For the industry, this is a reshaping of the landscape; for BGB holders, this is a rekindling of value imagination.

In the development history of the cryptocurrency industry, every infrastructure upgrade signifies a reshaping of the landscape. BNB Chain once became a giant in the public chain arena, bolstered by Binance's users and ecosystem. Now, Bitget has officially announced its partnership with the Morph public chain, which focuses on payments and on-chain consumer finance, incorporating it into its strategic framework. This means that Bitget will not just be an exchange or wallet service provider, but will extend its reach to the public chain layer, building a "trinity system" of "exchange + wallet + public chain." For BGB, this undoubtedly represents a historic leap.

BGB's New On-Chain Chapter

Since its issuance in 2021, BGB has served as the exclusive platform token for Bitget Exchange and Bitget Wallet, with application scenarios focused on fee discounts, platform activities, and rights unlocking. However, this positioning also limited its growth potential. The deep integration with Morph has completely transformed BGB's value logic.

According to the announcement, Bitget will transfer all 440 million BGB controlled by the team to the Morph Foundation, with half, or 220 million, being directly burned. This action is equivalent to completing the total amount of destruction for about seven future quarters in advance, directly strengthening BGB's deflationary attributes. The remaining 220 million will be locked and gradually released at a rate of 2% per month to support ecological incentives, application scenario expansion, and education and popularization on the Morph chain, while also alleviating selling pressure. Meanwhile, the Morph Foundation will fully take over the development roadmap of BGB, granting it dual identities as a Gas token and a governance token. In this new role, BGB will not just be an internal token tool but will truly become an indispensable core asset for on-chain operation and governance.

Morph's Transformation

For Morph, this collaboration is also a qualitative leap. As an EVM-compatible payment Layer 2, Morph will continue to maintain its original brand, team, and strategic direction, while also undergoing a large-scale technical upgrade. In the future, Morph's throughput and Gas fee levels will be significantly optimized, aiming to enter the top five global public chains, providing a more solid technical foundation for the widespread implementation of payments and on-chain consumer finance. More importantly, the 120 million users of Bitget and Bitget Wallet will directly access the Morph ecosystem, injecting strong momentum into its cold start and scaled development.

Additionally, Bitget has cultivated good cooperative relationships with major project parties, investment institutions, and developer alliances over the years in the industry. Bringing these resources into the Morph public chain can greatly enrich the selection of stablecoins and payment channels within the ecosystem, paving the way for PayFi solutions.

Lessons from BNB: From Platform Token to Ecological Engine

The development trajectory of BNB provides the most intuitive reference. BNB was issued as the Binance platform token in 2017, with a price of only a few cents; after upgrading to the core asset of BNB Chain in 2019, the narrative was completely reshaped. While bearing Gas fees and ecological governance on-chain, BNB was rapidly introduced to Binance's vast user base. As the ecosystem expanded, BNB once broke through $690 during the 2021 bull market, increasing over a thousand times from its issuance price, with its market capitalization firmly in the top five globally.

In addition to price growth, the BNB Chain ecosystem also achieved exponential expansion. Today, its on-chain DEX PancakeSwap has become one of the largest decentralized exchanges in terms of trading volume globally, with applications in DeFi, GameFi, and NFTs flourishing, maintaining a daily trading volume consistently above Ethereum. It can be said that BNB has grown from "a platform token" to "an ecological engine," almost redefining the concept of exchange public chains.

BGB's Value Imagination

Today's BGB stands at a similar starting point to that of BNB back in the day. The difference is that the collaboration between BGB and Morph comes with a clearer destruction mechanism, a more defined payment scenario positioning, and a more open governance plan from the outset. This allows BGB's growth logic to potentially be faster and more direct than that of BNB back then. As it gradually becomes Morph's Gas token, governance token, and payment fuel, BGB not only possesses scarcity but also carries actual usage demand.

More importantly, BGB will become a core driving force for on-chain payments and settlements alongside stablecoins. As PayFi scenarios gradually penetrate daily life, whether through crypto cards, online payments, or QR code payments, BGB has the opportunity to truly enter users' daily consumption. This also means that its value is not limited to "exchange platform tokens," but is evolving towards a higher dimension as a "global payment gateway" and "fuel for Web3 financial infrastructure."

The success of BNB Chain has allowed the world to witness the power of exchange public chains. Now, the combination of Bitget and Morph is opening a new upward channel for BGB. The comprehensive layout from exchange, wallet to public chain makes Bitget the second-largest exchange public chain player after Binance. For the industry, this is a reshaping of the landscape; for BGB holders, this is a rekindling of value imagination.

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