The latest white paper on BGB token focuses on: integrating PayFi, strengthening on-chain applications, destroying 40% of circulation and continuing deflation

The platform token $BGB of the Bitget exchange has been hitting new highs recently. The official has also released the latest whitepaper and burned 40% of the tokens, which has added positive news to the market. The leading platform token is still Binance's BNB, and taking BNB as an example, the most important thing for a platform token is multi-empowerment, and it can even have practical applications on the chain outside the exchange. Now the combination of $BGB and $BWB increases the on-chain and PayFi applications, making the development in 2025 more anticipated.

(Bitget announces the merger plan of BWB and BGB, Bitget explains the reason for the surge of BGB: it is indeed a value investment)

Bitget promises to maintain the advantage of BGB token distribution

We have previously reported that the growth of the Bitget platform is evident, and as the native token of the Bitget platform, the application scenarios and future development direction of BGB are also gradually expanding. If BGB is used to pay the spot trading fee, an 8% discount can be enjoyed. Users can also upgrade their VIP level by holding BGB tokens, and if they pledge BGB on the exchange, they can enjoy free withdrawals and platform dividends daily, with the current annual yield of pledging around 2% according to the Bitget website.

In addition, Bitget platform has also launched Launchpool and PoolX, and has launched Bitget Wallet Fair Launchpool on the chain, all of which are functions to obtain airdrops by pledging $BGB tokens. Launchpad is the function of using $BGB to subscribe for early tokens. Bitget also stated that it will maintain the advantage of BGB holders in the distribution of token airdrops.

In the future, the BGB token will serve as a high-pledge asset in the platform's on-chain pledge lending, joint margin, and unified account, which can further activate the capital utilization rate of BGB holders.

BGB as the core asset of Bitget PayFi

Bitget has also launched PayFi tools such as Bitget Card and Bitget Pay, and holding a certain amount of BGB can unlock specific merchant discounts, consumption rebates, fee rate discounts and more channel services (I personally think it's like the previous cycle's Crypto.com card). In addition, BGB also serves as the payment token for Bitget in the PayFi field.

Will Morph be the first station on the BGB chain?

In terms of on-chain applications, BitgetWallet will prioritize using BGB as the way to pay gas fees, and will also push BGB into the mainstream public chain and DeFi ecosystem. Specifically, it will increase the liquidity of BGB on the chain, promote the staking yield of BGB in DeFi, and provide the opportunity to obtain airdropped tokens for holding BGB on the chain.

In addition, the author noticed that Morph, a Layer 2 project that has been discussed in the Chinese-speaking area, has also received investments from Bitget and Foresight Ventures, and the two are closely related. BGB is currently only issued on the Ethereum mainnet and Morph, so we can expect the liquidity of BGB on the chain to be opened up from Morph.

20% of quarterly revenue is used for buyback and burning, BGB becomes a deflationary token

Finally, Bitget stated that starting in 2025, 20% of the exchange and wallet fee revenue will be allocated to repurchase and burn BGB, and the core team's 40% of tokens will be burned in the near future. After the burning, the circulating supply of BGB will be reduced from the original 2 billion to 12 billion, and this will continue.