BWB Tokenomics: What's So Interesting About Bitget's New Coin?

Bittime - Bitget Wallet branch only offers secure storage of digital assets. However, it also released its own ecosystem token, BWB. This article will discuss BWB tokenomics. What's interesting about this new coin? Keep reading until the end, OK!

The launch of BWB marks Bitget Wallet's move to enter a new phase as a decentralized blockchain-based platform. Let's take a deeper look at BWB and what makes it interesting!

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What's that Bitget Wallet?

Founded in 2018, Bitget Wallet has become one of the largest non-custodial crypto wallets in the world. This crypto wallet boasts more than 20 million users and supports more than 100 popular blockchains, 250,000 tokens, as well as various DApps (decentralized applications)

Users can do many things through this crypto wallet. Starting from storing digital assets, monitoring market data, swapping between tokens, participating in Launchpad for new crypto projects, to exploring the world of innovative DApps.

In April 2024, Bitget Wallet's biggest achievement occurred when its trading volume and Swap transactions surpassed MetaMask. This indicates rapid growth of the platform.

This dynamic is what drives Bitget Wallet to transform into Bitget On-Chain Layer, a decentralized blockchain ecosystem. This transformation is accompanied by the presence of BWB, the official token that will be the heart of the Bitget On-Chain Layer.

BWB Utility: More than just a Token

BWB is not just an ordinary token. It has various important functions in the Bitget Wallet ecosystem, including:

Decentralized Governance

BWB holders can participate in decision making regarding Bitget Wallet governance. Through proposals and voting, the BWB holder community will determine the direction of future development of the platform.

Exclusive Access

By staking BWB, users can gain early access to various exciting events on Bitget Wallet, such as Fair Launchpool and GetDrop airdrop. Apart from that, BWB also makes it easy to participate in the Bitget Wallet Launchpad and other special events on the Bitget platform.

Multi-Chain Gas Payments

In the future, when Bitget Wallet releases an Account Abstraction (AA) wallet, BWB will be the token used to pay cross-blockchain transaction gas fees.

Ecosystem Participation

BWB holders will gain special benefits when involved in projects and activities run by partners in the Bitget On-Chain Layer ecosystem.

They can participate in airdrops, special programs, and have the opportunity to get attractive rewards, both in the form of BWB and other tokens issued by the partner project.

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BWB Distribution: Transparent and Comprehensive

BWB's total supply is 1 billion tokens. BWB distribution is allocated transparently with the following details:

• Private Sales (10%) – Used to attract initial investors and will be locked for 12 months after the Token Generation Event (TGE) before being released gradually over the following 12 months.
• Public Offering (1.1%) – Allocated to users through a public offering. A small portion (0.1%) will be available on the Bitget Wallet Launchpad.
• Pre-TGE Airdrop (5%) – Used to reward early adopters who participated in the pre-TGE airdrop campaign.
• BKB Holders (3%) – Allocated to holders of BKB, the native token of the BitKeep platform which was previously a crypto wallet before transitioning to Bitget Wallet. With a ratio of 6 BKB:10 BWB, BKB holders are entitled to get BWB for free.
• Tim Bitget Wallet (10%) – Allocated to the Bitget Wallet development team as a form of appreciation and attracting the best talent. This portion will be locked for 12 months after TGE and then released gradually over 36 months.
• Ecosystem Development (18%) – Allocated for the development of the Bitget On-Chain Layer ecosystem and other initiatives. These funds will be used to support ecosystem growth, establish strategic collaborations, and encourage users to actively participate in building an increasingly stronger Bitget Wallet network.
• Staking (6%) – Allocated to a staking pool, where users can lock their BWB for get rewards in the form of BWB or other tokens.
• Community Funds (46.9%) – Allocated to community funds aimed at supporting the growth of platform users and providing incentives for the community. 6.9% of these funds will be disbursed during TGE for platform marketing and liquidity needs. The remaining funds will be released gradually.

BWB Release Schedule: Planned and Long Term

BWB distribution will be carried out in stages over five years, according to the planned timeline. This aims to ensure planned and responsible BWB distribution, as well as minimizing the impact on token prices.

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Conclusion

The launch of BWB marks a new chapter for Bitget Wallet. With diverse utility, transparent distribution, and a planned release schedule, BWB has great potential to become a successful and valuable ecosystem token.

The presence of BWB is also expected to attract more users into the Bitget On-Chain Layer ecosystem and drive overall platform growth.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.