Announcement on the Strategic Partnership between Bitget and the Morph Chain and the Upgrade of BGB’s Positioning

Since its establishment in 2023, Morph, the Global Consumer Layer, has attracted investment from institutions including Dragonfly Capital and Pantera Capital. It has successively developed developer-facing programmable tools like Morph Rails, and retail payment solutions, including Morph Pay and Morph Black, rapidly emerging as one of the most promising public chains in the market.

To further expand the use cases of Bitget Token (BGB), particularly its adoption within onchain ecosystems, Bitget has entered into an exclusive strategic partnership with Morph. Bitget plans to transfer all BGB tokens held by its team to the Morph Foundation, and the Morph chain will adopt BGB as its gas and governance token, driving the prosperity of the Morph ecosystem. The details of this collaboration are as follows:

BGB & Morph Ecosystem Integration

• Bitget will transfer all 440 million BGB tokens held by the Bitget team to the Morph Foundation. According to tokenomics in the BGB whitepaper, 300 million were reserved for the BGB ecosystem, while 140 million were reserved for team incentives.

• The Morph Foundation will burn 220 million BGB in a single action. The remaining 220 million will be locked, with 2% released monthly, to support liquidity incentives, use case expansion, education, and awareness around BGB on the Morph chain.

BGB Positioning Upgrade

• Effective immediately, the Morph Foundation, a non-profit organisation dedicated to supporting the growth and development of the decentralized Morph ecosystem, will be solely responsible for the future development roadmap of BGB, co-building the BGB ecosystem with the BGB community.

• BGB will become the gas and governance token of the Morph chain. At the same time, BGB will continue to collaborate with existing partners, such as exchanges and wallets, serving as a key medium for Launchpool's new token mining, fee discounts, and more.

• The Morph Foundation will update the BGB burn mechanism, linking it to Morph network activity, until the total BGB supply is reduced to 100 million.

Morph Performance Upgrade

• Morph will maintain its brand, team, and strategic direction, staying focused on its positioning as a Layer 2 dedicated to crypto payments, and striving to become the next-generation Web3 payment infrastructure.

• Morph plans to rapidly increase throughput and reduce gas fees to rank among the top 5 public chains, enhancing the speed and efficiency of its payment solutions.

• Bitget and Bitget Wallet will adopt Morph as its payment infrastructure and PayFi settlement layer, and will help bring in additional partners, including stablecoin issuers and global payment solution providers.

Morph’s mainnet was launched in Q4 2024, reaching a peak TVL of over $150M. We sincerely invite blockchain developers to join the Morph ecosystem and co-build high-performance, low-latency Web3 payment applications, making everyday payments truly on-chain. For more details, please visit the Morph Developer Portal.

Thank you for your attention and support.