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Bgogo .. The first platform for digital currency exchange with Supernodes

2018-08-23 02:10 pm | Resource: Crypto Section | No Views : 125

Bgogo .. The first platform for digital currency exchange with Supernodes Bgogo, a digital exchange platform with supernode menus, designed to incorporate high-quality, promising digital assets, we will tell you everything about the platform, explain the project in an easy way, the team and its own tokens.
Project name: Bgogo Exchange
Token symbol: BGG
Website: https://bgogo.com
White paper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf
Hard cap: 17,000 ETH (15,000 ETH during private sale and to supernodes, 2,000 ETH during public sale) for 10% of total tokens
Conversion rate: Private sale: 1 ETH = 66,666 BGG; public sale: 1 ETH = 69,999.3 BGG.
Maximum market cap at ICO on a fully diluted basis: $51 million based on current ETH price of $300
Bonus structure: Whitelisted public sale participants have a 5% bonus over the private sale price, with no lockup period.
Private sale: The private sale has already been completed with 10,500 ETH raised from 21 supernodes and 4,500 ETH from strategic investors.
White list: Bgogo’s public sale will be a Genesis Mining event (exact date to be confirmed) that will start 24 hours before mining is officially opened to the public. Only whitelisted users can participate. Details on the Genesis Mining event can be found here: https://bgogo.com/announcement?link=mining.
ERC20 token: Yes (will be switched to native tokens when the mainnet is launched)
Countries excluded: TBA
Timeline: TBA
Token distribution date: TBA

What is Bgogo Exchange?

Bgogo, is an algorithm trading platform that identifies itself as the first stock exchange with superior listing authority.
The system currently has 45 pairs trading between different digital assets with Bitcoin, Ethereum, and Tether, with a low manufacturing and purchasing fee at 0.1%. For a list of current trading pairs and fees, see: https://bgogo.com/fees.
Bgogo also uses transaction mining, a new feature used by a number of exchanges (eg, FCoin) where a portion of commission income is distributed to token holders. Bgogo claims to have a higher utilization rate where it uses a repurchase model where 100% commission income is used to repurchase BGG codes.
One of the distinctive features of Bgogo is its unique servers, which are elected on a quarterly basis based on 21 BGG tokens, and are reviewed by the Bgogo team which includes KYC reviews for all candidates.
Each supernode has a full estimate of the inclusion of a candidate for digital currency during the quarter; 20% of the transaction fee generated by the successful candidate will be returned to the supernode. Supernodes are required to secure BGG symbolic positions for at least a quarter during their term.
BGG tokens will be funded in particular by 21 Blockchain and VC companies as shown in the chart below, and as such they will serve as the first premium membrane in the platform.
BGG-Supernodes

Other key features:

Negative Transaction Fee: Users pay the trading fee to Bgogo Stock Exchange and are rewarded with 105% of the trading fee every 30 minutes as BGG codes. 50% of the total bonus offer will be used on BGG mining codes.
Daily token repurchase: Bgogo will use 100% of the accumulated trading fee to buy BGG tokens, which will be sent to a public burning address and permanently burned.
The chart below shows how Bgogo works for negative transaction charges and daily repurchase:
BGG-Diagram

How advanced is the project?

Bgogo was founded in 2017, initially under the name bitgogo, and began exchange operations in April 2018. The exchange platform is already working with a number of popular trading pairs available.
After you insert the BGG token, the platform will operate fully and provide a transaction fee and a nominal daily repurchase. Supernodes will be able to exercise their rights and new supernodes will be re-elected on a quarterly basis.

Tokens which used and its valued

BGG token is the original Bgogo code and acts as evidence of a balance of the platform's trading infrastructure. It is used to stimulate various parties within Bgogo exchange:
Supernodes: As one of the top 21 holders of BGG tokens, superstars are entitled to certain advantages such as the right to vote for one candidate for the borrowers and will receive 20% of the transaction fees that the candidate achieves.
Users: Users are rewarded with BGG trading / mining codes. There will be a limited number of icons that can be emptied daily. At present, one account can be up to $ 1 million a day.
BGG value values ​​should be valued in the following ways:
Increasing the volume of trading on the stock exchange will result in more returns from Bgogo. This will enable them to repurchase more coins that are subsequently burned, and the value of the remaining symbols will increase in value, and everything else will be equal.
With the increased popularity of the platform, the value will be increased to be supernode. Those who wish to become Bgogo supernode will be motivated to lock more BGG codes during their term.

