Bitget Unveils Major BGBTC Upgrade with Daily BTC Rewards and Enhanced Security

Bitget has unveiled an upgrade to its yield-enhanced asset, BGBTC. This asset is pegged to Bitcoin at a 1:1 ratio and offers daily BTC rewards for holders. The new upgrade also introduces fast redemption at scale, large-volume trading, and institutional-grade risk protection.

The integration of Chainlink's Cross-Chain Interoperability Protocol (CCIP) ensures secure multi-chain distribution of the token. This comes on top of Bitget's existing Chainlink Proof of Reserve (PoR), which is used for asset verification. The upgrade aims to make BGBTC more credible, useful across blockchains, and portable for traders.

Gauntlet has been appointed as BGBTC's independent Curator to supervise its yield strategies. This infrastructure will oversee the underlying yield strategies and help improve portfolio monitoring, risk management, and ensure the sustainability of long-term yield rewards for holders.