Bgogo is the first digital asset exchange featuring supernode listing authority, designed to list the most high-quality and promising digital assets.
Bgogo is the first crypto exchange of its kind, where specially selected supernodes (21 pieces), consisting mainly of large funds, will have the right to publish an interesting project on the stock exchange once a quarter. Tokens of the projects on the exchange will appear only due to supernode listings and, mainly, for free. However, it is also possible to list other tokens at a lower cost than the existing large stock exchanges take.
For such obligations, supernodes will receive a reward of 20% of the exchange's profits. That is, for the initial contribution of 500 ETH (33,333,333 tokens for 0.000015 eth for node launching), supernodes will be able to influence the listings of interesting projects, and receive impressive dividends. To obtain the supernode status, it is necessary to lock a certain number of your tokens for 3 months, after that they will be completely unlocked. If the tokens between the nodes are redistributed (someone from the supernode will sell their tokens to another organization, or someone from the outside will collect tokens worth more than the last supernode in the list), then the structure and names of the supernodes can change.
Now such well-known funds as Pantera, DHVC, Node Capital, Arrington, BlockVC, DFG have supernodes. It is also worth noting that ICO Drops also has a node. This means that ordinary investors can be sure that the strongest ideas, which are supported by some of the most influential bloggers, and among which are the largest funds, will be listed on Bgogo.
Bgogo presents itself as an anti-pump exchange. At least with respect to their exchange token, they will control its price, using for this 75% of the commissions. That is, they will control volatility consciously, putting the smooth growth of the price of their BGG token in absolute.
The commission for each transaction will be 0.1% of ETH / BTC, but for each deal 105% of the paid commission in BGG tokens will be returned to the account. That is, if you made a trade for 100 ETH and paid 0.1 ETH commission, then the equivalent of 0.105 ETH in BGG tokens will be returned to you - this is called Mining through Trading.
As a result, 20% out of 100% of collected commissions in ETH / BTC go to supernodes, 5% to the bonus for traders, and 75% go to the daily redemption of their tokens.
The team, speaking about its main members, looks interesting. The staff is much larger, but like many Asian teams, they do not always fight their way.
CTO Nicolas Chan worked in the US headquarters of Facebook, and was involved in network security of FB, Instagram and WhatsApp.
CMO Max Wong also worked on Facebook as a software engineer, and was also the founder of Facebook's crypto syndicate. It is also interesting that he was involved in the recently sensational project QuarkChain.
COO Oscar Song was previously the operational head of one of Huobi's largest crypto systems.
Instead of standard ICO, Bgogo came up with the Genesis Mining Event.
Genesis Mining Event is an event that will last 24 hours before the official start of public mining. That is, 24 hours before the complete launch of the exchange.
During this event, users who have got into a limited whitelist of 1,000 people will have access to trading on the exchange, and receiving, already mentioned above, a refundable bonus for the commission of 105%. BUT the key difference from public mining will be the fixed price of the BGG token at the presale price - 1ETH = 66,666 BGG. And taking into account the 5% bonus, in fact, during the Genesis Mining, users will be able to get BGG tokens even cheaper than supernodes during private sale.
Allocation for Genesis Mining was provided to only 1000 users. Participants and the amount of their allocation (from 0.5 to 10 ETH) were determined through the Proof of Care project. There are 133,333,333 BGG in total on Genesis Mining.
Conclusion: as a result, we have a stock exchange with the original token economy, aimed at suppressing volatility and a smooth rise in price of the token. It is maintained directly by a number of the largest funds and some of the best influencers in the crypto community. The team has quite great work experience in giants such as Facebook and Huobi, and is involved in such a famous project as Quarkchain. The main questions are related only to whether this exchange will be able to withstand long-distance competition or not.
Available for token sale
Initial circulating supply