Interpreting BWB (Bitget Wallet), the New Golden Spade Token with a Circulating Market Cap of Just $70 Million
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Interpreting BWB (Bitget Wallet), the New Golden Spade Token with a Circulating Market Cap of Just $70 Million
Hodlers enjoy abundant benefits: guaranteed compensation for failed white-listed token sales, 35% annual yield from staking mining, exclusive GetDrop rewards, and offsetting multi-chain Gas fees with AA wallets...
Navigating Web3 tides with focused insightsAuthor: Asher, Odaily Planet Daily
Today, MetalCore (MCG), Bitget Wallet's second Launchpad project, reached 200% of its hard cap within 30 minutes during the whitelist round, oversubscribed by 870%, and completed fundraising ahead of schedule. The public round then reached a 1000% oversubscription hard cap within 10 minutes, also completing early—clearly demonstrating the high level of interest in this Launchpad event.
Participation in the whitelist round required holding more than 2,000 BWB tokens. Notably, the "golden shovel" attribute of BWB has been significantly enhanced: according to official information, if the MCG token issued through this offering experiences a price drop within three days of listing, participants will receive a full refund. It is precisely for this reason that Odaily Planet Daily has turned its attention to the emerging golden shovel—Bitget Wallet (BWB).
Bitget Wallet: Redefining Web3 Wallets from Gateway to Platform
Project Overview
Image source:Official Twitter
Bitget Wallet is a decentralized multi-chain cryptocurrency wallet dedicated to providing global users with secure and convenient one-stop digital asset management services. Its solution centers on developing and refining its native transaction aggregator, Bitget Swap, which integrates hundreds of DEXs across nearly 50 public chains to offer users optimized and cost-effective trading routes. It also features gas-free transactions and an ultra-fast trading mode. For users, all that’s needed is to simply select tokens and execute trades with a click.
Wallets have traditionally been viewed as private key managers and gateways to Web3. However, with the growing vibrancy of on-chain ecosystems, it’s clear that being merely a gateway is no longer sufficient. In the team’s view, Web3 wallets need to be redefined—from entry points into full-fledged platforms. For Bitget Wallet, this means building the Bitget Onchain Layer.
Tokenomics
BWB is the official ecosystem token of Bitget Wallet and also serves as the system token of the Bitget Onchain Layer, playing multiple roles such as community governance, staking, participation in Bitget Wallet Launchpad and various airdrop events, eligibility for Bitget platform activities, access to airdrops for projects within the Bitget Onchain Layer ecosystem, and payment of multi-chain gas fees after the launch of AA wallets.
According to documentation released by Bitget Wallet, the native token BWB has a fixed maximum supply of 1 billion tokens, allocated as follows:
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Private Investors: 100,000,000 BWB (10.00% of total supply). These tokens are locked for 12 months starting at TGE and then linearly released over the next 12 months;
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Public Sale: 11,000,000 BWB (1.10% of total supply). 1.1% of BWB supply will be distributed via public sale, with 0.1% offered through Bitget Wallet’s own Launchpad platform;
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Pre-TGE Airdrop: 50,000,000 BWB (5.00% of total supply). 5% of BWB supply will be allocated to pre-TGE airdrop campaigns, where users who earned BWB Points can redeem them for BWB;
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BKB Holders: 30,000,000 BWB (3.00% of total supply). 3% of BWB supply will be distributed to holders of BKB, the platform points issued by BitKeep—the predecessor of Bitget Wallet. With a total supply of 600 million BKB and 1 billion BWB, users can exchange 6 BKB for 10 BWB;
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Team: 100,000,000 BWB (10.00% of total supply). Allocated to Bitget Wallet team members to incentivize development and attract top talent. This portion is locked for 12 months post-TGE and then linearly released over 36 months;
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Ecosystem Development: 180,000,000 BWB (18.00% of total supply). Used for the growth and development of the Bitget Onchain Layer ecosystem, with linear unlocking after TGE. This allocation supports ecosystem expansion, investments, incubation, and partnership incentives to advance Bitget Wallet’s vision;
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Staking Incentives: 60,000,000 BWB (6.00% of total supply). Reserved to reward users who stake BWB;
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Community Treasury: 469,000,000 BWB (46.90% of total supply). Allocated to support user growth and community incentives. Of this, 6.9% will be released at TGE to meet marketing and liquidity needs, while the remainder will be unlocked linearly over time.
BWB will be released over five years according to the schedule shown below.
At TGE, the circulating supply of BWB will be very limited. Tokens allocated to private investors and the team will not begin unlocking until one year after TGE, while those for staking incentives, ecosystem development, and the community treasury will unlock slowly and linearly. As a result, there will be no significant token sell-off pressure in the first year following TGE.
Market Cap Comparison Within Category
According to CoinGecko data, the four best-known and highest-market-cap wallet projects are:
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Safe (SAEF): Total supply 1 billion, currently circulating 427 million, market cap $598 million;
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Trust Wallet (TWT): Total supply 1 billion, currently circulating 416 million, market cap $422 million;
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SafePal (SFP): Total supply 500 million, currently circulating 462 million, market cap $380 million;
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Coin98 (C98): Total supply 1 billion, currently circulating 733 million, market cap $237 million.
Top Four Wallet Projects by Market Cap
For short-term price growth potential, circulating market cap is a key factor. Based on official data from Bitget Wallet, the initial circulating supply of BWB is only 127 million. At the current price of $0.48, this gives a circulating market cap of $60.96 million—representing 3.9x growth potential compared to C98, 6.2x vs. SFP, 6.9x vs. TWT, and 9.8x vs. SAEF. Given Bitget Wallet’s backing by an established exchange, it has strong potential to enter the top tier of wallet projects in the short term, indicating highly favorable growth prospects.
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