According to the Bitget announcement, 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 BGB used for gas fees" is publicly available on the chain.
Based on the destruction rules, 30,006,905 BGBs will be destroyed in the first quarter of 2025, accounting for about 2.5% of the total supply. The corresponding number of BGBs will be sent to the destruction address, and the on-chain records will be announced after completion. CoinMarketCap data shows that BGB has a market value of approximately US$5 billion, ranking 25. The current total supply is approximately 1.2 billion, and it is in a 100% full circulation state.
Bitget CEO Gracy Chen said: BGB is becoming an important bridge connecting 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.