|Mkt.Cap||$ 3.34 M||Volume 24H||13.22 M BGG|
|Market share||0%||Total Supply||10 B BGG|
|Proof type||N/A||Open||$ 0.0007|
|Low||$ 0.0007||High||$ 0.0007|
BGG - Redefine the Blockchain Industry
To qualify as a VIP you need to hold at least 3 million BGG-tokens (the exchange’s own tokens). Apparently, when you are a VIP you receive special benefits, such as gifts and enhanced customer support. Bgogo is a cryptocurrency exchange that stands apart from other crypto exchanges by being the first to offer supernode listing authority.
Bgogo is a cryptocurrency trading platform that differentiates itself as the first exchange to feature supernode listing authority. If you run a supernode, you can enjoy certain benefits.
Supernodes are required to lock their BGG token positions for at least one quarter during their tenure. Real-time and manually curated cryptocurrency data brought to you by CoinMarketCap, CryptoCompare, IntoTheBlock and CryptoSlate.
This helps to ensure that only digital assets of the highest quality get listed. Compliance and regulation, something that can change dramatically overnight, is something that every exchange faces. A mitigation factor is that Bgogo only engages in crypto-to-crypto trading pairs.
Thisexchangedoes not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at thisexchange, you will have to purchase cryptos from anotherexchangefirst and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool. Bgogo seems to be registered in the Cayman Islands as crypto-asset platform aiming to be a community-driven platform for and by the community.
The team behind this exchange aims at providing users with low-cost trading experience. The core team consists of more than 30 members with backgrounds in various profitable firms such as Facebook, Microsoft, Alibaba, Twitter, and Boston Consulting Group.
BGG tokens will be privately funded by 21 blockchain companies and VC firms as shown in the below diagram and as such, they will act as the platform’s first supernodes. Bgogo also utilizes transaction mining, a new feature that is used by a number of exchanges (e.g. FCoin) whereby a portion of commission revenue is distributed back to token holders. Bgogo claims to have a higher utilization rate as it uses a buyback model where 100% of the commission revenue is used to repurchase BGG tokens.
Past performance is not necessarily indicative of future results. BGG is the token issued by Bgogo platform which is the proof of stake for the trading infrastructure. The upper limit amount of BGG is 10 billion without additional public offering. Also, under the exclusive “self-governance” mode, each supernode has the full discretion to list one cryptocurrency.
- Compliance and regulation, something that can change dramatically overnight, is something that every exchange faces.
- This will enable them to buyback more tokens which are subsequently burned and the value of the remaining tokens will go up in value, all else equal.
- Bgogo was established in 2017, initially under the name bitgogo, and began exchange operations in April 2018.
- As there are no trading commissions for users, Bgogo could gain traction quickly if the liquidity is strong.
- It is the first digital asset exchange with supernode listing authority, designed to list the most high quality and promising digital assets.
A Bgogo exchange review also reveals that this crypto-asset platform serves the crypto space via no less than 34 active markets and various cryptocurrency pairs. It also seems to have its own token BGG that serves as proof of stack (PoS) in terms of the trading infrastructure. One of the primary purposes of this utility token is to serve as a trade reward for active users. This is done through what is called transaction or trade mining, an activity where users mine native token by placing trades. This kind of activity is controversial as it encourages wash trading that is a form of market manipulation.
Profits from investments done by B Labs can be quite volatile. The Bgogo team has a good mix of experience from the business and technical side, including experience from operating other cryptocurrency exchange.
If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors. Another interesting feature is that Bgogo has a “VIP service ecosystem”.
The buyback tokens will be sent to a burn address made public. CryptoRank provides crowdsourced and professionally curated research, analysis and market-moving news to help market participants make more informed trading decisions. Whether you’re looking for the set of highly practical and insightful market information, market data or analytics, we have the tools to address your business needs. @BgogoExchange made a cool exchange and attracted a huge number of investors who are confident in its success!
Currently, most of the large cryptocurrency funds are awash with liquidity, so we don’t expect the current supernodes are eager to reduce their BGG positions and give up the right to be a supernode. After the listing of the BGG token, the platform will be in full operation offering negative transaction fees and daily token repurchases. Supernodes will be able to exercise their rights and new supernodes will be re-elected on a quarterly basis. Each supernode has full discretion to list one cryptocurrency candidate during the quarter; 20% of the transaction fees generated by the successful candidate will be returned to the supernode.
Negative trading fees
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Bgogo Token BGG
Mineable BGG tokens (50% of total supply) will be reserved for users in the form of high-frequency trading fee rebates, commonly known as mining through trading. A user's probability to earn DOUBLE BGG trading fee rebates will depend on their BGG HODL Points (BGG HP).
If the project is good, the opportunity for a bigger allocation is the bonus already. Because of the buyback nature, Bgogo tokens are most likely security tokens and it is unlikely that it would be listed on other centralized exchanges. Trans-mining is controversial and there is currently no proven example over a long period of time. Using all the transaction fees for buyback would result in the exchange seeking other source of cash flow to maintain operations, despite Bgogo having a healthy balance sheet now.