Bitget Wallet Introduces Web3-Focused Bitget Onchain Layer With Dedicated $10M BWB Ecosystem Fund

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Bitget Wallet launches its Web3-focused Onchain Layer with a $10M BWB Ecosystem Fund, enhancing DeFi user experience and liquidity.

Global, May 17, 2024 – Bitget Wallet is excited to unveil the blueprint of its upcoming product, the Bitget Onchain Layer, set to revolutionize the Web3 experience for its users. This innovative initiative is backed by a dedicated $10 million BWB Ecosystem Fund.

The ecosystem fund will initially support various Web3 trading services, including three already in the pipeline: Pre-Market, on-chain derivatives market, and Trading Bot. These Modular Feature-DApps (MFDs) will complement Bitget Wallet's Swap trading service, enhancing user interaction and security while improving liquidity aggregation.

Bitget Onchain Layer will be powered by native MFDs, specialized applications designed to streamline user interactions. Through collaboration with builders, Bitget Onchain Layer aims to integrate native DApps, positioning Bitget Wallet—a leading non-custodial wallet—as the future of the Bitget ecosystem and a primary on-chain extension.

Since its launch in 2018, Bitget Wallet has evolved into a full-stack DeFi ecosystem, offering a multi-chain wallet, Swap, Launchpad, inscriptions tool, intelligent market data, and an earning center. Boasting over 20 million users globally, Bitget Wallet recently recorded a record number of Swap trades, surpassing MetaMask in trading and order volumes.

Bitget addresses key Web3 challenges like navigating multiple blockchain networks and choosing the right DEXs and liquidity pools, which can lead to a poor user experience. To solve these issues, Bitget introduced a swap aggregator for seamless on-chain trading and earning, featuring gas-free transactions and multiple trading modes, enhancing the user experience and supporting their on-chain ecosystem.

Alvin Kan, COO of Bitget Wallet, explained that the Bitget Onchain Layer simplifies user interaction with Web3 through MFDs and native features. Bitget aims to collaborate with developers to create efficient MFDs and plans to offer access to new Web3 narratives, assets, and opportunities, aiming to build an open and collaborative ecosystem.

Bitget Wallet is focusing on the meme ecosystem, inspired by the success of its meme token $MOEW. It plans to enhance integrations and community engagements in the meme coin space through initiatives like Meme Grants and events promoting meme culture.

The Bitget Wallet interface includes a meme token leaderboard with updates on trending meme coins and price movements. The ecosystem is supported by BWB, Bitget Wallet's native token, used for multichain gas fees and governance voting. Out of 1 billion BWB tokens, 47% will go to the community treasury, 10% to investors, and 5% to a pre-TGE airdrop.

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Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.