Bitget, one of the biggest crypto derivatives exchanges, recently unveiled its updated whitepaper related to native token BGB token with detailed information of new utility features and burning mechanism associated with BGB token. As per the whitepaper, different economics potential and utilization are included to make it a key element of the Bitget platform ecosystem. The whitepaper highlights the benefits that the token holders can expect to gain from the new services and utilities.

Managing Director of Bitget, Gracy Chen, proffered his remarks on the subject that the exchange has committed to optimize BGB token and in addition to its products and services, so as to provide a secure and accessible trading for users of the crypto ecosystem worldwide. A trial fund for futures trading, no fee structure and extra passive earning services are some of the inclusions within new services and utilities as per the announcement by the company.

The value of BGB token is maintained by employing deflationary measure in the form of Token Burn Mechanism. At present, the token is used to obtain discounts on trading services, grants access to Launchpad and Launchpool services and allows to vote on any project listings within the Bitget platform.

2 billion BGB tokens were generated overall, out of which 1.4 billion are in circulation at the moment. Since the start of the year, the token lost no time in gaining popularity and reached its peak at 0.51$/token in February. Trading Volume has also observed a substantial growth of 500%. Seemingly, the current ranking of BGB in CEX tokens is at number 9 and has 24-hour range volume of $10 Million.



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