Bitget's $BGB is undergoing a profound value reconstruction. It is no longer just a platform token, but has opened a new on-chain narrative by becoming the native asset of the consumption chain L2 network @MorphLayer. Market sentiment data also reflects this, and I noticed significant positive feedback from its community regarding this move.

▍First of all, the underlying utility of BGB has undergone a fundamental shift. It will serve as the Gas fee and governance token for Morph Layer, which means that the demand for BGB is no longer driven solely by activities within the Bitget platform, but is directly tied to the prosperity of an independent public chain ecosystem. This is a crucial leap from application scenarios to ☛native utility.

I think its deflationary model has become more imaginative, with a one-time destruction of 220 million tokens, just marking the beginning. In the future, the destruction of BGB will be linked to the on-chain activity of Morph, forming a sustainable deflationary engine.░░ So what I envision is an asset that is constantly being consumed and whose total amount is decreasing, which will naturally reshape its value expectations.