BitGo has launched an all-in-one token management platform for Web3 projects. While this solution has already been adopted by players like LayerZero (ZRO) or Worldcoin (WLD), what does it consist of?
BitGo Introduces All-in-One Solution for Token Management
Monday, BitGo introduced a platform for Web3 protocols to enable them to efficiently manage all operations linked to their token:
We are pleased to announce the launch of BitGo's new Token Management platform—a comprehensive, automated solution designed for foundations, protocols, and organizations managing digital assets.
This industry-leading platform offers end-to-end token management, simplifying…
— BitGo (@BitGo) September 16, 2024
💡 Learn how to analyze the tokenomics of a project
To date, several well-known players in the ecosystem have already adopted this new feature.namely LayerZero (ZRO), Worldcoin (WLD), SUI as well as ZetaChain (ZETA)The said platform attempts to address a problem whereby projects lack a unified solution to manage all aspects of their token:
Projects end up having to assemble a non-custodial wallet solution, a smart contract for distribution, and yet another provider for custody. The result? A disjointed and inefficient process that only solves independent pieces of the puzzle: custody, management, or distribution, never all three.
So, this solution tries to offer an all-in-one answer, where everything can be managed from one place, from tokenomics to validators for example, through protocol development and asset custody. In addition, reports for regulatory transparency or tax administration can also be generated.
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On the technical side, BitGo relied on HeightZero's softwarea company acquired last year that initially specialized in cryptocurrency wealth management. Through internal developments, this platform has been improved to become the solution offered today.
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Source: BitGo
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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