Token

2024

Bitget Wallet has announced the creation of a $10 million ecosystem fund designed to accelerate the development of its Onchain Layer. This initiative reflects Bitget’s strategic effort to expand its on-chain ecosystem, akin to moves previously made by other exchanges like Binance, OKX, and KuCoin.&nbsp; 
The fund will focus on fostering the growth of native decentralized applications (DApps) integrated within the Bitget Wallet and support projects aligned with the Onchain Layer’s goals. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🧫 In just six years, <a href="https://twitter.com/hashtag/BitgetWallet?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BitgetWallet</a> has evolved from a simple wallet to a comprehensive <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Web3</a> ecosystem platform. With the upcoming launch of <a href="https://twitter.com/search?q=%24BWB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BWB</a>, we're excited to share our future plans and how we're redefining the Web3 wallet experience: 1️⃣ Expansion to Bitget Onchain Layer:… <a href="https://t.co/mFMDKkKib2" target="_blank">pic.twitter.com/mFMDKkKib2</a>— Bitget Wallet 🩵 (@BitgetWallet) <a href="https://twitter.com/BitgetWallet/status/1790684195435774001?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 15, 2024</a>
 </blockquote> 
 </div>
</figure> 
BWB Token Rollout and Ecosystem Integration 
Scheduled for release this quarter, Bitget Wallet’s native token, BWB, will play a crucial role in the ecosystem. Modeled similarly to Trust Wallet’s TWT token, BWB aims to empower users by offering functionalities like governance voting, participation in Launchpad events, staking rewards, and covering multichain gas fees.&nbsp; 
Initially, 5% of the 1 billion maximum supply of BWB will be allocated to community members through a pre-generation event. 
The introduction of the Bitget Onchain Layer is part of the wallet’s broader strategy to integrate trading services and interchain swap capabilities. This includes investments in pre-market price aggregators, an on-chain derivatives market, and trading bots.&nbsp; 
Bitget Wallet, known for its popularity in the Asia-Pacific region with over 20 million users, is positioning itself as a versatile player in the evolving crypto ecosystem, mirroring successful models like Binance’s BNB blockchain and OKX’s Web3 Marketplace. This expansion is anticipated to enhance Bitget’s offerings and user engagement across its platforms. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read:&nbsp; <a href="https://www.cryptotimes.io/2024/05/10/bitget-announces-pre-market-trading-launch-of-notcoin/" target="_blank" rel="noreferrer noopener">Bitget Announces Pre-Market Trading Launch of NOTCOIN</a> 
</blockquote>

Bitget Wallet Unveils $10M Fund for Onchain Layer Development

The Crypto Times

Other articles published on May 15, 2024

El Salvador mines 474 Bitcoin using geothermal volcanic energy

UK Crypto Advice Firm Shut Down After £5M Losses In Investors’ Money

Can Kaspa (KAS) Realistically Reach a $100 Billion Market Capitalization Valuation?

In April, we ranked the nine best IDO Launchpad platforms.

Boothbay Invests Heavily in Bitcoin ETFs

Crypto expert gives analysis of major altcoins, market sees slight uptick

Join our free newsletter for daily crypto updates!