Bitget Wallet Launches Bitget Onchain Layer and $10M $BWB Ecosystem Fund

Bitget Wallet has announced the launch of its latest product, the Bitget Onchain Layer, according to a press release shared with BSCN. The purpose of this innovation is to revolutionize the Web3 user experience. 

As per reports, Bitget Wallet will become the primary on-chain extension of Bitget's ecosystem when the Bitget Onchain Layer integrates native DApps within it.

The Bitget Onchain Layer is powered by native Modular Feature-DApps, which streamline user interactions, enhance liquidity aggregation, and fortify security measures. These MFDs function as standalone DApps and are also integrated directly into Bitget Wallet. 

In addition to trading, the Bitget Onchain Layer aims to provide accessibility to new narratives, assets, and opportunities across Web3. The wallet has prioritized the Meme ecosystem as a central focus of its product roadmap. 

$10 Million BWB Ecosystem Fund

Alongside the Bitget Onchain Layer, Bitget Wallet has established a $10 million BWB Ecosystem Fund. This fund is dedicated to accelerating the development of the Bitget Onchain Layer and supporting aligned projects and initiatives. 

The fund will initially focus on the investment and incubation of various Web3 trading services. Three services are reportedly in the pipeline: Pre-Market, On-chain Derivatives Market, and Trading Bot. These Modular Feature-DApps (MFDs) will complement Bitget Wallet's existing Swap trading service.

Role of the BWB Token

The BWB token anchors the Bitget Wallet and the Bitget Onchain Layer. The BWB token has multiple roles within the ecosystem, including governance voting, eligibility for participation in Launchpad events, staking rewards, and payment of multichain gas fees.

The total supply of BWB tokens is set at 1 billion, distributed across community rewards, team, and partnership initiatives. Nearly 47% of this total supply will be allocated to the community treasury, 10% to investors, and 5% reserved for the pre-token generation event (TGE) airdrop.

Recent Developments

Last March Bitget wallet attracted over 20 million users globally and achieved a record high in Swaps, surpassing MetaMask in trading and order volumes.

Notably, last December, Bitget Wallet joined forces with Linea, an Ethereum Layer 2 network, allowing users to connect to the Linea mainnet via their mobile app and browser extension to manage assets within the Linea ecosystem.

Following the launch of Bitget Wallet's experimental Meme token, $MOEW, the platform plans to explore further integrations and community engagements within this space, including Meme Grants and events to promote Meme culture and Web3 engagement.