Bitget to Burn 2.5% of BGB Supply in 2025 Q1 Upgrade

Bitget has announced an upgrade to its BGB burn rule, aiming to enhance compliance, transparency, and the empowerment of the BGB ecosystem. The new burning mechanism will link the quarterly burning amount of Bitget Token (BGB) to the "on-chain Gas fee," ensuring that the burning process is transparent and based on actual usage scenarios. The "quarterly BGB amount used for Gas fees" will be publicly visible on the chain, providing clear visibility into the burning process.

Under the new rules, approximately 30 million BGB will be burned in the first quarter of 2025. This amount represents about 2.5% of the total supply of BGB. The burned BGB will be sent to a burn address, and a record of the transaction will be made public on the blockchain upon completion. This move is part of Bitget's efforts to create a more transparent and sustainable tokenomics model.

Bitget CEO Gracy Chen highlighted the significance of this upgrade, stating that BGB is becoming an essential bridge connecting the centralized and decentralized ecosystems. By linking the burning mechanism to on-chain real-world usage, the quarterly burning amount of BGB will dynamically change with actual usage. This update not only incentivizes broader adoption but also builds a more transparent and sustainable tokenomics model. As the role of BGB continues to expand in the on-chain ecosystem, the burning mechanism will also become more sustainable.