PANews reported on May 12 that TokenInsight recently released a rating report for Bitget's platform token BGB (Bitget Token). The report shows that BGB is rated as A, with a rating outlook of 'Stable Outlook', reflecting its comprehensive performance in technical architecture, security mechanisms, token model, and ecosystem development.
The report points out that BGB, as the core token of the Bitget ecosystem, currently covers exchange business and Web3 application scenarios, playing a role in various sectors such as fee discounts, airdrop participation, and Launchpad. Starting from the end of 2024, Bitget has initiated a token burn mechanism, with the amount burned linked to on-chain Gas consumption, and the relevant data can be publicly verified on-chain, providing transparent assurance for the token deflation model.
On the security front, Bitget publishes proof of reserves every month and has a protection fund with a current scale of over 600 million USD. At the same time, the BGB smart contract has been audited by CertiK, confirming its security.
In addition, TokenInsight pointed out that Bitget has been continuously laying out its Web3 ecosystem in recent years, launching the on-chain product Onchain, and establishing localized communities in multiple markets worldwide. Currently, BGB's market capitalization has exceeded 5.6 billion USD, ranking 26th among global cryptocurrencies on CoinMarketCap.