Global, May 17, 2024: Bitget Wallet has announced the launch of the blueprint of its upcoming product, the Bitget Onchain Layer, which promises to revolutionise the Web3 experience for its users. The new initiative is supported by a dedicated $10 million BWB Ecosystem Fund. Initially, the ecosystem fund will 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.
Bitget Onchain Layer will be powered by native Modular Feature-DApps (MFDs). These are specialised applications that streamline user interactions, improve liquidity aggregation, and strengthen security. Bitget Onchain Layer will integrate native DApps through collaboration with builders. It will also try to position Bitget Wallet, a leading non-custodial wallet, as the future of the Bitget ecosystem and a primary on-chain extension.
Bitget Wallet, launched in 2018, has transformed into a full-stack DeFi ecosystem, offering a multi-chain wallet, Swap, Launchpad, inscriptions tool, intelligent market data, and an earning center. Bitget Wallet has over 20 million users globally. Last month, it registered a record number of Swap trades and surpassed MetaMask in trading and order volumes.
Bitget identifies several enduring and unresolved challenges in Web3 that result in poor user experience. These include navigating multiple blockchain networks, choosing the right DEXs and liquidity pools, and more. Bitget swap, a native swap aggregator that offers seamless on-chain trading and earning experience, was introduced as a solution to these problems. It also opened up possibilities to introduce more value-added features such as gas-free transactions and multiple trading modes. These features enhanced the trading experience for users and became the first step to developing a native on-chain ecosystem layer.
Alvin Kan, Chief Operating Officer of Bitget Wallet, said “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”.
Bitget Wallet also prioritizes the meme ecosystem as a new focus area of its product roadmap. After its experimental meme token $MOEW, Bitget Wallet plans to enhance integrations and community engagements in the meme coin space. It would include Meme Grants and promoting meme culture through events.
You can find a dedicated meme token leaderboard with the Bitget Wallet interface. It provides up-to-date information on trending meme coins and meme coin price movements, ensuring our users have a competitive edge in the meme coin market. Bitget Onchain Layer is anchored by BWB, the native token of Bitget Wallet. BWB plays multiple roles within the ecosystem, including payment of multichain gas fees, and governance voting, among other utilities. Bitget Wallet has also announced allocation plans for the BWA token. With the total supply of BWB tokens set at 1 billion, nearly 47% will be allocated to the community treasury, 10% to investors, and 5% to pre-token generation event (TGE) airdrop.
