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Bitget Wallet Unveils Web3-Focused Bitget Onchain Layer with $10M BWB Ecosystem Fund

Bitget Wallet Launches Web3 Onchain Layer


Bitget Wallet Unveils Web3-Focused Bitget Onchain Layer with $10M BWB Ecosystem Fund

Bitget Wallet, a leader in the decentralized finance (DeFi) ecosystem, has announced the blueprint for its latest innovation, the Bitget Onchain Layer. This new initiative aims to transform the Web3 experience by providing seamless, secure, and efficient interactions for its users. Supported by a dedicated $10 million BWB Ecosystem Fund, the Bitget Onchain Layer will initially focus on enhancing Web3 trading services, including Pre-Market, on-chain derivatives market, and Trading Bot, which are already in the development pipeline. These Modular Feature-DApps (MFDs) will augment Bitget Wallet’s existing Swap trading service.

Revolutionizing Web3 with Modular Feature-DApps

The Bitget Onchain Layer will be driven by native Modular Feature-DApps (MFDs), specialized applications designed to streamline user interactions, enhance liquidity aggregation, and bolster security. By integrating these native DApps through collaboration with developers, Bitget Wallet aims to establish itself as the future of the Bitget ecosystem and a primary on-chain extension.

Since its launch in 2018, Bitget Wallet has evolved into a comprehensive DeFi ecosystem, offering a multi-chain wallet, Swap, Launchpad, inscriptions tool, intelligent market data, and an earning center. With over 20 million users globally, Bitget Wallet recently surpassed MetaMask in trading and order volumes, marking a significant milestone in its growth trajectory.

Addressing Web3 Challenges

Bitget has identified several persistent challenges within the Web3 space that contribute to a suboptimal user experience. Navigating multiple blockchain networks, selecting appropriate decentralized exchanges (DEXs) and liquidity pools, and managing complex transactions are just a few of these issues. The introduction of Bitget Swap, a native swap aggregator, addressed these challenges by offering a seamless on-chain trading and earning experience. It also opened the door for additional value-added features such as gas-free transactions and multiple trading modes, which significantly enhanced the user experience and laid the groundwork for developing the Bitget Onchain Layer.

Enhancing User Experience

Alvin Kan, Chief Operating Officer of Bitget Wallet, emphasized the importance of simplifying Web3 interactions for users. “Bitget Onchain Layer removes complexities for users to interact with the Web3 world. It’s achieved with the help of MFDs, which function as standalone DApps and Bitget Wallet’s native features. Bitget Wallet aims to work with developers to create effective and purposeful MFDs to meet users’ needs efficiently. Besides trading, Bitget Onchain Layer plans to provide native accessibility for new Web3 narratives, assets, and opportunities. To this end, it plans to introduce an open and collaborative ecosystem covering a spectrum of financial services,” said Kan.

Focusing on the Meme Ecosystem

As part of its evolving product roadmap, Bitget Wallet is also prioritizing the meme ecosystem. Following the success of its experimental meme token $MOEW, Bitget Wallet plans to deepen its integrations and community engagement in the meme coin space. This includes initiatives such as Meme Grants and promoting meme culture through various events.

A dedicated meme token leaderboard within the Bitget Wallet interface will provide users with up-to-date information on trending meme coins and price movements, ensuring they have a competitive edge in the meme coin market.

BWB Token and Community Involvement

The Bitget Onchain Layer is anchored by BWB, Bitget Wallet’s native token. BWB serves multiple roles within the ecosystem, including payment of multichain gas fees and governance voting, among other utilities. Bitget Wallet has outlined allocation plans for the BWB token, with a total supply set at 1 billion tokens. Nearly 47% of these will be allocated to the community treasury, 10% to investors, and 5% to pre-token generation event (TGE) airdrop.

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