Morph announced an update to the BGB token economy, launching a new quarterly burning mechanism and expanding it to DeFi and PayFi applications.
TL;DR
Morph Foundation updated the BGB token economy with a quarterly burn mechanism tied to network usage, and expanded BGB's utility for gas, governance, and settlement in DeFi and PayFi ecosystems.
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Odaily Odaily reports that the Morph Foundation today announced its latest allocation plan for its 220 million BGB tokens and officially launched a new quarterly BGB burn mechanism. This mechanism directly links the supply of BGB to the actual usage of the Morph network, with the burn scale determined by ecosystem fees, average price, and community governance parameters.
With the Viridian upgrade and support for EIP-7702, BGB can now be directly used to pay for Morph network gas, becoming one of the first ERC-20 tokens to function as native gas on Layer 2. Morph stated that this update not only strengthens BGB's core role in gas, governance, and settlement but will also drive its further expansion in key ecosystems such as DeFi and PayFi, establishing a long-term deflationary path for the token based on real-world use cases.