Bitget Boosts Daily Rewards on Yield-Bearing BGBTC Token

Bitget has upgraded its yield-bearing Bitcoin token, BGBTC, to offer daily rewards in BTC. The upgrade stays true to the token's one-to-one backing by Bitcoin and introduces faster redemption for large orders. Cross-chain transfers are now handled through Chainlink infrastructure.

The addition of Gauntlet as an independent Curator framework oversees strategy decisions without compromising custody of assets. This setup separates risk management from asset management, providing a more efficient way to make BTC productive.

Gracy Chen, Bitget's CEO, sees capital efficiency as a defining theme in digital asset markets, and the upgrade is part of this vision. The exchange has been working on yield products, including USDGO Holderyield, and aims to connect centralized and decentralized finance through infrastructure upgrades with Morph and Chainlink.

Bitget emphasized additional risk controls and disclosures in the upgrade, ensuring a more transparent experience for BGBTC holders.