Bitget Turns BGB Into Morph’s Native Token After $220M Burn

Bitget has entered an exclusive partnership with the consumer-grade blockchain Morph, officially upgrading its exchange token BGB into the native gas and governance token of the Morph ecosystem. While it takes on new roles in Morph’s infrastructure, BGB will also continue its familiar exchange functions like Launchpool participation and trading fee discounts. Following the news, BGB surged 14%.

BGB Token Burn and Supply Overhaul

220 million BGB tokens have been destroyed in a single transaction, marking one of the largest burns in the exchange’s history. The remaining 220 million tokens governed by Bitget have been transferred to the Morph Foundation and will stay locked, unlocking gradually at 2% per month. These funds will be allocated toward liquidity incentives, ecosystem growth, and user education.

Adding to this supply shift, the Morph Foundation is rolling out a new burn mechanism directly linked to network activity. Over time, this will compress BGB’s total supply to just 100 million, creating scarcity while tying its value closely to usage on the Morph chain.

Morph Blockchain Partnership Expands BGB Utility

BGB’s new role goes far beyond tokenomics. Bitget and Bitget Wallet will integrate Morph as their payment backbone and PayFi settlement layer, paving the way for stablecoin issuers and payment providers to join the ecosystem. This effectively migrates 120 million Bitget users into the Morph network, turning BGB into a practical payment and consumption tool for a massive user base.

Community voices have also been quick to weigh in. On-chain watcher 0xshun.eth noted how the 440 million BGB transfer split between burn and lockup reshaped the token’s trajectory. He stressed its shift from a fee discount token into a full-fledged governance and payment asset, while also raising curiosity about the role Morph’s native $MORPH token will play.

A New Era for Bitget BGB Holders

The move hasn’t gone unnoticed by analysts and crypto users alike. Another user, Zh0u, highlighted that BGB’s integration into Morph could explain recent unexpected developments, like the early close of the Zootosis vault with Mitosis.

With one of the biggest burns in its history, a shrinking supply model, and fresh on-chain responsibilities, BGB is stepping into a new era as the backbone of Morph’s blockchain economy.