Bitget Exchange has announced the launch of the BWB token for Bitget Wallet on its Launchpad. The trading of BWB tokens will take place from June 1st to June 6th, and it will be listed on the Bitget spot market on June 6th, 2024, at 20:00 (GMT+8).
As a leading token issuance platform, Bitget Launchpad allows users to participate in fundraising activities for promising new projects and receive corresponding token rewards. Bitget Wallet is not just a wallet, but also a comprehensive decentralized ecosystem and gateway for users to enter Web3. According to its 2024 roadmap, Bitget Wallet has introduced the Bitget Onchain Layer, positioning it as the chain extension and decentralized future of the Bitget ecosystem.
In addition to being the official native token of Bitget Wallet, BWB plays an important role in the Bitget Onchain Layer. The Bitget Onchain Layer is driven by a $10 million BWB ecosystem fund, which aims to incubate and grow collaborative projects built on the Bitget Onchain Layer. Seamlessly integrating on-chain and off-chain resources is a key element of the development of the Bitget Onchain Layer, enabling users to easily access various Web3 financial services through modular decentralized applications (MFDs) using Bitget Wallet.
BWB tokens have a wide range of applications within the Bitget ecosystem, empowering users through various functions. It enables community governance, allowing token holders to participate in decision-making processes. Users can also stake BWB tokens to earn rewards, further increasing their total earnings. With the introduction of the Future Account Abstraction (AA) wallet in the future, the token will also be used to pay for gas fees on multiple chains. BWB holders can participate in Bitget Wallet’s Launchpad, Launchpool, and airdrop activities. Holding BWB also qualifies users for airdrops of projects built on the Bitget Onchain Layer, providing continuous value and benefits to token holders.
During the BWB issuance on Bitget Launchpad, users can submit the native token BGB to participate. The exchange rate of BGB will be announced after the holding period ends. After the event, BWB tokens will be allocated based on the BGB submitted by each user.
Alvin Kan, the COO of Bitget Wallet, stated that evaluating the value of Bitget Wallet and BWB tokens requires multiple perspectives. The decentralized future of the Bitget Group lies in the Bitget Onchain Layer, an open and collaborative ecosystem that serves as an intermediary layer for user interaction in Web3. Within this framework, BWB tokens will not only serve as the official ecological token of Bitget Wallet but also become the core of the Bitget Onchain Layer.
Alvin Kan further added that as the ecosystem continues to develop, BWB tokens will have increasingly important applications and empowerments in the Bitget Onchain Layer, expanding their value and recognition along with the progress of ecosystem construction.
In March 2023, Bitget invested an additional $30 million in Bitget Wallet (formerly known as BitKeep), acquiring a controlling stake and promoting a comprehensive brand upgrade. Recently, Bitget Wallet announced its detailed roadmap for 2024, including the development of the Bitget Onchain Layer, aiming to enhance its role as a decentralized extension and the core of the entire Bitget ecosystem.
About Bitget
Founded in 2018, Bitget is a world-leading cryptocurrency exchange and Web3 company, serving over 25 million users in more than 100 countries worldwide. It is committed to helping users trade more intelligently through its innovative copy trading feature and other trading solutions.
Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that provides a range of comprehensive Web3 solutions and features, including wallet functions, exchanges, NFT markets, DApp browsers, and more. Bitget encourages the adoption of cryptocurrencies through partnerships with Argentine football legend Lionel Messi and official esports event organization PGL.
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