BGB upgraded to Morph public chain token, destroying 220 million at one time

Bitget will transfer all 440 million BGB held by the team to the Morph Foundation. Morph will destroy 220 million BGB, leaving the remaining 220 million locked and unlocking 2% monthly for ecosystem incentives. BGB will become the gas and governance token of the Morph chain. The Morph Foundation will be responsible for the future development of BGB and will update the BGB destruction mechanism, with the target total supply reduced to 100 million.