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.
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.
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.
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.
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.
Also Read: Bitget Announces Pre-Market Trading Launch of NOTCOIN
