Bitget is going to give away up to 50 times the value of the first BGB perpetual futures
Bitget is the biggest cryptocurrency exchange and web3 business in the world. They are excited to say that their own coin, Bitget coin (BGB), can now only be used for selling futures on their website.
A straightforward, secure crypto ecosystem that is accessible to all is the objective of Bitget’s ecosystem token, BGB. Launched in July 2021 with a total supply of 2 billion tokens, BGB currently has 1.4 billion tokens in circulation. Bitget Token (BGB) provides exclusive benefits to all holders in order to distribute the benefits of Bitget’s expansion to all users. These benefits, which include free withdrawals, access to token sales or airdrops on Launchpad and Launch Pool, and other platform-specific benefits, incentivize users to hold and use BGB, thereby fostering a robust utility-driven ecosystem. They include spot trading fee discounts.
In addition to futures trading, BGB can be traded on Bitget’s spot and margin markets, used for copy trading, and utilised with trading algorithms, thereby increasing the token’s versatility and utility within the Bitget ecosystem. Other significant centralized exchanges, such as Bitfinex and MEXC, have also listed the token. BGB has exhibited remarkable market performance, reaching a new all-time high of $1.4306 in early June 2024, a 141.4% increase in the past year.
Bitget’s CEO, Gracy Chen, expressed her opinion: “We are delighted to broaden the trading options for BGB, providing our users with additional opportunities to capitalize on Bitget’s native token. The inclusion of BGB in the futures market, in addition to our existing trading services and utilities, demonstrates our dedication to delivering a comprehensive, rewarding, and intelligent trading experience. I am eager to see the token and the company reach new heights.”
Bitget announced the upgrade of its native token BGB’s smart contract address on July 1st. The purpose of this improvement is to enhance the utility and potential of BGB, thereby enabling its potential for use in a variety of dApps and facilitating future listings on more decentralized and centralised exchanges. Bitget will conduct a series of competitions to give away 20,000 BGB to its users in honor of the introduction of the first BGB perpetual futures.
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