView
To some, however, Binance exchange’s involvement in the Bubblemaps TGE could set the stage for a possible listing on the platform.
“Binance Wallet to launch Bubblemaps (BMT) TGE on PancakeSwap, is BMT heading to list on Binance?” one user posed.
The speculation comes as MyShell (SHELL) also conducted its TGE on Binance Wallet before its listing on Binance.
However, Binance recently committed to allowing community votes on token listings and delistings. The decision, intended to boost community involvement in the process, came as the exchange aims for greater transparency amid past listing controversies. However, it will still retain discretion.
Meanwhile, it is imperative to note that trading for BMT will commence immediately after the subscription period. However, Binance has warned that any BMT tokens circulating before this official launch time are fraudulent.
“Trading begins immediately post-TGE, but fraudulent tokens may circulate before. Verify the BMT contract before trading,” Binance articulated.
Data on Cryptorank.io shows that this TGE follows Bubblemaps’ recent $3.2 million funding round, led by INCE Capital. The funding aims to support the expansion of Bubblemaps’ analytical capabilities and the development of its investigation platform.
Bubblemaps Funding. Source: Cryptorank.io
Bubblemaps initially announced the BMT token launch in January as Bubblemaps prepared to integrate its advanced tracking tools with Solana and other blockchains.
