TechFlow reports, BitMart announced it will burn 2,637,063 BMX tokens within five working days, equivalent to approximately $949,000. Users will be able to verify the burn record via blockchain explorer.
According to the "Buyback Mechanism" outlined in the BitMart whitepaper, 20% of BitMart’s platform fee revenue from the first quarter of 2024 will be used for the monthly BMX token buyback and burn. The BMX burning process will continue until a total of 500 million BMX tokens have been burned, ensuring a permanent reduction in total supply.




