What is $BGT?

Reminder:

Proof Of Liquidity is a three-token system.

1) $BERA - Token for gas fees

2) $BGT - Governance (+rewards) token

3) $HONEY - Native stablecoin

$BGT is the token for governance and the rewards on the chain. You can imagine them as points, but better.

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What makes $BGT special

It's important to understand that BGTs aren't transferable; you can't buy or send them BUT BGTs can be burned into BERAs anytime.

1 $BGT = 1 $BERA

If you win $BGT, either you hold it to earn more, either you burn it for $BERA. Only in this way.

NO TRADABLE.

DON'T BURN YOUR $BGT, YOU CAN'T BUY THEM BACK BOZO

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Let's imagine that you earned 100 $BGT because you have deposited liquidity in a dapp.

1. I want to send it to my friend = NO

2. I need another 100 $BGT to get 200 now, I want to buy some = NO

3. I have 100 $BERA & 100 $BGT, I want to swap my $BERA to have 200 $BGT = NO

4. I have 100 $BERA & 100 $BGT, I want to burn my $BGT to have 200 $BERA = YES

5. I keep my 100 $BGT in my wallet and I delegate them = YES

6. I want to take profits & burn my 100 $BGT to have 100 $BERA = YES

1 $BGT = 1 $BERA

but

1 $BERA ≠ 1 $BGT

To get $BERA you will be able to go on CEXs and buy, whereas $BGT you have to earn it yourself.

So..... 1 $BGT is mathematically worth 1 $BERA because you can only burn it this way, but in truth, it will be more valuable to you ;) You'll understand why later...

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An important detail to note

To calculate the potential total FDV of Berachain, $BERA and $BGT must be added together.

Because all BGTs that are not burned are artificially worth BERAs.

AGAIN, 1 $BGT = 1 $BERA

Let's take an example:

1. Let's imagine that 1 $BERA = $1

2. Imagine there is 100 million $BERA supply

3. 100 million x 1$ = $100M FDV of $BERA

4. Now, we add the $BGT

5. If 1 $BERA = $1, then 1 $BGT = $1

6. Imagine there is also 100 million $BGT supply

7. 100 million x 1$ = $100M FDV of $BGT

8. TOTAL FDV = $100M FDV of $BERA + $100M FDV of $BGT= $200M TOTAL FDV