Bgogo

Bgogo exchange is issuing BGG tokens to participate in the trading ecosystem and will reward BGG to the traders via trade mining.

Rebate/Rewards:

In the initial stages, BGG tokens equivalent to 105% of the trading fee will be returned to the users 30 minutes after the trade and the % of rebate can be reduced over the time but won’t go below 100%.

Buyback:

Bgogo will also use 100% of the trading commission charged by the exchange to buy back BGG tokens every 24 hours and burn them.

Supernodes:

Bgogo team has sold 500 ETH worth of BGG to strategic investors in the private sale which will become the first generation of 21 super nodes in the eco system.

They will remain as super nodes for the first 90 days and will get the following 2 benefits,

"One Vote, One Listing" – Each super node can list a reputable digital asset (crypto currency) every quarter
"20% Per-Trade Commission" - 20% of the transaction fees in every trade will be given through the 90 days tenure
Re- election of Supernodes

A daily snapshot of accounts/wallets will be taken at 00:00 (UTC+8) for the first 90 days. The top 21 accounts will be ranked to become the next set of super nodes based on the daily weighted calculation of BGG held in each account.

Investors:

Website: https://bgogo.com/.

Tgm : https://t.me/Bgogo

Whitepaper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.7.2EN.pdf

Metrics:

Total Max supply: 10,000,000,000 BGG
Private sale - 1 BGG = 0.000015 ETH 1ETH = 66,666 BGG

10% sold in private sale for 15,000 ETH- 50% unlocked on day 1 and then 10% every month for 5 months

50% mined through trading in the exchange over a period of 4 years
20% held by team which unlocks at 25% at the end of each year for 4 years
20% Ecosystem tokens will be unlocked at the same rate of mining

Team:

Bgogo has a 35-member team spread across the US, Singapore and Hong Kong with senior management coming from companies like Facebook, Alibaba, Twitter and Microsoft.

CEO, Ms. Amber Cheung
CTO, Nicolas Chan
CMO, Maximilian Wong
COO, Oscar Song
CSO, Ciara Sun

Positives:

1. Trade mining is becoming the new trend and BGG tokens can be in high demand with very closed private sale, no crowd sale and only 7500 ETH worth (500 million) tokens on circulation on day 1
2. very low amount of funds raised, backed by big investors and a formidable team
3. 100% of the trading commission will be used to buy BGG and burn the coins every 24 hours
4. Daily ceiling amount of $1,000 USD per account to receive rewards, any trade above this limit will not be eligible for rewards. There is also a daily cap on mineable BGG tokens for the first 4 years. This is a good move to avoid large volume of repetitive trades

Negatives:

1. Supernode is entitled to "One Vote, One Listing"- each super node can nominate 1 coin per quarter to get listed- this sounds centralized as high chances of bribing the super nodes are possible by the projects that wants to list its digital asset/currency in the exchange.
2. Are the first-generation super nodes eligible to become second generation as the BGG balance is not locked for them? I couldn’t find any information to explain this in the paper.
3. Second generation supernodes BGG balances are locked for the 90-day period but if the top 21 accounts/balances don’t exceed the locked supernode balances, what will happen? will the second-generation nodes be re-elected again? I guess an explanation for eligibility of re-election could answer these questions.
4. There is a warning in the paper around the right to alter or discontinue the rewards program prior to expiry – may not be a biggy but good to keep in mind