PANews reported on April 9 that Bitget announced that in order to improve the compliance and transparency of BGB and the destruction plan, and to better empower the BGB ecosystem, Bitget Token (BGB) will update and upgrade the destruction plan. According to the new rules, the quarterly destruction quantity of Bitget Token (BGB) will be linked to the "on-chain gas fee". The new destruction mechanism is based on the actual use scenarios of BGB and ensures community transparency. The "quarterly total amount of BGB used for gas fees" is publicly available on the chain.
Based on this destruction rule, 30,006,905 BGB will be destroyed in the first quarter of 2025, accounting for about 2.5% of the total supply. The corresponding number of BGB will be sent to the destruction address, and the on-chain record will be announced after completion. According to CoinMarketCap data, the market value of BGB is about 5 billion US dollars, ranking 25th. The total supply is currently about 1.2 billion, and it is in a 100% full circulation state.
Bitget CEO Gracy Chen said: BGB is becoming an important bridge connecting the centralized and decentralized ecosystems. By linking the destruction mechanism to the actual use on the chain, the quarterly destruction amount of BGB will change dynamically with real use. This update not only encourages wider use, but also builds a more transparent and sustainable token economic model. As BGB's role in the on-chain ecosystem continues to expand, the destruction mechanism will also be more sustainable.
