TechFlow reports, according to official information, Bitget Token (BGB) has completed its first token burn. A total of 800 million BGB tokens, representing 40% of the total supply, have been sent to a black hole address.
The burned tokens consist of: 19% from unvested tokens held by the core team and 21% from already circulating tokens held by the core team. After the burn, the current total supply and circulating supply of BGB stands at 1.2 billion tokens.
Repurchase and burn events will occur quarterly. Bitget will transfer repurchased BGB tokens to a black hole address for burning and will publicly disclose the exact quantities and on-chain records after each burn to ensure transparency.
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