Bitget invests $10 million in developing its own on-chain layer
Key Takeaways
- Bitget has launched a $10 million ecosystem fund to develop its own on-chain layer and integrate dApps into its wallet.
- Bitget Onchain Layer aims to enhance trading capabilities through features such as price aggregators, on-chain derivatives, and trading bots.
- The launch of BWB, Bitget’s native token, features governance voting, Launchpad event eligibility, staking rewards, and multichain gas fee payments.
Bitget cryptocurrency exchange has been launched. A $10 million ecosystem fund aimed at developing its own on-chain layer.
this initiative Bitget is one of the other major cryptocurrency exchanges. The likes of Binance, Coinbase, and OKX have successfully integrated native ecosystems into their operations.
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The new initiative, known as Bitget Onchain Layer, We plan to integrate various decentralized applications (dApps) directly into Bitget Wallet.
Development of this on-chain layer is ongoing. Driven in partnership with developers and supported by the newly established $10 million BWB Ecosystem Fund. The fund aims to accelerate the development of on-chain layers and support projects that align with Bitget’s goals.
Bitget on-chain layer is Strengthen users’ trading capabilities, Initially, the focus was on investments and incubating Web3 trading services. Planned features include: Pre-market price collector, on-chain derivatives market, trading bot, All are designed to complement Bitget Wallet’s cross-chain swap services.
additionally, BWB, Bitget’s basic token, is expected to be released This quarter. During the pre-generation event, approximately 5% of the maximum supply of 1 billion BWB will be allocated to community members.
After launch, BWB will be used for a variety of functions within the Bitget Wallet and Onchain Layer ecosystem, including: Includes governance voting, Launchpad event eligibility, staking rewards, multichain gas fee payments, and more.
This initiative not only fosters innovation within the Bitget platform, but also strengthens its position in the highly competitive cryptocurrency exchange market.
In other news, OKX recently partnered with BitGenie to integrate layer 2 solutions like bridged Runes and Ordinals into the OKX wallet.
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