Top Crypto Derivatives Exchange Bitget Reveals New Unitilities And Burn Mechanism For Native Token

Crypto exchange Bitget — one of the leading platforms on the crypto derivatives trading market, has announced the update of its whitepaper document to bring it in line with the new features of the native BGB token. The new whitepaper outlines the many new utility features that have been incorporated into the BGB token, making it one of the key instruments within the Bitget ecosystem.

Bitget has delved into roadmap details for the BGB token as part of the new whitepaper, which reveals that new economics and use cases will be incorporated into the asset. New features that have not yet been disclosed in full are also explored in the document, including the many benefits token holders can expect to receive.

“We are thrilled to release the updated BGB token whitepaper, which outlines the plan for the coming utilities and our ambition to enhance this native token as a powerful tool within the Bitget ecosystem. We believe that the crypto ecosystem should be simple, secure, and accessible for everyone worldwide, and we are committed to making this vision a reality through our ongoing efforts to enhance BGB and expand our offerings. Bitget will continue expanding our lineup of products and services, which will integrate with the BGB use cases and innovation, providing our users with access to exclusive privileges and rights,” as Gracy Chen, the Managing Director of Bitget, commented on the new development.

Bitget has revealed that among the features will be a BGB lottery, as well as a trial fund that can be applied to futures trading. Holders can also expect to enjoy zero fees and passive earning services. The BGB token will also be endowed with its own burn mechanism that will be used as a deflationary measure to maintain the asset’s value.

At present, the BGB token is used within the Bitget ecosystem for providing trading discounts, as well as access to such native services as the Launchpad and Launchpool. Holders can also vote on various project listings and enjoy a host of other exclusive benefits when using the token within the framework of the Bitget ecosystem.

Bitget has minted a total of 2 billion BGB tokens, with just over 1.4 billion currently in circulation. The token has experienced considerable traction since the beginning of the year, peaking at $0.51 per token in February, and achieving in excess of 500% in trading volume growth. The token is currently ranked number 9 on the list of CEX tokens and boasts a $10 million 24-hour range volume.

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