The world of cryptocurrency keeps booming daily, your first step into this world may likely occur through an exchange. Every crypto-exchange has their unique features which set them apart, however there are exchanges that are more superior to the other. BGOGO a digital asset exchange with superior features is setting the pace.
Let me tell the BGOGO story!
BGOGO is a digital trading platform with its own token called BGG. The BGOGO team comprises of a team of elites, the founders include members from leading Internet companies such as Facebook, Twitter, IBM, Alibaba, etc. The core engineering team consists of several world champions of the ACM International Collegiate Programming Contest.
Lead by Maximillian Wang, previously software engineer at Facebook and advisor/investor to several blockchain projects including Quarkchain, the bgogo team was able to raised $ 10 million in the recently completed Pre-A and A round fundraising. Investors include well-known venture capitals such as Node Capital, Sky9 Capital, Goopal Digital, and Hike Capital
What sets BGOGO apart!
As an investors there is a need to compare project against industry leaders. This should give one the insight on the value of such project. Bgogo is the first digital asset exchange featuring supernode listing authority, designed to list the most high-quality and promising digital assets. BGOGO token BGG can be earned as a trading fee rebate; that’s to say one can earn BGG when one trades on the platform. 50% of the tokens are refunded to those who carry out transactions on the platform. Bgogo also performs a daily buyback of BGG tokens creating scarcity hence an increase in the value of the token.
Bgogo Super Nodes
Bgogo is the first digital asset exchange featuring supernode listing authority, designed to list the most high-quality and promising digital assets. Supernodes are high performance blockchain server which are used to confirm transactions. 10% of BGG supply was sold to 21 companies (Token Investors), these individuals will be the first 21 supernodes on the platform. The next 21 richest accounts become supernodes; since the opportunity to get a supernode is limited token dumps may hardly occur giving rise to a more stable price.
What does being a supernode operator entails
- They will receive 20% of the trading fees incurred for the token they listed.
- Ability to list one coin during their tenure (‘One Vote, One Listing’).
- They will have their tokens locked during their tenure.
- Supernodes are elected based on their daily balance.
- The Tenure lasts for 90 days.
The Bgogo mining system
As the world progress new ideas are generated, BGOGO emerged to set the pace where other ideas have failed. Many tokens have been created in the cryptosphere, however exchange token and trading was made popular by binance. An exchange which allows its user to carry out transaction at a reduced cost using its native token known as BNB. However this token are not mineable, but are burnt to reduce circulation. Fcoin emerged with the transaction mining, this idea was not sustainable in the long run because unknown token where listed, clogging the Ethereum network.
Leveraging on these ideas BGOGO progress to create its platform using another approach THE SUPERNODE and trans-mining. Having a supernode gives investors the right to vote and list a token, however this token must be thoroughly scrutinized to avoid listing of malicious or ponzi scheme at the expense of the community. As a supernode owner there are many benefits attached, however each token own by a supernode is locked up for that period of ownership.
Cryptocurrency mining includes two functions, namely: adding transactions to the blockchain (securing and verifying) and also releasing new currency. BGOGO Trans-mining means that all fees incurred on the exchange will be repaid in the form of new exchange tokens this will progress until all token are created. One gets at least 100% rebate while trading. How does this happen BGOGO will perform daily buybacks using 100% of the trading commissions accumulated to repurchase BGG. However the amount of tokens mined daily are limited to $1m worth of BGG token daily.
This approach applied by bgogo will ensure that the platform is smoothly run. This approach gives it more added advantage over other exchanges.
Is The Bgogo Project Going To Be Exciting?
Sure! This is one of the most promising project out there:
- All star team