# Bitget Token (BGB): D-Score 31/100 — Centralized Leaning

**BlockIndex D-Score: 31/100 (Centralized Leaning).** Bitget Token (BGB) is a Layer 2 cryptocurrency using PoS consensus. Bitget Token (BGB): Exchange-native ERC-20 utility token evolving toward Morph-chain gas and governance with planned burn policy.

_Source: https://blockindex.ai/coin/bgb · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 31 |
| Node distribution | 0 |
| Initial distribution | 0 |
| Governance | 20 |
| Age and history | 11 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: PoS (N/A)
- Launch: Other (2021)
- Founder: Bitget (Bitget exchange)
- VC funded: No
- Max supply: 919,992,036
- Circulating: 698,767,776 (76.0%)

## Market data (as of 2026-06-19)
- Price: $1.78
- Market cap: $1.25B
- 24h volume: $12.09M
- 24h change: -1.01% · 7d change: +0.60%

## About
Bitget Token (BGB) is the native platform token originally issued by the Bitget exchange in 2021 as an ERC-20 token on Ethereum. Initially designed to provide exchange-centric utility—fee discounts, launchpool allocations, staking utilities and other in-platform benefits—BGB has been actively repositioned toward broader on-chain utility. Between 2024 and 2025 the project documented a token contract migration and a consolidation event (the Bitget Wallet Token merge), and in September 2025 a strategic partnership with the Morph chain was announced. That partnership positions BGB to act as both a gas token and a governance token on Morph, with the Morph Foundation (described in the sources as a non-profit decentralized organization) overseeing future development. The token has been listed across multiple centralized and decentralized venues, and snapshot market-data in the provided sources places BGB within the higher tiers of market capitalization for exchange tokens.

From a technical and architectural perspective, BGB began as an ERC-20 token and remains token-native rather than a standalone blockchain. The materials in the combined sources note an on-chain token contract address (0x54d2252757e1672eead234d27b1270728ff90581) and document a migration to a new token version on 2024-07-01 followed by a supply consolidation (BWB merge) at the end of 2024. The Morph partnership is described as a migration/utility move rather than a replacement of token provenance—an increasing portion of supply and gas/governance functionality is intended to operate on Morph while retaining ERC-20 heritage for existing integrations. The sources do not provide low-level chain metrics (blocks, TPS, block times) or an explicit open-source repository; consensus context is interpreted through the ERC-20/Ethereum origin (PoS on the Ethereum side) and Morph-chain governance details are high-level in the provided material.

In terms of use cases and tokenomics, BGB maintains clear exchange-facing utility—trading/fee discounts, launchpool participation and staking-style rewards within the Bitget ecosystem—while the Morph transition is framed as adding gas and governance functionality that could expand its on-chain real-world usage. Supply figures in the provided snapshots vary by date: CoinMarketCap snapshots list total supply values in the hundreds of millions (a profile snapshot lists 919.99M max supply and circulating supply snapshots in the 696M–699M range), while some historical texts reference an initial fixed supply figure of 2 billion at launch. The combined sources also discuss a planned burn mechanism tied to Morph network activity with an explicit long-term target of reducing total supply toward 100 million BGB; details of the mechanism and exact burn cadence are not present in the provided excerpts. Market-data snapshots included in the dataset show active trading volumes and price history (examples: 24h volume snapshots around tens of millions USD, an all-time high of $8.49 on 2024-12-27 and an all-time low of $0.05836 on 2021-08-11), indicating notable volatility and active market interest.

Governance and organizationally, BGB’s origins are corporate/exchange-led (Bitget) and the combined sources indicate the Morph Foundation will play an overseeing stewardship role after the 2025 partnership. CoinMarketCap-sourced leadership names appear in the dataset (Gracy Chen listed as CEO, plus additional executives). There is no evidence in the provided material of a fully on-chain DAO treasury or formal on-chain governance parameters; governance is described through tokenized utility and foundation stewardship rather than explicit on-chain voting rules in the scraped excerpts. The documentation set contains clear operational milestones—migration to a new token contract, token merge events, and the Morph partnership—that together suggest active development and ecosystem evolution, but it lacks detailed technical governance contracts, voting thresholds, or treasury rules in the provided selection of sources.

## Links
- Website: https://coinmarketcap.com/currencies/bitget-token-new/
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore