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Bitget Wallet Launches BWB Token With Total Supply of 1 Billion

In late 2023, Bitget Exchange acquired BitKeep, the Web3 wallet, and transformed it into Bitget Wallet. Over half a year later, Bitget Wallet has launched its official ecosystem token, BWB.

The Bitget Wallet token launch will coincide with its BWB Points airdrop event. It marks a significant milestone in the platform’s commitment to enhancing user engagement and fostering a vibrant community ecosystem.

Introduction of the BWB Token and Its Airdrop Initiative

According to the announcement, the total supply of BWB tokens is set at one billion, with an allocation of five per cent dedicated to community airdrops. These airdrops will be distributed as BWB points. In turn, this will offer users the future opportunity to exchange points for actual BWB tokens. This move aims to energise the community and boost participation.

To engage its diverse user base, Bitget Wallet has rolled out a six-week airdrop campaign from 18 March to 28 April. This initiative is divided into two main parts: the ‘Initial Airdrop’, rewarding loyal users, and the ‘Task Airdrop’, designed for users who complete certain activities. This streamlined approach aims to enhance participation across the board.

Alvin Kan, COO, Bitget Wallet
Alvin Kan, COO, Bitget Wallet

Speaking about BWB’s future, Bitget Wallet’s COO, Alvin Kan shared: “We are eagerly anticipating the official release of BWB tokens in the second quarter of 2024, which will empower users to convert their accrued BWB points into tokens. It’s important to us that BWB serves as a key to unlocking exclusive benefits for its holders, offering them a voice in community governance, access to ecosystem airdrops, and a dividend in the rewards driven by the growth of Bitget Wallet.”

Initial Airdop

For the ‘Initial Airdrop’, Bitget Wallet looked back and rewarded existing users based on their previous use of the wallet, such as how many assets they held, their swap transactions, and their participation in various activities. It also gave bonus airdrops to users who had used the Swap feature in other well-known Web3 wallets such as MetaMask, Trust Wallet, and Coinbase Wallet. Additionally, new users who download the Bitget Wallet App during the campaign will receive an airdrop of 50 BWB points.

Task Airdrop

On the ‘Task Airdrop’, all Bitget Wallet users have the opportunity to earn BWB points by completing specific tasks. These include keeping assets in the wallet, conducting swap transactions, and inviting friends. Each task offers a different number of points, allowing users to gather points every day.

Asia’s leading Web3 wallet and a global top-five contender

With over five years under its belt, Bitget Wallet has navigated through several market cycles, capitalising on the rise of DeFi and the mainstreaming of Web3. This strategic navigation has spurred rapid growth in its user base, now exceeding 19 million globally, positioning Bitget Wallet as the largest Web3 wallet in Asia and one of the top five globally.

The wallet’s journey of innovation and growth was further propelled by a $15million Series A financing round led by Dragonfly. This milestone was followed by a significant acquisition in 2023 by Bitget at a valuation of $300million. This acquisition not only came with a $30 million investment but also marked a pivotal brand upgrade for Bitget Wallet.

The upcoming BWB token will thus serve not only as Bitget Wallet’s core asset but also as a fundamental asset and Web3 equity certificate across the Bitget decentralised ecosystem, bridging practical use cases within Bitget Wallet and broader ecosystem engagement.

As the industry shifts towards decentralised asset management and trading, the narrative is also evolving towards a focus on community-driven stories, with Web3 wallets emerging as leaders in this space. Over the years, Bitget Wallet has refined the standards for Web3 wallet products, being the first to offer a full-chain perspective, aggregate DEX prices across all-chains, facilitate seamless cross-chain transactions, and launch an NFT marketplace and Launchpad platform.

Bitget Wallet has evolved beyond a multifunctional Web3 wallet to become a comprehensive platform encompassing a DEX aggregator, NFT marketplace, market analytics tool, Launchpad platform, inscription portal, and a Web3 task platform. This breadth of features and exemplary user experience are the pillars of Bitget Wallet’s competitive edge.

Empowering users with new assets and opportunities

Another cornerstone of Bitget Wallet’s success is its ability to unveil the latest assets and investment opportunities, enabling users to maximise their earnings through innovative product features and strategic operations.

Focusing on new assets and earning opportunities, Bitget Wallet has consistently centered its development around these themes, embedding them into nearly every key feature to ensure users have access to fresh opportunities and enhanced wealth potential.

Bitget Wallet’s unmatched support spans more than 100 major blockchains and numerous EVM-compatible networks, facilitating a seamless Web3 experience. Users can effortlessly manage assets, trade tokens, engage with NFTs, and explore DApps.

Expanding Biget’s offerings

At the heart of the wallet, Bitget Swap stands out by supporting multi-chain transactions across more than 40 networks, aggregating data from hundreds of DEXs and cross-chain bridges, and offering an extensive selection of tokens paired with innovative features like gas-free transactions and automatic slippage adjustments. Additionally, its intelligent market analysis tools provide users with real-time insights, helping them make informed trading decisions.

To further enhance user earnings, Bitget Wallet has introduced a comprehensive portal featuring Task2Get, Fair Launchpool, and Invite2Get, among others, providing users with a rich array of rewarding tasks and airdrop activities.

Security is paramount for Bitget Wallet, which has established the GetShield security system to safeguard every transaction and interaction. This system addresses a range of security challenges, including on-chain phishing and fraud, through comprehensive measures such as risk token detection, contract analysis, and more. Additionally, Bitget Wallet benefits from a shared $300million risk protection fund with Bitget, bolstering its risk mitigation capabilities.

Looking ahead, Kan elaborated: “The launch of BWB marks a new beginning for us. As we enter this new phase, we’re excited to introduce more innovative products and expand our ecosystem. Additionally, our goal with BWB is to bring a billion users into Web3, uncovering new assets and opportunities, and accelerating our journey towards a more community-driven governance model. We want our users to be an integral part of our growth and to share in the successes of Bitget Wallet’s development.”

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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