What is Bitget Token (BGB)?

Deep Dive

1. Centralized Exchange Utility

BGB acts as the backbone of Bitget’s centralized exchange (Bitget), enabling:
- 20% spot trading fee discounts when paying with BGB
- Early participation in token launches via Launchpad and Launchpool
- Profit-sharing opportunities for copy-trading leaders
- VIP tier upgrades with reduced withdrawal fees

2. Deflationary Mechanics

The token employs aggressive supply management:
- Burn program: 30M BGB ($138M) burned in Q2 2025 alone (Bitget announcement)
- Morph partnership (Sep 2025): Transferred 440M team-held BGB – 220M burned instantly, 220M locked with 2% monthly unlocks
- Total supply reduced from 2B (2021) to 919M (2025), targeting 100M via activity-linked burns

3. Expanding Ecosystem Role

BGB has evolved beyond exchange perks:
- Morph blockchain integration: Now used for gas fees and governance on this Ethereum L2 network
- Real-world utility: PayFi integration allows spending BGB on travel/bookings via Bitget Card
- Cross-platform benefits: Valid across Bitget Wallet (non-custodial) and 130+ supported blockchains

Conclusion

BGB has transformed from a basic exchange token into a multi-chain utility asset bridging centralized trading and decentralized ecosystems. Its deflationary model and expanding use cases position it as both a platform loyalty tool and infrastructure token.

Open question: Can BGB maintain its dual role as a CEX loyalty token and L1/L2 utility asset without diluting either function?