The post Bitget Turns BGB Into Morph’s Native Token After $220M Burn appeared first on Coinpedia Fintech News
Bitget has entered an exclusive partnership with the consumer-grade blockchain Morph, officially upgrading its exchange token BGB into the native gas and governance token of the Morph ecosystem. While it takes on new roles in Morph’s infrastructure, BGB will also continue its familiar exchange functions like Launchpool participation and trading fee discounts. Following the news, BGB surged 14%.
BGB Token Burn and Supply Overhaul
220 million BGB tokens have been destroyed in a single transaction, marking one of the largest burns in the exchange’s history. The remaining 220 million tokens governed by Bitget have been transferred to the Morph Foundation and will stay locked, unlocking gradually at 2% per month. These funds will be allocated toward liquidity incentives, ecosystem growth, and user education.
Adding to this supply shift, the Morph Foundation is rol
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