Bitget Burns $1.09B BGB in Morph Partnership
Bitget burns 220M BGB worth $1.09B as part of Morph deal. BGB to power gas, governance, and supply cut to 100M.
- Bitget burns 220M BGB worth $1.09B
- BGB to serve as Morph’s gas and governance token
- Supply reduction plan targets 100M tokens
Bitget has burned 220 million BGB tokens valued at $1.09 billion, marking one of its largest supply reduction moves to date. Alongside this, another 220 million BGB tokens were transferred to a new wallet for future locking. These actions signal Bitget’s strategy to strengthen BGB’s tokenomics and long-term value.
BGB Joins Forces with Morph
The burn announcement coincides with Bitget’s new partnership with Morph, a Layer 2 network. Under this collaboration, BGB will serve as Morph’s gas token for transactions and as a governance token, allowing holders to influence network decisions. This dual role expands BGB’s utility beyond Bitget’s ecosystem, embedding it into Morph’s infrastructure.
Supply Reduction to 100M BGB
The burn and locking mechanism will work hand in hand with Morph’s network activity. As usage grows, more BGB will be burned, accelerating supply reduction. The ultimate goal is to bring the total circulating supply down to 100 million BGB, creating scarcity and potential value appreciation for holders.
This partnership not only strengthens BGB’s fundamentals but also highlights Bitget’s long-term vision of integrating with emerging blockchain ecosystems.
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