Cryptocurrency exchange Bitget has announced the transfer of all its BGB tokens to the Morph Foundation, which will open new opportunities for their use and development.
Transfer of BGB Tokens to Morph Foundation
Bitget will transfer all controlled BGB tokens—440 million in total—to the Morph Foundation. Of this allocation, 220 million BGB will be burned immediately while the remaining 220 million will be locked and gradually released to support ecosystem growth. BGB will serve as the gas and governance token of Morph.
Development of the Morph Ecosystem
Morph will maintain its branding and strategic direction as a Layer 2 focused on crypto payments. The company representatives expect the new ecosystem to enhance not only cost efficiency but also significantly improve consumer finance capabilities and integration with other financial instruments.
Future Plans
The Morph Foundation will be responsible for the long-term development of BGB and its burning mechanism, which will be linked directly to Morph's network activity. Over the next year, the migration of BGB tokens to the Morph platform is expected to accelerate, providing users with new opportunities.
The partnership between Bitget and Morph opens new horizons for BGB tokens, making them an important component in the development of decentralized financial solutions.
