Let me tell the Bgogo story!
What is Bgogo?
Bgogo is the crypto exchange of the community by the community for the community. 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.
Bgogo is still a centralized exchange that using a decentralized governance model and a transparency scheme of coins listings.
Official website: https://bgogo.com
Telegram(EN): https://t.me/Bgogo
Telegram(CN): https://t.me/BgogoChinese
Facebook: https://facebook.com/BgogoExchange
Twitter: https://twitter.com/BgogoExchange
Reddit: https://www.reddit.com/r/Bgogo
Whitepaper English: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf
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.
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.
Every 24 hours, Bgogo will use 100% of the trading commission accumulated to repurchase BGG. The buyback tokens will be sent to a burn address made public.
Team
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.
BlockchainBrad's AMA -
Token Tank's AMA -
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.
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. He has won the ACM-ICPC International College Student
Programming Competition Regional Champion. Nicolas holds a bachelor’s
degree in computer science from Shanghai Jiaotong University.
CSO, Ciara Sun
Formerly worked at Boston Consulting Group, Deloitte Advisory, has rich work experiences in financial analysis, strategic consulting and corporate management experiences. She provided portfolio and asset management for billion scale hedge funds and private equity fund. She won the Championship for 2018 Blockchain Consensys without Borders Summit Project.
Bgogo's core team consists of 40 members with backgrounds in Facebook, Microsoft, Alibaba, Twitter and Boston Consulting Group in various locations such as Silicon Valley, Hong Kong and Singapore.
And just now they are hiring good engineers specially from Silicon Valley, and talented security engineers to make sure that everything goes smoothly.
Bgogo's concept
Bgogo founders feel that is so unfair that a lot of crypto exchanges only have personally advantages and the community that make a trades on exchanges, don’t has power, votes or influence to exchange work.
So one of the goals of Bgogo is to give back a power for its community.
So Bgogo has a concept of supernodes and they want people to be able to list the coins, listing will be based on the community feedback, votes, etc. They don’t want to be a single person that judging whether or not a project is good or bad, they want to be a part of Bgogo governance.
Bgogo want to be transparent, fair, liquid and secure as a cryptocurrency exchange for the people. Transparency is first and foremost that team want to focus on, because there a lot of unfair and closed companies in the sphere of blockchain right now, especially among the crypto exchanges.
So Bgogo decided to make a implement a concept of 21 supernodes and all supernodes are reputable VCs and influencers, all names of the supernodes are on the https://bgogo.com/ website, and since supernodes will gave their tokens holding positions, all information about this will transparently shows in the website and every day people are able to see how many tokens they sold or brought. Also Bgogo team will show their tokens holding too, and this is the way to do this in a new transparency way, community will know that VCs and team don’t do a pump-dump schemes or flipping their tokens in a short term.
The rights of supernodes:
- 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).
- “Commissions”. 20% of the transaction fees generated by the successful candidate will return to the supernode during the candidate’s listing period.
The Bgogo want to implement an innovate concept of mining through trading. So 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.
The problem of the actual leader exchanges is that they became monopoly exchanges and the listing process is pretty unfair and depend of the decision of some head persons and like you know it’s too easy to manipulate or corrupted this scheme. It’s a big centralized problem now for new projects that can’t be listed if they not paid.
The trading fee on Bgogo exchange is 0.01%. The platform from this fees paid 20% to the supernodes and the rest 80% will be used for daily buybacks and this mechanism in the opinion of the team, will support the price of BGG token.
Supernodes is gonna be paid in Bitcoin and Ethereum, basically exactly like how users pay trading fees, but the team is working to implement USDT Tether like a stable coin to their platform too and in the future may be will pay to supernodes in that particular stable coin.
Bgogo is working with some big banks right now to make this more legalize and also to have its own debt account to be backed by fiat money and to be able to put it trading in their trading platform.
The Bgogo team selected a supernodes very carefully to be sure that made good choise. However, some of them are crypto influencers but they have a deals with each supernode to make a market more strongly and be maximum objective and fair in votes, Bgogo tokens and exchange life.
If the Bgogo team do notice about malicious action on the blockchain, pump and dump or Ponzi scheme, team has a power to delist that coin and also has rights basically to denominate the supernode which violates the rules.
Team plans for every quarter to list around 25 to 30 coins, 21 coins by each supernode and rest will be listed by Bgogo team.
Also Bgogo has an incubator with some projects which is still coming, but now are in the stealth mode, and Labs to search and invest in other projects.
BGG’s Genesis Mining Event
Now team is planning to launch of the BGG tokens on the August, so in two-three days you can start trade on the Bgogo platform and receive a 105% trading fee rebate in the form of BGG tokens.
Given the fact that BGG trading pairs are not listed during the Genesis mining event, the value of BGG will be linked with ETH at the same price as the private sale. This means that the users of the white list can enjoy an extra bonus of 5% in addition to our private sale price, without blocking. This is an unprecedented case in the history of encryption in which a card is sold to the public at a price lower than that of the private sale. The reimbursement will be paid to the accounts of the users in only 30 minutes after the operation.
To be whitelisted users are whitelisted based on their performance in the “BGG Proof of Care” contest. There are three tiers of prizes, with a respective mining allocation. The higher quality the contributions are, the more allocations are granted.
You should read this article to know more about BGG‘s Genesis Mining Event https://bgogo.com/announcement?link=mining
The Genesis mining event starting August the 8th and probably will be the more exciting things in the sphere of new crypto exchanges for the lasts months. In this 24 hours users can trade their cryptocurrencies and gat a rebate 105% of BGG tokens and in this period there are not any BGG tokens trading pairs, which means that none of the VCs no one can sell or buy BGG tokens and the genesis mining event is kind of like public sale and that’s the only place and mode where you can get BGG tokens and you’re getting 5% bonus so users getting a price 5% cheaper than private sale price, so it will be a first case in entire cryptohistory that tokens is sold to public at lower price than private sale price.
This case is very important for Bgogo team to do their good brand image, do this they want to show that this is all are not for help VCs make their money, but it’s about helping people to be able to trade and get rewarded for that
And at the final I would like to cite some interesting and important facts by the CEO Maximilian Wang:
Bgogo did and will only raise 15k ETH. That is ~$6.3M. 50% unlocked on day 1, so the circulating supply will be ~$3.15M.
Bgogo did not raise money to maintain daily operations. It was mainly for a base liquidity kickoff for the BGG token economics mechanism.
Cryptocurrency is a game theory. BGG is part of the game thoery on exchange liquidity we're experimenting, not another ICO for flipping. Do not expect anyone pump the price 10x or 100x like other exchange platforms did.
Bgogo is the first exchange that gives the coin listing power to VCs/KOLs (Supernodes).
BgogoExchange is the first exchange where one gets paid to list a coin.
BgogoExchange is the first exchange to expose top token holders (including all Supernodes) and their holding positions. Updated daily. To offset appeal to authority fallacy, lets watch the authorities dance.
BgogoExchange is the first trade mining exchange that got institute investments from more than 1 country. Yea I know.
BgogoExchange is the first exchange to rebate users with 105% fees via trade mining. The rebate time (30 minutes) is the shortest on the market to minimize price flucuation.
BgogoExchange has a "public sale". It's called BGG Genesis Mining Event.
Given the fact that no $BGG trading pairs will be listed during the Genesis mining event, the value of $BGG will be pegged to ETH at private sale price.
Bgogo Exchange platform token $BGG is the first case in crypto history where the public sale price is LOWER than private sale.
Best wishes and @connect4steem
My Bgogo UID: 980096218
Huge Exchange btw!