Bitget Launches BGB Liquidity Pool on Uniswap to Boost DeFi Access
Bitget has launched a liquidity pool for its native Bitget Token (BGB) on Uniswap, expanding its DeFi presence. This allows users to trade BGB directly on the Ethereum blockchain, enhancing accessibility beyond Bitget’s centralized exchange.
BGB Token Development
- The addition of BGB to Uniswap follows its merger with the Bitget Wallet Token (BWB) on December 27, 2024, streamlining it as a single utility token for both the exchange and wallet.
- The integration into Uniswap increases BGB's utility in the DeFi ecosystem, allowing decentralized trading while maintaining asset control for users.
- Uniswap operates as an automated market maker (AMM), ensuring continuous liquidity and efficient price discovery without intermediaries.
Token Burn Implementation
- Bitget conducted its first token burn on December 30, 2024, removing 800 million BGB from circulation, equating to a 40% reduction in total supply.
- This burn is part of a deflationary strategy aimed at increasing BGB’s scarcity and potential long-term value.
- A quarterly burn mechanism will commence in 2025, allocating 20% of quarterly profits to repurchase and burn BGB tokens.
Additionally, Bitget Wallet introduced the BGB Center, offering benefits such as asset management, rewards tracking, staking opportunities, airdrops, and priority access to crypto bank cards for BGB holders.