Bitget Enhances BGBTC with Daily BTC Rewards and Cross-Chain Transfer Capabilities

Bitget has enhanced its Bitcoin-backed token BGBTC by introducing daily Bitcoin-denominated rewards for holders. This upgrade enables users to earn yield without selling their Bitcoin exposure, offering a way to profit from holding Bitcoin without having to liquidate it.

The upgrade includes cross-chain transfer capabilities via Chainlink's Cross-Chain Interoperability Protocol (CCIP), allowing BGBTC to move across multiple blockchains and access decentralized applications outside Bitget's platform. This will provide more utility for BGBTC holders, as well as transparency in the form of faster redemption options.

Gauntlet will independently oversee the asset's yield strategies to ensure risk management and sustainability. While specific reward rates and supported networks have not been fully disclosed yet, this upgrade aims to improve the overall user experience for Bitget's BGBTC holders.