What Is Bitget Token (BGB)?

Bitget Token is the native token of the Bitget ecosystem. It was launched on July 26, 2021 with an initial supply of 2 billion tokens.

Bitget is a leading cryptocurrency exchange that serves over 100 million users across 150+ countries and regions, offering spot and derivatives trading for over 800 crypto assets. The exchange is also well known for its copy trading feature, decentralized Bitget Wallet, and native Bitget Token (BGB).

Bitget was founded in 2018 and has quickly risen to become one of the largest crypto exchanges in the world. The exchange is known for its user-friendly interface, low trading fees, and a wide range of crypto assets available for trading. Bitget also offers a variety of other services, such as Earn products, loans, a launchpool, and even a NFT marketplace.

In addition to its centralized crypto services, Bitget also provides a comprehensive suite of decentralized web3 services, beginning with the decentralized Bitget Wallet with over 60 million users. Through the Bitget Wallet, users can swap assets across decentralized exchanges with Bitget Swap, list and buy NFTs, and explore the dApp ecosystem across multiple chains.

Previously, there was a separate token for Bitget Wallet’s ecosystem and the Bitget onchain layer (Bitget Wallet Token – BWB); however at the end of 2024, Bitget announced that they would be merging BWB with BGB (Bitget Token). Through this merger, BGB will unify the CeFi and DeFi arms of the project and enables it to synergize both products to deliver more services to users.

Bitget Token (BGB) is the native token of the Bitget ecosystem. It was launched on July 26, 2021 with an initial supply of 2 billion tokens. After the merger with the Bitget Wallet Token in December 2024, BGB is now the exclusive platform token for the centralized Bitget Exchange and the decentralized Bitget Wallet ecosystem.

BGB is the utility token of the Bitget ecosystem, powering the core operations of the platform while offering advantages to its holders. Some of the benefits of holding BGB include:

* Access to Bitget Launchpad/Launchpool

* Fee Discounts on Bitget Exchange

* Token Farming Opportunities

* Gas Token on Bitget Wallet

In the fourth quarter of 2024, Bitget introduced the quarterly burn program for the BGB token. The program introduces a deflationary structure for BGB. As specified in the announcement, the program involves regular buyback and burn for the BGB token. The initial burn event included an 800 million BGB token burn, reducing the total supply of BGB to 1.2 billion with all tokens in circulation. According to the team, the 800 million tokens burnt included 19% of tokens held by the core team and another 21% from tokens in circulation and held by the core team.

Moving forward in 2025, Bitget will dedicate 20% of profits generated each quarter to the buyback and burn program. This includes revenue from fees paid on the spot, futures, and margin trading platforms, as well as fees generated from swaps, futures, and NFT trading on the Bitget Wallet. The token burn for each will be completed at the start of the following quarter, with the exact amount of BGB tokens burnt and on-chain records to be published after each burn event.