Bitget Transfers BGB Tokens to Fuel Morph L2 Chain Growth

Crypto exchange Bitget has taken a significant step by transferring 440 million of its native BGB tokens to the Morph Foundation. This move serves as the foundation for the development of Morph Chain, a new Layer 2 network focused on Real-World Assets (RWA). The transfer will see 220 million BGB tokens burned immediately, with the remaining 220 million locked and gradually released at a rate of 2% per month to fuel ongoing ecosystem growth. This strategic move aims to solidify BGB’s role as the primary token for transaction fees within the Morph network, opening up new avenues for its utility beyond the exchange.