Bgogo is new asset exchange, which the team states is being built: “to be the cryptocurrency exchange of the community, by the community, for the community.”
The key feature of the exchange will be the inclusion of supernodes with the authority to decide on new listings. Users will receive a rebate of 105% of their trading fees, paid in the native BGG token. The trading fees charged by the exchange will be used to repurchase BGG tokens which will then be burnt.
Strength and Opportunities
The combination of supernodes, and using trading commissions to repurchase and burn BGG tokens should create a strong underpin for the token price.
The project has attracted a large following through its proof-of-care program. The Telegram group now has over 80,000 users.
Weaknesses and Threats
Several aspects of the business model are missing from the whitepaper, including technology and governance.
The team does not have experience building or managing a trading platform or exchange.
Governance is a serious concern with this project. As per the information that has been provided, there is no way to know if trading commissions or BGG tokens will be used as indicated.
It is not clear that Bgogo has anything unique or proprietary to protect any market share it may achieve. The first exchange to rebate trading commissions to users was FCoin, which rebated 80% of those commissions. Bgogo is rebating 105% of trading commissions. This will give it an edge until another platform offers an even more generous rebate.
Read full review here: https://primei.co/bgogo-ico-review/
🔹 URL: https://bgogo.com/
🔹 TG: https://t.me/Bgogo
