Cryptocurrency Company Bitget has collaborated with Web3 in a partnership aimed at enhancing exchange and boosting BGB’s utility across a multitude of projects.
Through this collaboration, Bitget will give the Morph Foundation all 440 million BGB tokens under its control.
The remaining 220 million BGB tokens will be locked and distributed at a rate of 2% each month to finance liquidity incentives, use case expansion, and education. The other half of this allocation, or 220 million BGB, will be burned in a single operation.
Morph will become the native on-chain home of BGB and serve as the core settlement layer for more than 120 million users worldwide, with BGB established as the gas and governance token of an improved high-performance network.
“With this commitment to the Morph Foundation, BGB is entering a new chapter as the gas and governance token of Morph. This upgrade expands BGB into the utility token for the next era of on-chain consumer finance, powering payments, applications, and the broader settlement layer for millions of users worldwide,” said Gracy Chen, CEO of Bitget.
Meanwhile, BGB will continue to collaborate with existing partners, including Bitget, MEXC, and Bitfinex, where BGB is already listed, and others beyond these exchanges, serving as a key medium for Launchpool’s new token mining, fee discounts, and more.
Developers building on Morph will gain access to Bitget’s and Bitget Wallet’s base of more than 120 million users, connecting their applications with one of the largest on-chain audiences in the world.
