BGG — The power to redefine the blockchain industry & Token Tank Bgogo Video
Team Members
CEO Maximilian Wang
Former software engineer at Facebook, and also the former founder of Facebook’s crypto syndicate. He holds a Master’s degree in Computer Science from UCSD. He is also a senior blockchain researcher, influencer and advisor. He helped and directed several popular blockchain projects in Silicon Valley such as QuarkChain.
CTO, Nicolas Chen
Formerly worked in Facebook’s U.S. headquarters and was responsible for maintaining the network security of 2 billion Facebook, WhatsApp, and Instagram users.
COO, Oscar Song
Former operations chief of Huobi and founding team member of Gukebao. Oscar holds a Bachelor’s degree in Finance from Renmin University of China.
CSO, Ciara Sun
Formerly worked at Boston Consulting Group, Deloitte Advisory, has rich work experiences in financial analysis, strategic consulting and corporate management experiences.
Bgogo’s core team consists of 35 members with backgrounds in Facebook, Microsoft, Alibaba, Twitter and Boston Consulting Group in various locations such as Silicon Valley, Hong Kong and Singapore
What is BGG?
BGG is the token issued by Bgogo platform which is the proof of stake for the trading infrastructure. The upper limit amount of BGG is 10 billion without additional public offering. BGG will reward active users with trade mining. Also, under the exclusive “self-governance” mode, each supernode has the full discretion to list one cryptocurrency.
Token Distribution Breakdown
BGG token distribution ratio
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.
Negative trading fees
50% of total platform token BGG will be used to reward users where users will get trading fees back in the equal amount of BGG. Users will receive 105% high-frequency trading fee return every 30 minutes as a reward.
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, totaling 10,500 ETH for all 21 supernodes. The rest 4,500 ETH is raised from strategic investors as well as ecosystem partners.
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.
BGG mining mechanism
What is Bgogo supernode?
BGG supernodes
BGG token are privately funded by 21 top-tier blockchain organizations around the world. They will take up to the post of the first super nodes.
The rights of supernodes
1. The tenure of each supernode is one quarter. Within the period, each supernode is entitled to “one vote to list”, in other words, the full discretion to list one candidate in a global context. Supernodes must lock the positions of BGG within the tenure (90 days).
2. “Commissions”. 20% of the transaction fees generated by the successful candidate will return to the supernode during the candidate’s listing period.
How to become a supernode?
After the end of each quarter, new super nodes will be generated according to BGG’s position ranking. Bgogo team will conduct strict KYC qualification review on the candidates.
The first-generation of supernodes includes 21 top-tier blockchain organizations around the world.
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.
How to obtain BGG?
- Mining: trading on BGG is considered as mining, i.e. 105% trading fee return.
Let explain about Mining through Trading
Mineable BGG tokens (50% of total supply) will be reserved for users in the form of high-frequency trading fee rebates, commonly 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. Bgogo reserves the right to adjust 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.
2. Purchasing: users can obtain BGG by exchanging.
23th July 2018 Token Tank Presents: BGOGO
UID: 1406516648
Website: https://bgogo.com/
Website: https://bgogo.com/
Telegram Community: https://t.me/Bgogo
Whitepaper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf