Idea & Token
An ordinary cryptocurrency exchange defines which crypto assets will be listed on the exchange on its own. Bgogo has decided to change it. It is a cryptocurrency exchange that shared the authority with its own community. The idea is based on supernodes that have one vote that can be used to:
– List one crypto asset on the exchange
– Get 20% per-trade commission for the listing
Now what is a supernode. Supernode is one of the biggest holders of BGG tokens. Every quarter supernodes are selected among top 21 holders and controlled by Bgogo. After a supernode is selected, it cannot spend its BGG stake. The current list of supernodes looks really serious and includes Hashed, ICODrops, Signum Capital, Dfund, and other names from crypto world (see the full list at the website).
Serving as a proof of stake, BGG will be freely traded. The token will be used for rewards for active traders (they will get 105% of their cumulative trading fees every 30 minutes). Bgogo buys back all trading fees on a daily basis and then burn them on a public burn address. To be included into the whitelist, you will have to take part in the BGG Proof of Care contest (see details at the website). A total supply is 10 billion tokens. The token distribution is as follows: 50% – mining rewards, 20% – team, 20% – development, 10% – first supernodes and strategic investors.
The team consists of 35 members and seems like has everything needed for a successful launch – solid experience of work at Microsoft, Facebook, Twitter, Alibaba, as well as biggest exchanges, including digital ones. The project CEO Maximilian Wang previously worked for Facebook as a software engineer and founded Facebook’s crypto syndicate. The team hasn’t provided any info about advisors.
From the first glance Bgogo is just yet another crypto exchange. But what makes them different is their decision to give each supernode a privilege to add a crypto asset to the exchange. The current situation shows that the idea works. Serious projects from crypto world bought 30+ million BGG tokens (500 ETH equivalent) each to become a supernode. The team is excellent, hype is more than enough. Even considering slightly complex public sale scheme, the project is really promising.
What if you could add a crypto asset of your choice to the crypto exchange? Big crypto industry players like the idea.
Bgogo ICO datesexport to calend
Bgogo aspires to be the cryptocurrency exchange of the community, by the community, for the community. It is the first digital asset exchange featuring supernode listing authority, designed to list the most high-quality and promising digital assets.
Bgogo founders include members from leading Internet companies, such as Facebook, Twitter, IBM, Alibaba, etc. The core engineering team consists of several world champions of the ACM International Collegiate Programming Contest.
Bgogo has recently completed a total of $10 million in Pre-A and A round fundraising. Investors include well-known venture capitals, such as Node Capital, Sky9 Capital, Goopal Digital, and Hike Capital.