VICTORIA, Seychelles, Sept 3 (Bernama-GLOBE NEWSWIRE) —Bitget, the leading cryptocurrency exchange and Web3 company, is excited to share its strategic collaboration with its trusted ecosystem project Morph, the EVM layer for payments and onchain consumer finance. The duo has signed up to boost BGB’s utility across a multitude of projects.
With this partnership, Bitget will transfer all BGB tokens that it controls, 440 million in total, to the Morph Foundation. Half of this allocation, 220 million BGB, will be burned in a single action, while the remaining 220 million BGB tokens will be locked and released at 2% per month to fund liquidity incentives, use case expansion, and education. Morph will become the native onchain home of BGB and serve as the core settlement layer for more than 120 million users worldwide, with BGB established as the gas and governance token of an improved high-performance network.