Bitget, a leading cryptocurrency exchange and Web3 company, has announced the launch of the Bitget Wallet token (BWB) on its Launchpad. This milestone marks a significant step forward in the development of the Bitget ecosystem, offering users a new way to engage with Web3 technologies. The BWB token sale will take place between June 1st and 6th, with listing in the Bitget spot market scheduled for June 6th, 2024.

As a native token of Bitget Wallet, BWB plays a crucial role in the Bitget Onchain Layer, a visionary blueprint for the company's future endeavors in Web3. This innovative layer positions itself as both the on-chain extension and decentralized future of the Bitget ecosystem. The BWB token offers extensive utility within the Bitget ecosystem, empowering users through various features such as community governance, staking, and gas fee payments.

The Bitget Onchain Layer is powered by a $10 million BWB Ecosystem Fund, designed to incubate and grow partnered projects building on the layer. The seamless integration of on-chain and off-chain resources is a pivotal element in the development of the Bitget Onchain Layer, leveraging Modular-feature DApps (MFDs) to facilitate native access to various Web3 financial services from the convenience of the Bitget Wallet application.

Holders of the BWB token gain access to Bitget Wallet's Launchpad, Launchpool, and Airdrop events, as well as airdrops from projects building on the Bitget Onchain Layer, providing continuous value and benefits. During the commitment period, users can commit Bitget's native token BGB to participate in the sale, with the BGB swap price announced after the holding calculation period ends.

Alvin Kan, COO of Bitget Wallet, emphasized the significance of the BWB token, stating that it requires a broader perspective than a mere Web3 wallet. The decentralized future of the Bitget group lies within the Bitget Onchain Layer, an open and collaboratively built ecosystem that acts as an intermediary layer for user interaction within Web3.

As the ecosystem continues to develop, the BWB token will play increasingly significant roles in empowerment and application within the Bitget Onchain Layer, broadening its value discovery and recognition. Bitget invested an additional $30 million into Bitget Wallet in March 2023, securing a controlling stake and catalyzing a comprehensive brand upgrade.

Bitget Wallet has unveiled its detailed roadmap for 2024, which includes the development of the Bitget Onchain Layer. This initiative is poised to enhance the platform's role as a decentralized extension and the future core of the entire Bitget ecosystem. Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company, serving over 25 million users in 100+ countries and regions.