Bitget Launches $10M Ecosystem Fund to Boost Onchain Layer Expansion

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Bitget Launches $10M Ecosystem Fund to Boost Onchain Layer Expansion

Crypto exchange Bitget has launched a $10 million BWB Ecosystem Fund as part of efforts to launch its Bitget Onchain Layer. The move is in line with the firm’s keen interest in toeing the same path as industry bigwigs such as Binance, OKX, and KuCoin. That is to introduce a thriving on-chain ecosystem within its platform that will host native decentralized applications (DApps) integrated into the Bitget Wallet. It is towards achieving this aim and bringing it to quick fulfillment, that Bitget has announced the establishment of the $10 million BWB Ecosystem Fund.

While the fund will focus majorly on the onchain ecosystem ambitions, it will also support other projects that ultimately align with its plans, per the exchange.

Similar to Binance’s BNB token and Trust Wallet’s TWT token, Bitget has its own native tokens, BWB and BGB. BWB is the native token of Bitget Wallet, while BGB can be used to offset trading fees, in the same manner as Binance’s BNB token, KuCoin’s KCS token, and OKX’s OKB token.

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Bitget Launches $10M Ecosystem Fund to Boost Onchain Layer Expansion