Bitget Bolsters BGBTC with Daily Rewards and Chainlink Upgrade

Bitget has revamped its yield-bearing Bitcoin token, BGBTC, to provide daily rewards in BTC. The upgrade maintains the one-to-one backing of BGBTC by Bitcoin and introduces a new system for distributing daily rewards. Holders can now post BGBTC as futures margin or lending collateral and commit it to Launchpool and PoolX.

The exchange has shifted cross-chain transfers to Chainlink's Cross-Chain Interoperability Protocol, building on its earlier use of Chainlink Proof of Reserve. This upgrade aims to make the token more productive by enabling users to generate daily returns while maintaining custody control.

Bitget has also introduced an independent Curator framework, naming Gauntlet as the curator for BGBTC strategies. This setup separates strategy decisions from asset custody, increasing capital efficiency in digital asset markets.