Team

Bgogo currently has at least 35 people on its team with prior experience in major companies such as Facebook, Microsoft, Twitter and Boston Consulting Group. The biographies of Bgogo’s key team members are summarized below:
Maximilian Wang, CEO – Previously a software engineer at Facebook where he founded Facebook’s crypto syndicate. Prior to that, he was a software engineer at PINT where he led the development of a web components based MVC grid library. He obtained Bachelor’s degree in Electric Engineering and Automatic from the East China University of Science and Technology in 2012 and Master’s degree in Computer Science from the University of California, San Diego in 2014.
Nicolas Chen, CTO – Previously an engineer at Facebook where he was responsible for maintaining the network security of 2 billion Facebook, WhatsApp, and Instagram users. He was a Regional Champion in the ACM International Collegiate Programming Contest, a global programming competition for university students. He obtained Bachelor’s degree in Computer Science from Shanghai Jiaotong University.
Oscar Song, COO – Previously the operations chief of Huobi and was a founding team member of Gukebao. He obtained Bachelor’s degree in Finance from Renmin University of China.
Ciara Sun, CSO – Previously a consultant at the Boston Consulting Group for two years and worked in various roles at Grant Thornton China, Deloitte, Cummins, EY and Transamerica. She obtained her Bachelor’s degree in Accounting and Finance in 2013 and MBA in Financial Analysis in 2016, both from Indiana University – Kelley School of Business.
Bgogo’s investors include Node Capital, Sky9 Capital, Goopal Digital, and Hike Capital. The company recently raised $10 million in their Pre-A & A rounds from various investors.
In addition, there are 21 blockchain companies and VC firms that have invested 500 ETH each to become Bgogo’s initial supernodes, including Pantera Capital, DHVC, BlockWater Capital, Arrington XRP Capital, Hashed, BlockVC, PreAngel, Signum Capital, etc.

Opportunities

Supernodes are unlikely to sell their codes unless they plan to abandon supernode status in the next quarter. At the moment, most of the large trading funds are overflowing with liquidity, so we do not expect the current superstructure to look down BGG and give up its right to become supernatural.
Each supernode has one chance to insert digital currencies of their choice on the stock exchange. This power can be of great value if Bgogo is the highest measure.
Supernodes, 20% of transaction fees generated by Bgogo are rewarded for currencies that nominated supernodes. This provides incentives for the majority of supernodes to filter high quality coins.
The daily repurchase mechanism helps maintain demand for BGG codes.
Bgogo has a good mix of experience from the commercial and technical side, including the experience of operating another currency exchange.
Since there are no trading commissions for users, Bgogo can reap fast stability if liquidity is strong. This model can be sustainable in the long run as the team intends to ultimately generate profits by building a "laboratory B", which will use the Special Platform Fund to incubate and invest in projects for profit.
Interests
The mining process is controversial and there is currently no proven example over a long period of time. Using all repurchase transaction fees will result in another source of cash flow to maintain operations, although Bgogo now has a good budget. Profits from investments by B labs can be highly volatile.
There are several well-funded, recently-launched coded exchange exchanges, so the competition is fierce.
Compliance and regulation, something that can change dramatically overnight, is something that every exchange encounters. The mitigating factor is that Bgogo only engages in digital currency By digital currencies.
Because of the nature of the repurchase, the distinctive Bgogo symbols are probably security codes and are unlikely to be listed on other central exchanges.

conclusion

For volatility: S

Overhead contracts have paid a higher nominal price than the public, so there is no dumping pressure from big holders because of different pricing levels. This pricing strategy is unprecedented, and we believe it provides a great example of how to implement ICO pricing. If the project is good, the opportunity to allocate a larger bonus is already.
Half of the BGG tokens loaded by supernodes will be unlocked on the first day of the code list. However, we believe that the vast majority of funds are not in a hurry to liquefy BGG distinctive symbols, otherwise they risk losing supernode mode.
Therefore, we believe there will be a lot of selling pressure at first. In conjunction with the low initial symbolic supply and the cross-mining gateway, the BGG codes must function well outside the gate.

For a long term contract: a

BGG's long-term success depends on whether the exchange can generate a pull force beyond the initial noise period. Almost every value of the Bgogo platform to exchange the stock back to the BGG instead of the stock, so if Bgogo works well and becomes the highest exchange over time, BGG should work tokens well.
Given the strong background of the team and its commitment to the general community / smaller investors, we believe that Bgogo has a good chance of success.

For more information about Bgogo

Website: https://bgogo.com
Whitepaper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf
Announcements: https://bgogo.com/announcement
Telegram: http://t.me/Bgogo
Telegram (Announcements): https://t.me/BgogoAnnouncements
Twitter: https://twitter.com/BgogoExchange
Reddit: https://www.reddit.com/r/Bgogo
Facebook: https://www.facebook.com/BgogoExchange

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