We are living in the era of decentralization. There are many developments happening in the space which offers decentralized infrastructure and application that will help to shape the cryptospace as we know it. Every projects provides a token(fuel of the respective project network) or a coin(currency). To provide liquidity to the token/ coins, it’s immaterial to have a digital asset exchange,
Bgogo offers a digital asset exchanges which is certainly a first of its kind in many ways.
• First exchange to have a super node authorities
• First exchange to rebate trading fees completely.
• First exchange to offer daily repurchase & burn of exchange tokens
Let me elaborate on Bgogo and how they stand out among other exchanges in this article.
First exchange to have a super node authorities:
At present top exchanges charge million as listing fee for a project. So, apart from having to collect fund for development of as project, they are in a forced situation to afford a costly listing to provide liquidity to user. Bgogo exchange is a game changer here.
There are 21 BGG supernodes. The founding generation of supernodes has been selected from leading cryptocurrency institutions across the globe. The list of initial supernode is as follows
10% of the total BGG token supply is sold equally to these 21 supernodes. Each supernode is entitled to "One Vote, One Listing" authority. Each supernode can choose to vote for one project for listing during their tenure. He supernodes get 20% transaction fee of the listed token as benefit. The tenure for chosen supernode is 90 days. Afterwhich re-election of supernode will take place considering daily snapshot of holding of BGG tokens. Top 21 holders as per snapshot will be chosen as supernode for next quarter.
Following are the advantage of this mechanism.
• No listing fee.
• These supernodes are leading cryptocurrency institution. So quality projects will get listed.
• As supernodes need to hold the tokens (not locked), the circulating supply reduces significantly, increasing the BGG token appreciation.
First exchange to rebate trading fees completely:
“First exchange to rebate trading fees completely” is an understatement. Yes, the exchange rebates the trading fees at 105%. You will be given 5% of your trading fee along with your actual spent trading fee in turn in the form of BGC tokens. This rebate will be provided after 30 minutes of the trade. Every trade a user make will mine 105% of the trading fee as BGC and will be provided to the user. 50% of the total BGG token supply is reserved for the above mining through trading.
Following are the advantage of this mechanism.
• Negative trading fee – you earn by just making a trade, even if you buy and sell an asset at a same price.
• The rebate is provided in the form of BGG. BGG itself is an appreciating asset by mechanism. A long term hold is going to give better returns
First exchange to offer daily repurchase & burn of exchange tokens:
Every 24 hours, the Bgogo exchange will use the 100% trading fee collected to buy back the BGG tokens. This bought back BGG tokens will be burnt forever removing them from circulating supply.
BGG token distribution:
Total Token supply is 10 billion BGG.
• 50% will be mineable by users through trading in exchange
• 10% is sold to supernodes & strategic partners
• 20% will be reserved for the team
• 20% will be used for ecosystem development & daily operation.
Sale structure:
10% of the token supply is sold for 15000 ETH.
Price for Private sale to supernode is 1 BGG= 0.000015 or 1 ETH = 66666.666 BGG
Each supernode is granted an allocation of 500 ETH.
How to get yourself some BGG tokens before the mining goes public.??
Users are whitelisted based on their performance in the "BGG Proof of Care" contest.
During Genesis Mining, the total cap is 133,333,333 BGG tokens.
During Genesis Mining, the personal cap granted starts from 1 ETH. The higher quality the contributions are, the more allocations are granted. The platform will inform the user once their cap has been reached, and no additional BGG tokens can be mined through trading afterwards.
No BGG trading pairs are listed during the Genesis Mining event, therefore, the value of BGG will be pegged to ETH at the same price as the private sale. This means that whitelisted users can obtain BGG tokens at private sale price with a 5% bonus.
For more details
https://bgogo.com/announcement?link=mining
Conclusion:
Cryptospace is evolving and exchanges are the main liquidity providers. What Bgogo offers is first & best in many possible ways. Bgogo has set themselves apart by supernode mechanism. This one is pathbreaker move. It is going to inspire many upcoming exchange models. With the regular mining, buyback & burn, supernode holding tokens to retain power the circulating supply will be limited and the BGG token price will appreciate in time. Moreover, the exchange interface is cool to use, pleasant to stare. Bgogo is the exchange from the future.
Bgogo: official websites and socials handles
Website: https://www.bgogo.com/
Twitter: https://twitter.com/BgogoExchange
Telegram Group: https://t.me/bgogo
Disclaimer:
The author of this article is planning to invest in the project. The article has provided only facts & author’s opinion based on the fact. This article is not an investment advice. Requesting to do your own research.