Bitget Introduces Daily Bitcoin Rewards to BGBTC Asset
Bitget has introduced daily Bitcoin rewards to its BGBTC asset, allowing users to earn yield without selling their underlying exposure. The upgrade maintains a 1:1 peg with Bitcoin and introduces support for large-volume and faster redemptions.
The exchange selected Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the canonical infrastructure for distributing BGBTC across multiple blockchain networks. This integration could allow holders to access decentralized applications and financial services outside Bitget's centralized platform while retaining exposure to the Bitcoin-backed token.
Gauntlet has been appointed as BGBTC's independent curator, overseeing the strategies used to generate rewards for holders. The company aims to support the long-term sustainability of BGBTC's yield rather than relying on unmanaged set of strategies.