PANews reported on May 12 that TokenInsight recently released a rating report on Bitget's platform currency BGB (Bitget Token). The report shows that BGB was rated A with a rating outlook of "stable outlook", reflecting its comprehensive performance in technical architecture, security mechanism, token model and ecological construction.
The report points out that BGB, as the core token of the Bitget ecosystem, has currently covered exchange business and Web3 application scenarios, and plays a role in multiple sectors such as handling fee deduction, airdrop participation, and Launchpad. Since the end of 2024, Bitget has launched a token destruction mechanism, and the number of destruction is linked to the on-chain Gas consumption. The relevant data can be publicly checked on the chain, providing transparent protection for the token deflation model.
In terms of security, Bitget publishes proof of reserves every month and has a protection fund with a current size of over $600 million. At the same time, the BGB smart contract has passed the CertiK audit and its security has been recognized.
In addition, TokenInsight pointed out that Bitget has continued to build the Web3 ecosystem in recent years, launched the on-chain product Onchain, and established localized communities in multiple markets around the world. Currently, the market value of BGB has exceeded US$5.6 billion, ranking 26th among CoinMarketCap's global crypto assets.
