Bitget Boosts BGBTC Rewards with Daily BTC Payouts

Bitget has upgraded its yield-bearing Bitcoin token BGBTC, adding daily rewards and shifting cross-chain transfers to Chainlink infrastructure.

The upgrade ensures that holders of BGBTC receive rewards in BTC every day. Bitget also claims faster redemption on large orders and added risk controls and disclosures with the change.

Holders can use BGBTC as futures margin or lending collateral, and commit it to Launchpool and PoolX, according to the company.

Bitget has named Chainlink's Cross-Chain Interoperability Protocol its standard rail for moving the token between networks. This follows earlier use of Chainlink Proof of Reserve.