Bitget Wallet reveals Bitget Onchain Layer

Wednesday 15 May 2024 14:02 CET | News

Non-custodial wallet and decentralised ecosystem platform Bitget Wallet has announced the launch of the Bitget Onchain Layer product blueprint.


This initiative involves integrating native dApps within Bitget Wallet through collaboration with builders and establishing the wallet as a key on-chain extension of the Bitget ecosystem. Additionally, a USD 10 million BWB Ecosystem Fund has been set up to support the development of the Bitget Onchain Layer and related projects. 

The Bitget Onchain Layer will feature Modular Feature-DApps (MFDs), specialised applications designed to improve user interactions, liquidity aggregation, and security measures. Initial investments from the ecosystem fund will focus on Web3 trading services, including Pre-Market, On-chain Derivatives mMarket, and Trading Bot, which will complement Bitget Wallet's existing Swap trading service. Since its inception as a multi-chain wallet in 2018, Bitget Wallet has expanded into a DeFi ecosystem and platform.


Non-custodial wallet and decentralised ecosystem platform Bitget Wallet has announced the launch of the Bitget Onchain Layer product blueprint.


Bitget Swap and the Onchain Layer 

According to Bitget, despite recent achievements such as record-high Swap data, challenges persist in the Web3 space, including navigating multiple blockchain networks and selecting appropriate DEXs and liquidity pools. To address these challenges, Bitget Wallet introduced Bitget Swap as a native swap aggregator, offering gas-free transactions and multiple trading modes. The Bitget Onchain Layer acts as an intermediate layer, simplifying user interactions with Web3 through MFDs integrated into Bitget Wallet. 

The Bitget Onchain Layer aims to provide native accessibility to new narratives, assets, and opportunities across Web3 while supporting an open and collaborative ecosystem strategy. Additionally, Bitget Wallet has prioritised the Meme ecosystem, launching the experimental Meme token $MOEW and exploring further integrations and community engagements. 

Bitget Wallet and the Bitget Onchain Layer are underpinned by the BWB token, which serves various roles within the ecosystem, including governance voting, participation in Launchpad events, staking rewards, and gas fee payments. The allocation plans for the BWB token include distribution to the community treasury, investors, and pre-TGE airdrop recipients.

Looking ahead, Bitget Wallet aims to refine its platform by integrating high-frequency features to enhance user experience and interaction within the Web3 ecosystem. The focus remains on product growth and strategic infrastructure development. In March 2024, Bitget Wallet launched the BWB ecosystem token along with a BWB Points airdrop event. 

This move came in the context of the company's efforts to enhance user engagement and cultivate a thriving community ecosystem. The BWB token has a total supply of 1 billion, with 5% allocated for community airdrops. The airdrops were distributed as BWB points, which users could potentially exchange for BWB tokens in the future.

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Keywords: cryptocurrency, web3, product launch, digital wallet
Categories: DeFi & Crypto & Web3
Companies: Bitget
Countries: Singapore
This article is part of category

DeFi & Crypto & Web3


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