Bgogo - An Upcoming Digital asset Exchange with super-node listing authority and trade Mining

kt08 (25)in #blockchain • 6 years ago

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Bgogo is the first digital asset exchange with supernode listing authority, designed to list the most high quality and promising digital assets. Bgogo Exchange founding members have huge experience in major companies such as Facebook, Twitter, IBM, Alibaba, etc. and its aim is to offer a transparent and affordable alternative to the contemporary digital exchanges that are dominating the market with high fees. Founded by its CEO Ms. Amber Cheung, this alternative exchange platform is backed by her 12 years of experience in asset management, private equity and investment management. Amber has held senior management positions in several well-known financial institutions and public companies in both Hong Kong and mainland China.
How is Bgogo Different from all the other exchanges ?
Bgogo is the first digital asset exchange platform featuring supernodes as a listing authority. Each supernode is granted the "One Vote, One Listing" privilege, which gives status holders the right to pick a cryptocurrency to list on the Bgogo trading platform during its tenure. In addition, each supernode is entitled to the benefit of "20% Per-Trade Commission Share", where 20% of the commission generated over a lifetime from trading the cryptocurrency the supernode nominates will be paid to it.
Bgogo will also provide a high-frequency trading fee rebate (also known as mining through trading). A number of BGG tokens equivalent to 105% of the trading fee will be rebated to the user in only 30 minutes after the trade. This implies that user will be effectively paying a negative trading fee using the platform.
Bgogo will also use 100 percent of the trading commision to repurchase BGG daily, which provides a constant price support. The buyback tokens will be sent to a burn address made public to ensure transparency.
BGG Token
Bgogo is about to launch their own platform token named as BGG. With the launch of this game-changing token, traders who carry out exchanges on Bgogo's platform will be rewarded even for smallest actions.
Unlike other trading platforms that hardly reward their traders for anything, Bgogo will reward their traders with three things:
The first reward that is a complete game changer is the negative fee on every transaction. The traders will get BGG tokens for the equivalent of their transaction fee within 30 minutes.
The Second Reward is that the BGG Supernodes will be granted Sole Listing Authority (voting rights for new token listing) and Share 20% of the trading fees.
Every 24 hours Bgogo will use all of the trading fees accumulated from a trader to repurchase BGG tokens.

There is a total fixed number of 10,000,000,000 BGG that will ever be created.

Token Distribution Breakdown
50% (5 billion) will be mineable by users through trading
20% (2 billion) will be reserved for ecosystem developments and Bgogo daily operations
20% (2 billion) will be reserved for the team
10% (1 billion) will be allocated among the first generation of supernodes and strategic investors.

Token Sale
10% of the total supply (1 billion BGG tokens) will be sold for 15,000 ETH to the founding generation of supernodes as well as strategic partners during the private sale. The private sale price is 1 BGG = 0.000015 ETH. Each supernode is granted an allocation of 500 ETH, totalling 10,500 ETH for all 21 supernodes. The rest 4,500 ETH is raised from strategic investors as well as ecosystem partners.

Mining through Trading
Mineable BGG tokens (50% of total supply) will be reversed to users in the form of trading fee rebates, commonly known as mining through trading. A number of BGG tokens equivalent to 105% of the trading fee will be returned to user in only 30 minutes after the trade. Bgogo reserves the right to make adjustments to the rebate rate as we grow, but we promise to maintain a minimum rebate of 100%. The price of BGG will be determined by the market price at the time when a trade is finalized.

BGG Token Buyback
Every 24 hours, Bgogo will use 100% of the trading commision accumulated to repurchase BGG. The buyback tokens will be sent to a burn address made public.
Bgogo supernodes
There are 21 BGG supernodes. The founding generation of supernodes are selected from leading cryptocurrency institutions across the globe. These entities will participate in the BGG token private sale. Playing a key role in the Bgogo ecosystem, each supernode is granted the "One Vote, One Listing" right as well as the benefit of "20% Per-Trade Commission" over lifetime.
The privileges that supernodes have are as follow:
Have the "One Vote, One Listing": Each supernode owns the authority to nominate a cryptocurrency which is legally qualified and agreed by the team to be listed on Bgogo exchange. In case more than one supernode choose the same cryptocurrency, the project team will decide which supernode can nominate them. This means during each tenure of a quarter, 21 coins picked by supernodes are listed.
20% per trade commission: When the nominated cryptocurrency is traded on the platform, 20% of the trading fee that users paid to trade it is given to the supernode who has picked the coin to be listed on BGG exchange.

The first-generation of supernodes includes 21 top-tier blockchain organizations around the world that invested in Bgogo exchange.

Investors
Bgogo has recently completed it's seed round. Investors include Top Tier venture capitals such as DHVC , BlockWater Capital, Pantera Capital etc

Competition
Yes, you're right there are so many exchanges out there working on similar model of trade mining so how will Bgogo stand out. I'll answer this with the following quote.
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If you look at the team you'll know what I'm trying to say.The team is working hard for there Genesis mining Event and my best wishes are with them. Hope they do very well in this competitive market.