Victoria, Seychelles – bitget, the leading crypto derivatives and copy trading exchange, has released the updated white paper for its native token, BGB. In it, she outlines the benefits BGB brings as a utility asset to the Bitget platform as well as the benefits holders can expect to receive.
The white paper update provides a roadmap for the development of the BGB, outlining its use cases as well as its tokenomics. The paper showcases BGB innovations, including a number of devices under development that aim to provide more benefits to BGB holders. Features include a BGB lottery, Futures trading bonuses, zero withdrawal fees, and exclusive Earn services. In terms of tokenomics, a BGB redemption and token destruction mechanism is being considered to reduce the circulating supply and increase the value of the token.
BGB’s whitepaper update outlines Bitget’s plans to introduce new utilities for its native token, as well as the roadmap for its future development. Bitget aims to continue its expansion into the copy trading market and integrate both DeFi and CeFi on its platform. This integration will provide users with a wider range of financial services and products, and provide them with a smoother and more secure trading experience.
BGB is a utility token that plays a vital role in the Bitget ecosystem. With a circulating supply of 1.4 billion and a total supply of 2 billion, the BGB allows users to access exclusive benefits on the Bitget exchange platform, such as fee reductions, opportunities to invest in high-quality projects via Launchpad and Launchpool, voting for project listings, and more. The BGB was launched with the belief that the crypto ecosystem should be simple, secure and accessible to everyone, worldwide.
Gracy Chen, CEO of Bitget, also said:
“We are excited to publish the updated BGB whitepaper which details our plan for its future use cases as well as our ambition to grow this native token into a powerful tool in the Bitget ecosystem. . We believe the crypto ecosystem should be simple, secure, and accessible to everyone around the world, and we are committed to making this vision a reality through our continued efforts to improve BGB and expand our offerings. Bitget will continue to expand its suite of products and services, and incorporate BGB’s use cases and innovations, to provide our users with access to exclusive rights and privileges. »
BGB has been performing impressively over the past few months, hitting an all-time high of $0.51 in February and seeing 500% growth in trading volume. According to CoinGecko, BGB is the 9th largest CEX platform token by market capitalization, with an average 24-hour volume of $10 million. The token was recently listed on Bitfinex, securing a new partnership for the cryptocurrency platform.
Gracy Chen, Managing Director of Bitget commented:
“We are delighted to see BGB listed on the Bitfinex platform, reflecting Bitget’s recognition and success in the crypto space. With ongoing initiatives to increase the use and value of BGB, we hope this move will further expand the reach of our platform. In the meantime, as our ecosystem continues to grow in the CeFi and DeFi world, giving our token more visibility and utility will also be one of our goals going forward. »
About Bitget
Created in 2018, bitget is one of the world’s leading cryptocurrency exchanges, whose flagship features are Futures trading and copy trading services. Serving over 8 million users in over 100 countries and regions, the platform is committed to helping users trade smarter by providing them with a versatile and secure trading solution. Bitget is also inspiring the general public to adopt cryptocurrencies through collaborations with renowned partners, including legendary Argentine footballer Lionel Messi, legendary Juventus Turin, and official esports event organizer PGL. According to CoinGecko, Bitget is currently in the top 5 Futures trading platforms and the top 10 Spot trading platforms.
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