Bitget Introduces LaunchX: A New Token Launch Platform Featuring Fuel Network as Its First Project

VICTORIA, Seychelles, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange and Web3 company, announces the launch of LaunchX, a token launch platform that connects transformative blockchain projects with the global Web3 community, enabling effective early token distribution and adoption. The inaugural project to debut 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 fair distribution practices, ensuring a user-centric environment for token launch and distribution. It supports blockchain projects by offering access to Bitget’s vast ecosystem of over 45 million users and expert guidance through token listings and post-launch growth. The platform empowers developers to focus on innovation while providing participants with the confidence and convenience of a trusted exchange platform.

As part of the $FUEL launch, 20% of the total initial supply will be allocated to the Fuel community. The FUEL token, with a total supply of 10 billion, will have 2.75% of its supply available for sale through the Bitget LaunchX platform. Eligible Bitget users meeting KYC and other requirements can participate in the subscription using USDT from December 16 to 19, with an individual cap of 3,000 USDT per user.

Fuel Network represents a breakthrough in blockchain infrastructure. Fuel Ignition is the fastest (>600 TPS) and least expensive (<$0.0002 min per transaction). Optimistic rollup on Ethereum and employs advanced technologies like the Fuel Virtual Machine (FuelVM) and its proprietary UTXO-based design to offer unprecedented scalability and speed. Since launch, Fuel Ignition has achieved nearly $400 million in total value locked (TVL).

Nick Dodson, the CEO and co-founder of Fuel Labs, leads the team responsible for the first Stage 2 optimistic rollup, which includes experts in blockchain scalability and Ethereum Layer 2 solutions. In 2023, the company raised $80 million in funding with participation from prominent investors such as Blockchain Capital, Stratos, and Maven 11.

“Our focus at Bitget has always been providing the best possible solutions for users and projects. We're here to support the ongoing wave of crypto innovation and plan to sharpen our products as per the needs of the market. With LaunchX, users will now gain almost instant access to top projects that were previously not easy to find and shortlist. This is the new route to find hidden gems,” said Gracy Chen, CEO at Bitget.

LaunchX marks a significant step forward in Bitget’s mission to drive global crypto adoption. By prioritizing security, transparency, and accessibility, the platform aims to provide a seamless and reliable experience for both projects and participants.

For further information about LaunchX and Fuel Network, please visit here.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/309caeea-0412-44f8-8e9a-93891c0a2e53

source: Bitget Limited