Summary
Project name: Bgogo
Token symbol: BGG
Website: https://bgogo.com
Telegram : https://t.me/Bgogo
Twitter : https://twitter.com/BgogoExchange
White paper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.7.1EN.pdf
Hard cap: 6,700,000
Total Tokens: 10,000,000,000
Conversion rate: 1 BGG = 0.0067 USD (0.00001500 ETH)
Bonus structure: Users can trade on the Bgogo platform and receive a 105% trading fee rebate in the form of BGG tokens.
Private sale / white list: https://bgogo.com/announcement?link=mining
Countries excluded: None
Token Distribution Breakdown:
50% (5 billion) will be mineable by users through trading
20% (2 billion) will be reserved for ecosystem developments and Bgogo
daily operations
20% (2 billion) will be reserved for the team
10% (1 billion) will be allocated among the first generation of supernodes
and strategic investors.
Token Sale : 10% of the total supply (1 billion BGG tokens) will be sold for 15,000 ETH to the founding generation of supernodes as well as strategic partners during the private sale. The private sale price is 1 BGG = 0.000015 ETH. Each supernode is granted an allocation of 500 ETH, totalling 10,500 ETH for all 21 supernodes. The rest 4,500 ETH is raised from strategic investors as well as ecosystem partners.
Project Overview
1: What is BGG ?
The exchange of the community, by the community, for the community. Bgogo is the first digital asset exchange with supernode listing authority, designed to list the most high quality and promising digital assets.
Mining through Trading : Mineable BGG tokens (50% of total supply) will be reserved to users in the form of trading fee rebates, commonly known as mining through trading. A number of BGG tokens equivalent to 105% of the trading fee will be returned to user in only 30 minutes after the trade. Bgogo reserves the right to make adjustments to the rebate rate as we grow, but we promise to maintain a minimum rebate of 100%. The price of BGG will be determined by the market price at the time when a trade is finalized.
BGG Token Buyback : Every 24 hours, Bgogo will use 100% of the trading commision accumulated to repurchase BGG. The buyback tokens will be sent to a burn address
made public.
2 : Supernodes
What’s a supernode?
Definition :
There are 21 BGG supernodes. The founding generation of supernodes are selected from leading cryptocurrency institutions across the globe. These entities will participate in the BGG token private sale. Playing a key role in the Bgogo ecosystem, each supernode is granted the "One Vote, One Listing" right as well as the benefit of “20% Per-Trade Commission” over lifetime.
Tenure :
The tenure of each supernode is one quarter, i.e. roughly 90 days. At the end of each quarter, Bgogo supernodes are re-elected based on the top 21 accounts in BGG holding position (see supernode re-election mechanism). Supernodes are required to pass KYC verification and subject to vetting from the team in order to qualify. This is for the purpose of protection against potential violations of laws and regulations.
One Vote, One Listing :
Each supernode is entitled to "One Vote, One Listing" authority. This privilege gives status holders the right to pick a cryptocurrency to list on the Bgogo trading platform during its tenure. This is under the premise that the cryptocurrency nominated passes legal qualifications and is approved to be listed by the project team. In the event where multiple supernodes are competing to list the same cryptocurrency, Bgogo will respect the project team’s decision of which supernode they choose to nominate them. Thus, a total 21 coins from supernodes should be listed during each quarter.
20% Per-Trade Commission:
A fixed amount of 20% of the trading commision generated from trading the cryptocurrency a supernode nominates will be paid to the supernode.
Re-Election Mechanism:
A daily snapshot of all individual accounts on our platform will be taken at 00:00 (UTC+8). This will be utilized as a criteria for supernode re-election. Based on the daily weighted calculation of BGG positions held in each account, we will obtain a ranking of total BGG holdings in one quarter. The top 21 accounts of that ranking who pass KYC verification will be eligible to obtain supernode status in the following quarter. If a prospective supernode is ineligible or declines to undertake the status, the status will be granted to the next BGG holder in-line as determined by the ranking of that quarter.
3: Team member
Bgogo’s team includes professionals with a working background in tech giants like Google, Facebook, Twitter, and IBM. They are a fully secured and hassle-free platform as it is operating under the supervision of ZHANG YIBO who has over 12 years of professional experience in asset management, private equity, listed companies and investment management sectors both in Hong Kong and in Mainland China. Moreover, Bgogo is backed by a blockchain investment giant Pantera Capital as they have officially announced strategic investment in Bgogo. It is just a matter of time when Bgogo takes over the crypto trading industry.
4: What's the difference between Bgogo’s mining system and other platform’s
Unlike other trading platforms that hardly reward their traders for anything, Bgogo will reward their traders with three things:
a. The first reward that is a complete game changer is the negative fee on every transaction. The traders will get BGG tokens for the equivalent of their transaction fee within 30 minutes.
b. The Second Reward is that the BGG Supernodes will be granted Sole Listing Authority (voting rights for new token listing) and Share 20% of the trading fees.
c. Every 24 hours Bgogo will use all of the trading fees accumulated from a trader to repurchase BGG tokens.
5: Conclude
The primary unique selling point of Bgogo is that they emphasis over the quality and excellence of the crypto exchange, meaning, their trading platform is not only reliable, but it makes transactions with a speed of light. This is the prominent reason for considering the Bgogo trading platform.
In my opinion a very promising project, read the white paper convinced the presence of the specific plan and the presence of a professional team.
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