Bitget Launchpad, being a top token launch platform, disclosed its plans to release the BWB token on its Launchpad. The sale of this token will occur from June 1st to June 6th and it will be available for trading on the Bitget spot market at 8:00 PM (GMT+8) on June 6th, 2024.

BWB, the native token of Bitget Wallet, serves not only as its official currency but also has a significant role in the Bitget Onchain Layer. The Bitget Onchain Layer is supported by a $10 million BWB Ecosystem Fund, which aims to support and expand projects that are partnered with and built on the Bitget Onchain Layer. The Bitget Onchain Layer's progress relies on the smooth integration of on-chain and off-chain resources, utilizing Modular-feature DApps (MFDs) to enable easy access to a variety of Web3 financial services within the Bitget Wallet application.

The BWB token has a wide range of uses within the Bitget ecosystem, giving users various benefits. It allows for community governance, enabling token holders to participate in decision-making processes. Additionally, users can stake BWB tokens to receive rewards, increasing their overall yield. The token will also play a crucial role in paying gas fees across multiple chains when the Account Abstraction (AA) wallet is released in the future. BWB holders will have access to Bitget Wallet's Launchpad, Launchpool, and Airdrop events. By holding BWB, users will also be eligible for airdrops from projects that are building on the Bitget Onchain Layer, providing continuous value and advantages for BWB holders.

Throughout the duration of the BWB launch on Bitget Launchpad, individuals have the option to contribute BGB, Bitget's own token, in order to take part in the sale. The specific BGB exchange rate will be revealed once the calculation period for holdings has concluded. Once the commitment period is over, BWB tokens will be distributed to each user according to the amount of BGB they have committed.

According to COO of Bitget Wallet, Alvin Kan, evaluating the worth of Bitget Wallet and its BWB token goes beyond just being a Web3 wallet. Kan explained that the decentralized future of Bitget group is dependent on the Bitget Onchain Layer, a community-driven ecosystem that acts as a mediator for user engagement in Web3. The BWB token will not only function as the official token of Bitget Wallet but also as the core of the Bitget Onchain Layer.

Bitget Wallet (formerly known as BitKeep) received an extra $30 million investment from Bitget in March 2023, resulting in a majority ownership and prompting a complete rebranding. The updated roadmap for 2024 has now been revealed by Bitget Wallet, outlining plans for the creation of the Bitget Onchain Layer. This project is expected to strengthen the platform's position as a decentralized extension and the central foundation of the entire Bitget ecosystem.

"As our ecosystem continues to develop, the BWB token will play increasingly significant roles in empowerment and application within the Bitget Onchain Layer, thus broadening its value discovery and recognition as ecosystem construction progresses." - Alvin Kan, Bitget Wallet COO