Bitget’s BGB Becomes Morph’s Native Token
Bitget upgrades BGB as Morph blockchain’s gas and governance token, with 220M tokens burned and a new supply model.
- BGB becomes native gas and governance token on Morph
- 220 million BGB will be burned, reducing supply
- Remaining tokens to unlock gradually at 2% monthly
Bitget has officially announced that its native token, BGB, will be upgraded to serve as the gas and governance token of the Morph blockchain. This strategic shift positions BGB at the core of the Morph ecosystem, giving it a more prominent role beyond its previous utility within the Bitget exchange.
The change does not affect BGB’s use on the Bitget platform. Trading, staking, and other exchange functionalities will remain unchanged. However, this upgrade elevates BGB’s utility, enabling it to power transactions (as gas) and participate in governance decisions within the Morph blockchain.
Major Supply Overhaul: 220M Tokens Burned
To align with this new role, Bitget is initiating a massive token supply overhaul. A total of 220 million BGB tokens will be permanently burned, effectively reducing the circulating supply and potentially increasing scarcity.
The remaining 220 million BGB tokens will be locked and released gradually at a rate of 2% per month. This controlled release schedule is designed to prevent oversupply and maintain a balanced token economy within the Morph ecosystem.
Additionally, the Morph Foundation has committed to updating the token’s burn mechanism. The goal is to dynamically adjust supply based on network activity, ultimately targeting a total token supply of 100 million over time.
A Strategic Shift for Long-Term Growth
This move demonstrates Bitget’s ambition to transition from a traditional exchange to an active participant in blockchain infrastructure. By making BGB the native token for Morph, Bitget is laying the groundwork for a broader ecosystem where BGB plays a critical role.
For users and investors, this may signal long-term value growth for BGB, especially with the strong tokenomics model now in place. As blockchain activity on Morph increases, demand for BGB could also grow, reinforcing its value proposition in the crypto space.
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