TechFlow news, April 9 — Bitget announced an upgrade to the BGB token burn program to enhance compliance, transparency, and ecosystem empowerment. To improve the alignment between BGB's utility and its deflationary mechanism, Bitget Token (BGB) will now tie quarterly token burns to on-chain "Gas fees." The new burn model is based on actual BGB usage scenarios, ensuring community transparency by making the "total amount of BGB used for Gas fees each quarter" publicly verifiable on-chain.
Under this updated policy, 30,006,905 BGB tokens will be burned in Q1 2025, representing approximately 2.5% of the total supply. The corresponding amount will be sent to a burn address, with on-chain records published upon completion. According to CoinMarketCap data, BGB has a market capitalization of around $500 million, ranking 25th globally. The current total supply stands at approximately 1.2 billion tokens, all of which are fully circulating.
Gracy Chen, CEO of Bitget, stated: "BGB is becoming a key bridge connecting centralized and decentralized ecosystems. By linking the burn mechanism to real on-chain usage, the quarterly BGB burn amount will dynamically adjust according to actual demand. This update not only incentivizes broader adoption but also establishes a more transparent and sustainable token economy. As BGB’s role within the on-chain ecosystem continues to expand, the burn mechanism will become increasingly sustainable."
