Question 1

What is BGSOL and what can I do with it?

Accepted Answer

BGSOL is a liquidity lock-up solution developed by Bitget. Users who lock up their SOL will receive BGSOL tokens in return. Unlike regular lock-ups, BGSOL allows users to maintain the liquidity of their assets while enjoying various benefits. In addition to receiving lock-up incentives, users can also use BGSOL for other DeFi activities.

Question 2

Will the APY of BGSOL change and how is it calculated?

Accepted Answer

The APY of BGSOL is adjusted based on market and network conditions, often influenced by factors such as lock-up engagement across the Solana network and the performance of validator nodes. As a result, the APY is variable, and you can view the current APY in real time on Bitget.

Question 3

Why do I receive lesser BGSOL than the locked SOL?

Accepted Answer

The conversion ratio between BGSOL and SOL varies over time, influenced by both time and yield accumulation. Usually, the value of 1 BGSOL gradually exceeds 1 SOL, as BGSOL represents not only your principal but also your lock-up incentives. Thus, the value of BGSOL increases over time.

Question 4

How often is the BGSOL and SOL conversion ratio updated?

Accepted Answer

The BGSOL conversion ratio is usually updated based on the Solana network epoch, which occurs approximately every 2–3 days. You can check the latest ratio and the update cycle on the Bitget lock-up page.

Question 5

Will the value of BGSOL grow over time?

Accepted Answer

Yes, the value of BGSOL grows as lock-up incentives are held for longer periods. In other words, the value of BGSOL holdings will continue to rise over time, even if you take no action.

Question 6

Can I receive the lock-up incentive if I buy BGSOL from the market or obtain it through a transfer?

Accepted Answer

Yes, you can. Whether you acquire BGSOL through lock-up or buy it from the market, holding it will grant you continuous lock-up incentives. The value of BGSOL will continue to grow as these incentives are held for longer periods.

Question 7

When will the lock-up incentive be distributed and how can I check it?

Accepted Answer

BGSOL lock-up incentives are calculated automatically and are not directly distributed to your account; instead, they are reflected in the BGSOL conversion ratio. You can view the details of your lock-up profits on the Bitget lock-up page.

Question 8

Where can I view my BGSOL holdings and earnings?

Accepted Answer

Log in to your Bitget account to view your BGSOL holdings and corresponding profit on the Assets page.

Question 9

How to convert BGSOL back to SOL?

Accepted Answer

You can convert BGSOL back to SOL at any time on Bitget using the conversion ratio available at that time. Please note that the conversion may take some time, depending on the operation of the Solana network.

Question 10

Can I partially unlock BGSOL? Is there an amount limit?

Accepted Answer

Yes, you can choose to partially or fully unlock BGSOL without any limit. However, the unlocking progress may be affected during network congestion or peak periods. We appreciate your patience.

Question 11

When can I receive my SOL after unlocking?

Accepted Answer

Typically, the unlocked SOL will be credited to your account within four days after you submit your application. You can check the progress and status at any time during the period.

Question 12

Can I still receive the lock-up incentive after unlocking?

Accepted Answer

Once the unlocking begins, the unlocked portion will no longer continue to accumulate lock-up incentives. Only the BGSOL you hold will continue to receive incentives.

Question 13

What would happen if I transfer or sell my BGSOL?

Accepted Answer

After transferring or selling BGSOL, your locked-up SOL and corresponding incentives (including both existing and future incentives) will be transferred to the new holder.

Question 14

Can I cancel the unlocking request after the process has started?

Accepted Answer

No, you will not be able to cancel or stop the unlocking process once it has started. Instead, you can choose to lock up your SOL again or convert it to BGSOL once the unlocking is complete.

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