Leading derivatives exchange and Copy Trade platform Bitget has released an updated whitepaper of its native token BGB. The new document outlines the advantages that BGB provides as a service asset within the framework of the Bitget platform and the benefits that await BGB holders.
The updated BGB whitepaper lays out the roadmap for the token’s development, outlining the use cases and economics on which it will be based. The innovative aspect of the asset is fully conveyed in the document, including a series of utilities under development aimed at bringing greater benefits to BGB holders. These features include BGB lottery, a trial fund for futures, zero withdrawal fees, and special earning services. As part of the token’s economic plan, a BGB buyback and burn mechanism is also being considered to reduce the circulating supply of the token and ultimately increase its value.
The final version of the BGB whitepaper not only presents the exchange’s plans to introduce new tools of the native platform token, but also outlines its future development path. Bitget aims to go further in the Copy Trade market and integrate both DeFi and CeFi into its platform. This integration will provide users with a wider range of financial products and services, providing them with a smooth and more robust trading experience.
BGB is a service token that plays a vital role in Bitget’s ecosystem. With a circulating supply of 1.4 billion and a total supply of 2 billion, BGB offers users discounts on transaction fees on the Bitget exchange, opportunities to join Launchpad and Launchpool services to access high-quality tokens, voting for project lists, and access to special privileges and various rights. BGB token was created with the belief that the crypto ecosystem should be simple, secure and accessible to everyone worldwide.
Bitget Manager Gracy Chen made the following comments about the update:
“We are excited to release the current BGB token whitepaper outlining our plan for future services and our desire to develop this native token as a powerful tool within the Bitget ecosystem. We believe the crypto ecosystem should be simple, secure and accessible to everyone around the world, and we are committed to bringing this vision to life as we continue to improve BGB and expand our offerings. As Bitget, we will continue to expand our product and service range, which offers special privileges and rights to our users, integrating with BGB usage areas and innovation.”
BGB has had an impressive performance over the last few months, reaching an all-time high of $0.51 in February, posting up to 500% growth in trading volume. According to Coinecko, it reached a 24-hour volume of 10 million, making it the 9th largest CEX token by market capitalization.
About Bitget
Founded in 2018, Bitget is among the world’s top five leading cryptocurrency exchanges, with innovative products and social transaction services as its core features. Serving more than 8 million users in over 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop-shop solution. Bitget inspires individuals to embrace crypto through collaborations with trusted partners, including legendary Argentine football player Lionel Messi, leading Italian football team Juventus, and official eSports events organizer PGL. According to Coinecko, Bitget is currently among the top 5 futures trading platforms and top 10 spot trading platforms.
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