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. BGG will reward active users with trade mining. Also, under the exclusive “self-governance” mode, each supernode has the full discretion to list one cryptocurrency.
BGG token distribution ratio
50% of total platform token BGG will be used to reward users where users will get trading fees back in the equal amount of BGG. Users will receive 105% high-frequency trading fee return every 30 minutes as a reward.
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.
BGG mining mechanism
BGG token are privately funded by 21 top-tier blockchain organizations around the world. They will take up to the post of the first super nodes.
1. The tenure of each supernode is one quarter. Within the period, each supernode is entitled to “one vote to list”, in other words, the full discretion to list one candidate in a global context. Supernodes must lock the positions of BGG within the tenure (90 days).
2. “Commissions”. 20% of the transaction fees generated by the successful candidate will return to the supernode during the candidate’s listing period.
After the end of each quarter, new super nodes will be generated according to BGG’s position ranking. Bgogo team will conduct strict KYC qualification review on the candidates.
1. Mining: trading on BGG is considered as mining, i.e. 105% trading fee return.
2. Purchasing: users can obtain BGG by exchanging.