Bitget Token bgb
What is Bitget Token?
Bitget Token (BGB) is the ERC-20 utility token of Bitget exchange and Bitget Wallet. It gives holders access to exchange discounts, launch and rewards programs, staking-related benefits, VIP features, and token-holder campaigns.
What problem does Bitget Token solve?
Crypto-exchange users need incentives for trading activity and loyalty benefits. BGB packages those benefits into a transferable platform token and uses scheduled buyback-and-burn to reduce supply.
How does Bitget Token work?
BGB is an ERC-20 token traded on Bitget. On Bitget, users can pay eligible spot fees with BGB for a 20% discount, hold or stake BGB for Launchpad/Launchpool access, and use balances for VIP, Earn, and other features. Bitget's tokenomics use supply destruction through quarterly buyback-and-burn.
Key facts
- Ticker: BGB
- ERC-20 contract: 0x54D2252757e1672EEaD234D27B1270728fF90581
- Issuance date: 2021-07-26
- Initial supply: 2,000,000,000 BGB
- Quarterly buyback-and-burn allocates 20% of profits
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Frequently asked questions
What is BGB used for?
BGB is used for Bitget fee discounts and access to platform programs.
How does BGB's burn mechanism work?
Bitget uses 20% of quarterly profits to buy back and burn BGB.
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