Bitget Unveils Daily Bitcoin Rewards for BGBTC Holders

Bitget has upgraded its yield-bearing Bitcoin token, BGBTC, to provide daily rewards for holders. The upgrade keeps BGBTC backed one-to-one by BTC and now pays out daily in Bitcoin. Holders can use BGBTC as futures margin or lending collateral, commit it to Launchpool and PoolX, or redeem it quickly on large orders.

Bitget has partnered with Chainlink for the upgrade, using its Cross-Chain Interoperability Protocol for cross-chain transfers. This replaces Bitget's earlier use of Chainlink Proof of Reserve. The company also introduced an independent Curator framework to oversee strategies behind BGBTC, naming Gauntlet as the curator.

Bitget CEO Gracy Chen said 'The next stage isn't simply holding Bitcoin, it's making it productive.' This aligns with Bitget's plan to connect centralized and decentralized finance through its infrastructure partnerships. The upgrade is part of a run of yield products at Bitget, which has also worked with Morph on other projects.