Bitget Announces the Launch of New Token Issuance Platform LaunchX, with Fuel Network (FUEL) as Its First Project.
(Background: Bitget Protection Fund Surges to $643 Million in November, Coinciding with Bitcoin Reaching Historic Highs)
(Background Supplement: Bitget Reports Strong Growth in Q3 2024, Solidifying Its Position as the 4th Largest Cryptocurrency Exchange Globally)
This article is a promotional piece, provided by Bitget, and does not represent the views of the editorial team, nor is it investment advice or a recommendation to buy or sell. Please refer to the responsibility disclaimer at the end of the article.
Global leading cryptocurrency exchange and Web3 company Bitget has announced the launch of LaunchX, a brand-new token issuance platform designed to connect disruptive blockchain projects with the global Web3 community, facilitating efficient early token distribution and adoption. The first project launched on LaunchX is Fuel Network (FUEL), an advanced blockchain solution that sets new standards for scalability, modularity, and efficiency in decentralized systems.
LaunchX combines robust security with a fair distribution mechanism, creating a user-centric environment for token issuance and distribution. The platform supports blockchain projects by providing professional guidance for token listing and development through Bitget’s extensive ecosystem, which boasts over 45 million users, allowing developers to focus on technological innovation while participants enjoy the convenience and confidence of a trusted exchange platform.
As part of the $FUEL issuance, 20% of the initial total supply will be allocated to the Fuel community. The total supply of FUEL tokens is 10 billion, of which 2.75% will be sold through the Bitget LaunchX platform. Bitget users who meet KYC and other requirements can participate in the subscription using USDT from December 16 to 19.
Fuel Network represents a significant breakthrough in blockchain infrastructure. Fuel Ignition is the fastest (>600 TPS) and lowest transaction fee (<$0.0002) Optimistic Rollup solution, operating on Ethereum and utilizing advanced technologies such as the Fuel Virtual Machine (FuelVM) and proprietary UTXO architecture, providing unprecedented scalability and speed. Since its launch, the total value locked (TVL) in Fuel Ignition has reached nearly $400 million.
Led by Nick Dodson (CEO and Co-Founder of Fuel Labs), the Fuel Labs team focuses on blockchain scalability and Ethereum Layer 2 solutions. In 2023, the company successfully raised $80 million, with prominent investors including Blockchain Capital, Stratos, and Maven 11.
Bitget CEO Gracy Chen stated, "Bitget has always been committed to providing the highest quality solutions for users and projects. We support the wave of crypto innovation and continuously optimize our products based on market demand. With LaunchX, users will have quick access to those high-quality projects that are often hard to discover. This is a new way to explore the market potential of projects."
The launch of LaunchX symbolizes an important step for Bitget in promoting global crypto adoption. The platform upholds security, transparency, and accessibility, aiming to provide a seamless and trustworthy experience for blockchain projects and participants.
About Bitget
Founded in 2018, Bitget is a world-leading cryptocurrency trading platform and Web 3 company. Currently, Bitget serves over 100 countries and regions globally, helping over 45 million users achieve a "smart" transformation in trading through various trading solutions, including leading copy trading services. Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that offers a range of Web3 solutions and interactive features, integrating wallet, swap, NFT marketplace, DApp browser, and more. Bitget encourages individuals to embrace cryptocurrency through partnerships with trusted collaborators, including being the official cryptocurrency partner of the top professional football league La Liga in East Asia, Southeast Asia, and Latin America, as well as partnerships with Olympic athletes like wrestling world champion Buse Tosun Çavuşoğlu, boxing gold medalist Samet Gümüş, and members of the national volleyball team, such as İlkin Aydın.
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