Since the founding of the Bgogo exchange a year ago, their list of institutional investors (so-called Supernodes) has been extremely illustrious. This list includes the world's largest cryptocurrency fund Pantera Capital, the influential Singaporean institution Signum, traditional VC fund SKY9 Capital, and well-known VCs such as Node Capital and Genesis Capital from China. Bgogo pioneered the decentralized governance model of a centralized exchange, inviting Supernodes to participate in the exchange's community governance.
After a long crypto winter, the recent bull market cycle triggered by the rise of mainstream cryptocurrencies, most notably Bitcoin, marks the recognition and entry of digital assets by mainstream society and capital. As a result, new exchanges have been springing up. MXC and Biki have both made the 100X legend for their platform token.
With us having survived the bear market, and with the ushering in of the bull market, we are optimistic about the current state of the market, especially with the recent announcement of Facebook's new currency Libra. With such a historic opportunity, as a former Facebook veteran, our only goal is that before the end of the year we become a tier one exchange.
Three of the primary reasons that we believe we can achieve this goal are as follows: Firstly, we are well funded; having raised two rounds in equity, we have accumulated strength in the winter. Secondly, we have an all-star team coming from leading Internet companies and financial institutions such as Facebook. The third reason for our confidence is the resources that Bgogo has accumulated from globally renowned investment institutions such as Pantera, Signum, Node Capital, and our users.
The holding positions of our platform token’s organizational investors from the Supernode list are all transparent and can be viewed on the Bgogo homepage. Bgogo’s user base has grown to more than 200,000 users with actual fund deposits, in part due to our active engagement with the community and continually improving user experience, resulting in a very international brand.
Until this point, we’ve not only been building our hard power, but we’ve also been putting a strong emphasis on developing our soft power. Bgogo has always had the best interests of the users at heart and has focused on creating a mutually beneficially ecosystem for both Bgogo and each individual user. It is our core value that we do not encroach on the interests of users and we aim to share, co-govern and achieve win-win with the community.
We at Bgogo have been working on a combination of long and short-term plans, which began their execution yesterday:
First of all, we believe that future exchanges will be similar to brokers in the current stock market, and the trading assets themselves will not be much different. The mainstream currencies will be the focus of market transactions as commodities of gold and silver for a long time to come. In view of this, Bgogo recently introduced a cross-exchange hedging algorithm that thoroughly improves the orderbook depth of mainstream currencies such as BTC, ETH, XRP, LTC, and BCH. This creates an "on par with Binance" trading depth. In this way, Bgogo can satisfy the mainstream trading demands of our users
This was the first plan, that we put in action today.
Secondly, we invited over 500 KOL and influencers to enter our trading platform to create a brand new Bloomberg-like content push channel.
This is the Buzz-Bgogo initiative.
Bgogo will intelligently push the information that users care about most according to the user's holding position and transaction history, a system similar to Tiktok. For example, if a user holds or trades a lot of LTCs, it will push LTC related content to the user. Bgogo aims to create a full one-stop trading experience, where users can learn and get information in the media platform, and then go to the trading section to make trades. This is unprecedented on any other platform.
The above two functions, orderbook depth, and media feed will greatly enhance user retention. However, these alone cannot completely solve user growth problems. Our last plan and the most important to user growth is our “ambassador program”, the first initiative of its kind which is set to revolutionize the blockchain industry.
The ambassador program works as follows. Users who purchased a value of 500 USDT of BGG platform tokens can become an ambassador, and benefit from up to 14% return per year. As long as other users participate through the ambassador's referral code, he or she can earn up to 11% of the total participation amount from primary referees and 5% of the total participation amount from secondary referees, a total of two levels. By using the mature cross-industry approach from community-based e-commerce, we bring potential and inactive users to live in the crypto world. Before our referral program was sharing only a percentage of trading fees with the upper layer, however, the trading fee is only 0.1% of the trading volume. Now the reward is 16% of the principle - the total amount referred users purchased of BGG. Thus, we call for ANYONE who has community influence and own his own group. We call for ANYONE who has community skills or influence to join us. We will also reward people who can make an introduction to these community leaders or influencers.
The core of the “ambassador program” is to organize our community and users closely, so that all community users can become emissaries for the platform's promotion. The traditional rebate is only to return the percentage of the referees' transaction fee to the ambassador. However, this program rebates the percentage of the BGG platform token purchased from the secondary market, which is tens or even hundreds of times the traditional rebate incentives. This generous initiative is our trump card for growing our user base. Bgogo's ambassador program has a total of 50 terms, projected to complete in two years. All ambassador purchases can only be completed in the secondary market, and no extra tokens are sold separately by the platform or the team. Our goal is to develop 100,000 BGG Ambassadors within one year!
The major exchanges in the crypto circle are still in the era of uncertainty, where it is difficult for first-tier exchanges to stay safe with new ones emerging.
The current BGG token market value is very low, almost $9 million. Compared to other exchanges, Bibox is $29 million, Biki is $38 million, Mxc is $57 million, Bitmax is $74 million, Kucoin is $120 million, Gate is $160 million, ZB is $230 million, OKB is $550 million, HT is $1.3 billion and BNB is $1.9 billion. BGG will be 100X because there is room for growth.
Let us hold our breath as we wait and see.
Again, we call ANYONE who has capabilities of community and influence come and join us.