BGB Description
Overview
Bitget Token (BGB) is the native utility and governance token of the Bitget cryptocurrency exchange, launched in 2021 as the platform's exchange token.
It runs on Ethereum as an ERC-20 token (current contract deployed 2024-06-25) and is also issued on BNB Smart Chain (BEP-20). Since a September 2025 partnership with Morph, an Ethereum Layer-2 network, BGB is being progressively migrated to serve as Morph's native gas and governance token, extending its role beyond the exchange that created it.
Value Proposition
BGB's differentiator is its shift from a single-exchange token into the native gas and governance asset of Morph, an independent Layer-2 network.
Since 2025, Bitget allocates 20% of profits from the Bitget Exchange and Bitget Wallet to quarterly BGB buybacks and burns; a Q1 2025 burn alone removed 30,006,905 BGB. Utility extends to GetGas multi-chain gas payments, Bitget Card/PayFi spending, and staking, tying token demand to real platform and payment activity rather than speculation alone.
Token Basics
BGB functions as both a utility and, increasingly, a governance token: it pays for services across Bitget's ecosystem and is becoming the gas token securing transactions on Morph L2.
- Staking through Bitget Wallet at a fixed 5% annual yield
- Gas payments across multiple chains via GetGas
- Spending through Bitget Card and PayFi integrations
- Serving as the native gas token on Morph L2 as migration progresses
Tokenomics
BGB's effective total supply is approximately 910.9 million tokens as of 2026-08-31, down from an original 2 billion minted at launch. Circulating supply is roughly 698-700 million tokens, and fully diluted value is near $1.7 billion.
- Market cap: ~$1.34 billion
- 800 million BGB burned in December 2024, cutting nominal supply from 2 billion to 1.2 billion
- 220 million BGB burned in September 2025 alongside the Morph Foundation transfer
- Ongoing quarterly burns continue reducing supply
Net emission is deflationary, driven by scheduled buyback-and-burn activity rather than new issuance.
Launch & Funding
Bitget Token launched in 2021 as the platform token for the Bitget exchange and Bitget Wallet, with an initial fixed supply of 2 billion tokens.
The canonical Ethereum contract deployed 2024-06-25 replaced an earlier contract in a smart-contract upgrade, not a new token launch; Bitget itself was founded in 2018, three years before BGB's launch.
Bitget's corporate funding includes a Series A round in 2018 led by Consensus Labs and Collinstar Capital, and a Series B round in 2023 led by Dragonfly Capital, with Meteorite Labs, An Lan Capital, SNK, and 8 Decimal Capital also participating.
Blockchain & Consensus
BGB is deployed on Ethereum as an ERC-20 token, the chain's canonical, current contract, and in parallel on BNB Smart Chain as a BEP-20 token.
Since September 2025, BGB is also being migrated onto Morph, an Ethereum Layer-2 network, where it is becoming the chain's native gas and governance token.
Team
Bitget's CEO is Gracy Chen, appointed in May 2024 after joining the exchange as Managing Director in April 2022. She previously worked as a financial TV anchor at Phoenix TV and founded two startups, ReigVR and Accumulus.
Other named leadership includes COO Vugar Usi Zade and Chief Legal Officer Hon Ng.
Issuing Organization
Bitget, a centralized cryptocurrency exchange founded in 2018, issues and originally controlled BGB; Bitget Wallet operates as an affiliated product line under the same brand.
Following a September 2025 strategic partnership, Bitget transferred its full 440 million BGB holding to a newly created nonprofit, the Morph Foundation, which Bitget states is now solely responsible for BGB's future development, roadmap, and burn mechanism, rather than the exchange itself.
Governance
BGB's governance shifted in September 2025 when Bitget transferred its full 440 million BGB holding to the newly formed Morph Foundation, a nonprofit now responsible for BGB's roadmap and burns.
- 220 million BGB from that transfer was burned immediately
- The remaining 220 million is being released at 2% per month to fund liquidity incentives, use-case expansion, and education
Governance currently functions through the Foundation rather than through direct on-chain token-holder voting.
Roadmap
Bitget launched "Stocks 2.0" in June 2026, an upgraded tokenized-equities product on the licensed RWA platform Reality, drawing about $191 million in weekly inflows shortly after launch.
- Continued migration of BGB onto Morph L2 as its native gas and governance token, following the September 2025 partnership
- Ongoing quarterly BGB buybacks and burns funded by 20% of Bitget Exchange and Wallet profits
- Bitget Wallet's fixed 5% annual yield BGB staking program
Security
CertiK audited BGB's contract, known as "BitKeepToken.sol," on August 25, 2023, awarding a Skynet score of 87.02 with an "AA" rating. The audit found one unresolved Major issue flagged as centralization/privilege risk and four informational issues, all resolved.
- No critical or medium-severity issues were identified
- BitKeep (now Bitget Wallet) suffered an $8 million hack in December 2022
- Holder concentration is extreme: the top 10 Ethereum addresses hold 87% of supply, though this largely reflects Bitget treasury, Morph Foundation, and vesting allocations rather than dispersed insider risk
Frequently Asked Questions
What is Bitget Token (BGB)?
Bitget Token (BGB) is the utility and governance token of the Bitget cryptocurrency exchange, launched in 2021. It runs on Ethereum (ERC-20) and BNB Smart Chain (BEP-20), and since September 2025 is being migrated to serve as the native gas and governance token of Morph, an Ethereum Layer-2 network.
What blockchain is BGB on?
BGB's canonical contract is on Ethereum (ERC-20), deployed 2024-06-25, with parallel issuance on BNB Smart Chain (BEP-20). Following a September 2025 partnership with Morph, an Ethereum Layer-2 network, BGB tokens are increasingly migrated there to function as Morph's native gas and governance token.
What is BGB's total supply?
BGB's effective total supply is approximately 910.9 million tokens as of 2026-08-31, reduced from an original 2 billion through burns, including an 800 million burn in December 2024 and a 220 million burn in September 2025. Circulating supply is roughly 698-700 million tokens.
Is BGB inflationary or deflationary?
BGB is deflationary. Since 2025, Bitget allocates 20% of profits from the Bitget Exchange and Bitget Wallet to quarterly buybacks and burns, and Bitget-controlled tokens are being burned as part of the September 2025 Morph Foundation handover, steadily reducing total supply rather than issuing new tokens.
Who controls BGB's governance?
Since September 2025, governance sits primarily with the Morph Foundation, a nonprofit that received Bitget's full 440 million BGB holding and is now responsible for BGB's roadmap and burn mechanism. Individual token holders do not vote on decisions directly under this structure.
What can BGB be used for?
BGB holders can stake it through Bitget Wallet at a fixed 5% annual yield, use it for multi-chain gas payments via GetGas, spend it through Bitget Card and PayFi integrations, and, as migration progresses, use it as the native gas token on Morph L2.
Has BGB been audited?
CertiK audited BGB's contract in August 2023, giving it a Skynet score of 87.02 ("AA" rating). The audit found one unresolved Major centralization/privilege issue and four resolved informational issues, with no critical or medium-severity findings. Holder concentration remains a structural risk, with the top 10 Ethereum addresses controlling 87% of supply.
Who founded Bitget, the exchange behind BGB?
Bitget is a centralized cryptocurrency exchange founded in 2018. Gracy Chen has served as CEO since May 2024, after joining as Managing Director in April 2022 and working previously as a financial TV anchor at Phoenix TV; other named leadership includes COO Vugar Usi Zade and Chief Legal Officer Hon Ng.
