Bitget Creates Its Own Blockchain Ecosystem
Bitget, a crypto exchange, is set to create its own blockchain ecosystem, following the footsteps of Binance, OKX, and KuCoin. The Bitget Onchain Layer will integrate native DApps into the Bitget Wallet, accelerating its development.
The exchange also has a native token, BWB, similar to Trust Wallet token (TWT), which can offset transaction fees. The Bitget OnChain Layer Ecosystem Fund will invest in Web3 trading services and provide staking services.
Bitget Wallet, a popular personal custody wallet in the Asia-Pacific region, has over 20 million users. The local token, BWB, is set to be launched this quarter, with 5% of its maximum supply allocated to community members during the pre-launch event.
The token aims to strengthen the Bitget Wallet and OnChain Layer ecosystem through governance voting, participation rights in launchpad events, staking rewards, and payment of multi-chain transaction fees.
(With inputs from Shikha Singh)
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