Since Bgogo exchange was founded last year, with some major players involved in its launch. Pantera Capital, the largest cryptocurrency fund in the world is one of their investors, together with the highly recognized organization Signum, as well as SKY9 Capital, and popular VCs like Genesis Capital and Node Capital. Bgogo developed the decentralized model of governance of an exchange that is centralized, tempting Supernodes to join the community governance of the exchange.
Bitcoin prices have recovered from a bear market, stabilizing around $12,000 per BTC. Because of this, crypto exchanges are getting busy again. Biki and MXC have both been recognized for their own platform tokens that made the 100X legends.
Surviving the bear market, and with the introduction in the bull market, Bgogo is bullish about the current condition of the market, not to mention the Facebook’s announcement of Libra, their new currency. With this significant chance, since we were a Facebook veteran, our target is to be a tier one exchange before the year ends.
The main reasons why we think we can hit this target are: Primarily, we have the funds; since we have increased equity for two rounds, we also gathered strength during the winter. Next, we have a team of wonderful people from the leading financial institutions and internet companies like Facebook. Lastly, Bgogo has acquired resources from globally illustrious investment organizations namely Pantera, Node Capital, Signum and our users. All of this made us very confident about achieving our goal.
Our platform token’s institutional investors’ positions from the Supernode list are all self-evident, and can be seen on the official Bgogo website. The user base of Bgogo has increased by over 200,000 users with confirmed fund deposits, and because of our active commitment with the community and regularly improving our user experience, we became a recognized international brand.
Until now we haven’t just been establishing our hard power, we have also been very serious on growing our soft power. Bgogo has always been sincere about the users, and has attentively been making a mutually beneficial environment for Bgogo and each and every user. Our core value is to not trespass on the interests of the users and we have the objective to share, and to control a beneficial result with the community together with our users.
The team at Bgogo believes that exchanges in the future will be the same as brokers in the stock market now, as well as the trading assets. The market transactions’ focus will be the mainstream currencies as product of gold and silver for a very long time. Regarding this, Bgogo has recently presented a cross-exchange hedging algorithm that completely improves the depth of the orderbook of mainstream currencies like BTC, XRP, ETH, BCH and LTC. This starts an “equivalency with Binance” trading depth. The demands of our users’ mainstream trading are satisfied by Bgogo by doing it this way.
The company started the Buzz-Bgogo initiative, where it asked more than 500 KOL and influencers to come to our trading platform to make a fresh push channel that has Bloomberg-like content.
Bgogo plans to push the information where users put more of their attention based on the holding position of each user and transaction history, same as Tiktok. Like, when a user trades or holds a lot of LTCs, LTC related information will be pushed to the user. Bgogo plans to make a full one-stop trading experience, where users can get information and learn about the media platform, and then move to the trading section to start making trades. This has not been done on other platforms.
The functions that were mentioned, media feed and order-book depth, will definitely help make the users stay. However, just these two won’t be able to fix user growth problems. The last action we are planning to take, which is very important to the growth of the users, is our “ambassador program”, the first of its kind which is created in revolutionizing the blockchain industry.
Here is how the ambassador program works. The users can become an ambassador if they purchase a value of 500 USDT of BGG platform tokens, which will benefit them by getting returns of up to 14% per year. If the other users join through the referral code provided by the ambassador, they can earn up to 11% from primary referees, and 5% from secondary referees, both from the total participation amounts of the two levels. By using the community-based e-commerce’s fully developed cross-industry approach, we can get inactive users to life in the world of crypto as well as potential users. In the past, the referral program we used only shared a percentage of trading fees with upper layer, although the trading fee of the trading volume is only at 0.1%. At this time, the reward is 16% of the principle – the total amount of purchased BGG by referred users. Therefore, we ask everyone with community influence and have their own groups. We call for everyone who have community influence or skills to join us. People who can introduce these community influencers and leaders to us will also be rewarded.
The Ambassador Program’s core is to organize our users and community closely, so that users in the community can be representatives for the promotion of the platform. What is being returned by the traditional rebates to the ambassador is only the percentage of the referees’ transaction fee. Nonetheless, the ambassador program returns the percentage of the purchased BGG platform token by the secondary market, which is about 10 times or even hundreds of times the typical rebate incentives. This initiative makes our trump card for a larger user base. We have a total of 50 terms for this program, planned to be completed after two years. All ambassador purchases can only be fulfilled in the secondary market, and extra tokens can’t be sold separately by the team or the platform. Our target is to have 100,000 BGG Ambassadors in the first year.
The crypto circle’s major exchanges are still not certain, where it is very hard for first-tier exchanges keep safe with new ones coming out.
Right now, the BGG token market value is close to $9 million. In comparison to other exchanges, which ranges from $29 million for Bibox to $1.9 billion for BNB. Since there is a lot of room for growth, BGG will be 100X.
What is BGG?
BGG is a proof-of-stake (POS) token issued by Bgogo platform which is the proof of stake for the trading infrastructure. The model rewards active users with extra coins, as expected with a POS algorithm. Also, under the exclusive “self-governance” mode, each supernode may list one cryptocurrency.
There are 21 BGG supernodes, selected from international cryptocurrency institutions that take part in the BGG token private sale. Each supernode is granted the “One Vote, One Listing” right as well as the benefit of “20% Per-Trade Commission Share” over its lifetime.
Each supernode lasts just one quarter, or about three months. At that point, they must be re-elected based on the mechanism utilized by the coin. Supernodes must pass KYC verification and a manual regulatory review.
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