^VICTORIA, Seychelles, Dec. 30, 2024 (GLOBE NEWSWIRE) — Bitget
(https://www.bitget.com/), the leading crypto exchange platform and Web3
Company, has a new white paper
(https://img.bitgetimg.com/multiLang/events/BGB-whitepaper-en-20241227.pdf) for
released its native token, Bitget Token (BGB). The update also includes
Plans to expand the token’s usability, an unprecedented initiative,
800 million BGB tokens – an equivalent value of over $5 billion based on the
current market prices – to burn. This step demonstrates Bitgets
Commitment, a deflationary supply model for BGB to accelerate its
Enforce usability.
The new white paper presents an ambitious plan for token burns.
Initially, 800 million BGB – 40% of the total offer – should be received immediately
be burned permanently, bringing the circulating stock to 1.2 billion
reduced. Starting in 2025, Bitget will introduce quarterly burns. Become this
20% of the profits from the Bitget Exchange and Bitget Wallet, including income
from spot, futures and NFT transactions, spent to buy back BGB
and to burn. Activities associated with combustion become on-chain
saved. This ensures transparency and accountability to the
Community.
Bitget recently announced the merger of Bitget Token (BGB) and Bitget Wallet Token
(BWB) known (https://www.bitget.com/blog/articles/bitget-bgb-bwb-merge). After
This merger will centralize BGB as a unified token for Bitgets
decentralized ecosystems function. Currently BGB offers its holders
various benefits including fee discounts, VIP privileges and access to
Token farming via Launchpool. In the future, Bitget plans to expand
Usability of BGB in on-chain ecosystems and presents it as a core asset for
Staking, liquidity provision and suitability for airdrop. About it
In addition, Bitget Wallet (https://web3.bitget.com/en) services such as multi-chain
Support gas fee payments while illustrating its use cases
expand everyday PayFi scenarios.
In the highly competitive landscape of crypto exchanges, Bitget has positioned itself in the
as the fastest growing centralized exchange in recent years
(Centralized Exchange, CEX). This performance is carried out by a team
1,600 experts from over 60 countries, a comprehensive ecosystem of fiat,
spot, margin and futures trading as well as groundbreaking technology,
which ensures a seamless trading experience. Bitget strengthens this
User trust is also provided through advanced security measures, including
a $600 billion protection fund and a monthly updated one
Proof of reserve. Its proactive compliance strategy and acquisition of
Licenses in multiple countries strengthen its position as the world’s leading CEX.
?CEX are the backbone of the growth of cryptocurrencies towards
Mass application. Bitget’s mission to fuel the new wave of innovation
will unfold in the coming year,” said Bitget CEO Gracy Chen.
“Our decision to burn $5 billion worth of BGB stands in the
In line with our plans to make it a strong medium for value transactions
make. Our next phase will expand the usability of BGB On-Chain, it
integrate it into other DApps and make it suitable for the masses. BGB will then become available to everyone
available, making PaiFi part of everyday life,” she added.
BGB has recorded an exceptional performance in 2024. His
Market capitalization increased by over 1,000% in the last year and has increased since then
Foundation increased more than a hundredfold. This impressive growth is driven by
a proven track record of the token’s strong use cases and
the success of Bitget’s innovative ecosystem.
The publication of the updated BGB white paper is an important one
Milestone for Bitget. By reducing the supply, expanding the
Usability and expansion of practical applications will BGB more functions and
Products in the Bitget ecosystem strengthen and support sustainable growth and long-term
Drive value for owners.
You can find out more about the BGB white paper at this link.
(https://img.bitgetimg.com/multiLang/events/BGB-whitepaper-en-20241227.pdf)
About Bitget
Founded in 2018, Bitget is the world’s leading cryptocurrency exchange
(https://www.bitget.com/) and Web3 company. With over 45 million users in
Bitget is committed to serving more than 150 countries and regions
users with their groundbreaking copy trading feature and others
Trading solutions to help you trade smarter. It offers at the same time
Real-time access to the Bitcoin price (https://www.bitget.com/price/bitcoin),
Ethereum course (https://www.bitget.com/price/ethereum) and others
Cryptocurrency prices. Bitget, formerly known as BitKeep
Wallet (https://web3.bitget.com/en) is a premier multichain crypto
Wallet, which offers a range of comprehensive Web3 solutions and features including
Wallet features, token swap, NFT marketplace, DApp browser and more.
Bitget is at the forefront when it comes to increasing adoption
Advancing cryptocurrencies through strategic partnerships, such as: B. as
official crypto partner of the world’s best football league LALIGA for the EAST, SEA
and LATAM market, as well as as a global partner of the Turkish national athletes Buse
Tosun Çavu?o?lu (world wrestling champion), Samet Gümü? (Gold medalist in
Boxing) and?lkin Ayd?n (national volleyball team) to the global
To inspire community to become part of the future of cryptocurrency.
For more information, please visit: Website (https://www.bitget.com/en/) |
Twitter (https://twitter.com/bitgetglobal) | Telegram
(https://t.me/BitgetENOfficial) | LinkedIn
(https://www.linkedin.com/company/bitget-global/) | Discord
(https://discord.com/invite/bitget) | Bitget Wallet (https://web3.bitget.com/en)
For media inquiries please contact: [email protected]
(mailto:[email protected])
Risk warning: The prices of digital assets are subject to fluctuations and
can have high volatility. Investors are advised to deposit funds only
to use assets they can afford to lose. The value of each investment can
be affected and there is a possibility that the financial
Goals are not achieved and the capital investment is not recovered
can. Independent financial advice should always be sought
and personal financial experience and situation should be considered
be checked carefully. Past performance is not
reliable indicator of future results. Bitget doesn’t take any responsibility
Liability for any losses. The information contained herein is not
construed as financial advice. For more information, see our
Terms of Use (https://www.bitget.com/support/articles/360014944032-terms-
of use).
You can find a photo of this announcement at
http://www.globenewswire.com/NewsRoom/AttachmentNg/f4c8dfe0-bda4-42f0-9653-
dd0e50c71046
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