Bitget Boosts Daily Rewards for BGBTC Token

Bitget has enhanced its yield-bearing Bitcoin token, BGBTC, to provide daily rewards to holders. The upgrade keeps the token backed one-to-one by Bitcoin and now distributes BTC-denominated rewards on a daily basis.

The exchange also promises faster redemption for large orders with the change. Additional risk controls and disclosures have been added as part of the update.

Holders can use BGBTC as futures margin or lending collateral, and commit it to Launchpool and PoolX, according to Bitget. The company has named Chainlink's Cross-Chain Interoperability Protocol its standard rail for moving the token between networks.

Bitget has also introduced an independent Curator framework, naming Gauntlet, a quantitative risk firm known for its work in decentralized finance, as its curator.