Bitget Boosts Daily Rewards on Yield-Bearing BGBTC Token

Bitget has upgraded its yield-bearing Bitcoin token, BGBTC, to offer daily rewards and improved cross-chain transfers. The upgrade keeps BGBTC backed one-to-one by Bitcoin and now pays out rewards in BTC every day.

The exchange has also introduced faster redemption for large orders and added risk controls and disclosures. BGBTC holders can use the token as futures margin or lending collateral, or commit it to Launchpool and PoolX.

Bitget has partnered with Chainlink's Cross-Chain Interoperability Protocol to facilitate cross-chain transfers of BGBTC. Gauntlet, a quantitative risk firm, will oversee the strategies behind the token through an independent Curator framework.