Bitget Released Updated $BGB Whitepaper With New Utilities and Buyback/Burn Mechanism

Crypto exchange Bitget has released an updated whitepaper for its native token $BGB. The new document outlines the benefits that $BGB provides as a utility asset within the Bitget platform, including the $BGB lottery, a trial fund for futures trading, zero withdrawal fee, and exclusive earning services.

As part of the token's economic side, a BGB buyback and burn mechanism are also being considered to reduce the token's circulating supply and eventually boost its value.

The updated whitepaper also reveals the roadmap for BGB's development, including use case scenarios and economics. Bitget plans to integrate both DeFi and CeFi on its platform, offering users a wider range of financial products and services.

$BGB is a utility token with a circulating supply of 1.4 billion and a total supply of 2 billion. It provides users with exclusive privileges and various rights on the Bitget exchange, such as fee discounts and opportunities to join Launchpad and Launchpool services.

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