Bitget Wallet Token (BWB) makes debut on the Bitget Launchpad

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the launch of Bitget Wallet’s BWB token on its Launchpad. The sale of the BWB token will take place between 1st June and 6th June, and it will be listed in the Bitget spot market at 20:00 (GMT+8) on 6th June, 2024.

As a leading token launch platform, Bitget Launchpad enables users to participate in fundraising for promising and emerging projects, offering tokens in return.

More than just a wallet, Bitget Wallet emerges as a full-stack decentralized ecosystem and gateway for users into Web3. According to its 2024 roadmap, Bitget Wallet has unveiled the launch of the Bitget Onchain Layer, an visionary blueprint for its future endeavours into Web3 that positions itself as both the on-chain extension and decentralized future of the Bitget ecosystem.

On top of serving as the official native token of Bitget Wallet, BWB also plays a crucial role in the Bitget Onchain Layer. Powering the Bitget Onchain Layer is a $10 million BWB Ecosystem Fund that seeks to incubate and grow partnered projects building on the Bitget Onchain Layer. The seamless integration of on-chain and off-chain resources is a pivotal element in the development of the Bitget Onchain Layer, leveraging Modular-feature DApps (MFDs) to facilitate native access to various Web3 financial services from the convenience of the Bitget Wallet application.

The BWB token offers extensive utility within the Bitget ecosystem, empowering users through a variety of features. It enables community governance, allowing token holders to participate in decision-making processes. Users can also stake BWB tokens to earn rewards, further enhancing their overall yield. The token will also be integral for paying gas fees across multiple chains with the future release of the Account Abstraction (AA) wallet. BWB holders gain access to Bitget Wallet’s Launchpad, Launchpool and Airdrop events. Holding BWB will also qualify users for airdrops from projects building on the Bitget Onchain Layer, providing continuous value and benefits for holders of the token.

During the commitment period of BWB being launched on Bitget Launchpad, users may commit Bitget’s native token BGB to participate in the sale. The BGB swap price will be announced after the holding calculation period ends. Upon closing the commitment window, BWB tokens will be allocated to each user based on their committed BGB.

“Assessing the value of Bitget Wallet and the BWB token requires a broader perspective than that of a mere Web3 wallet,” Alvin Kan, COO of Bitget Wallet stated. “The decentralized future of the Bitget group lies within the Bitget Onchain Layer, an open and collaboratively built ecosystem that acts as an intermediary layer for user interaction within Web3. Within this framework, the BWB token will serve not only as the official ecosystem token of Bitget Wallet but also the heart of the Bitget Onchain Layer.”

“As our ecosystem continues to develop, the BWB token will play increasingly significant roles in empowerment and application within the Bitget Onchain Layer, thus broadening its value discovery and recognition as ecosystem construction progresses,” he added.

In March 2023, Bitget invested an additional $30 million into Bitget Wallet (previously known as BitKeep), thereby securing a controlling stake and catalyzing a comprehensive brand upgrade. Recently, Bitget Wallet has unveiled its detailed roadmap for 2024, which includes the development of the Bitget Onchain Layer. This initiative is poised to enhance the platform’s role as a decentralized extension and the future core of the entire Bitget ecosystem.