VICTORIA, Seychelles, January 17, 2025 (GLOBE NEWSWIRE) — BitgetLeading cryptocurrency exchange and company Web3 has added its native Bitget Token (BGB) to a liquidity pool on Uniswap, a leading decentralized exchange. This strategic move allows users to trade BGB directly on the Ethereum blockchain, improving its accessibility within the decentralized finance (DeFi) ecosystem.
Uniswap operates on an automated market maker (AMM) model, using liquidity pools to facilitate token trading without relying on traditional order books. In this system, liquidity providers contribute token pairs to pools, allowing traders to execute trades based on the ratio of available tokens. This mechanism ensures continuous liquidity and efficient price discovery.
The integration of BGB into Uniswap’s liquidity pools demonstrates Bitget’s efforts to expand the token’s utility beyond its centralized platform. By enabling on-chain trading, BGB holders can now engage in decentralized transactions, aligning with the broader trend towards DeFi solutions.
This development follows Bitget’s recent strategic initiatives aimed at improving the value and utility of BGB. On December 30, 2024, Bitget completed its first-ever token burn, permanently removing 800 million BGB from circulation, reducing the total supply by 40%. This action was intended to increase the scarcity and long-term value of the token.
Looking ahead, Bitget plans to implement a quarterly BGB burning mechanism starting in 2025. Under this plan, 20% of quarterly profits from exchange and wallet operations will be allocated to redemption and burning of BGB tokens. This approach highlights Bitget’s strategy to create a sustainable and impactful token economy for BGB.
The addition of BGB to Uniswap’s liquidity pools expands trading opportunities and integrates BGB into the broader DeFi landscape. The move is expected to attract a diverse group of users looking for decentralized trading options, furthering the growth and adoption of BGB within the crypto community.
Bitget’s integration of BGB into Uniswap’s liquidity pools represents an important step in improving the utility and accessibility of the token. Coupled with strategic initiatives such as token burning and profit allocation for redemptions, Bitget is actively working to strengthen the BGB ecosystem and its position in the decentralized finance sector.
To view the BGB liquidity pool on Uniswap, please visit here.
About Bitget
Created in 2018, Bitget is the world leader cryptocurrency exchange and the Web3 company. Serving over 45 million users in over 150 countries and regions, Bitget exchange is committed to helping users trade smarter with its pioneering copy trading functionality and other trading solutions, while providing real-time access to Bitcoin Price, Ethereum Priceand other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers a full range of Web3 solutions and features, including Wallet Functionality, Token Swap, NFT Marketplace, DApp Browser, and more.
Bitget is at the forefront of crypto adoption through strategic partnerships, such as its role as the official crypto partner of the world’s top soccer league, LALIGAin EAST, SEA and LATAM markets, as well as a global partner of Turkish national athletes Buzzard Tosun Çavuşoğlu (World wrestling champion), Samet Gümüş (gold medalist in boxing) and Ilkin Aydın (National Volleyball Team), to inspire the global community to embrace the future of cryptocurrency.
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