Bitget has updated its Bitget Token (BGB) burning plan to improve compliance, transparency, and also strengthen the BGB ecosystem. As a part of the new plan, the quarterly burning amount of $BGB will now be tied to the “on-chain Gas fee.”
Bitget BGB Burn Rule Upgrade
The first-ever quarterly $BGB burn is here — approx. 30M BGB to be destroyed (~$120M)! 🔥
After extensive discussions with the community, we’ve upgraded the burn model to enhance compliance and transparency.
By tying it to on-chain gas fees, BGB is set to become a vital bridge… https://t.co/c9HXss1Fqw
— Gracy Chen @Bitget (@GracyBitget) April 9, 2025
The new burning mechanism shows the real allocation of BGB and allows better community transparency. Moreover, the “quarterly BGB used for Gas fees” will be publicly available on-chain.
For the Q1 of 2025, 30,006,905 $BGB will be burned, which reflects nearly 2.5% of the total supply. The corresponding BGB will be sent to the burn address, and a public record will be made on-chain once the process is done. According to CoinMarketCap, BGB’s market capitalization is currently around 5 billion USD, ranking 25th, with a total supply of about 1.2 billion tokens, all of which are in circulation.
Bitget’s CEO, Gracy Chen, commented, “By tying it to on-chain gas fees, BGB is set to become a vital bridge between centralized and decentralized ecosystems — officially entering a deflationary phase.
As BGB’s role in on-chain ecosystems grows, a more sustainable burn mechanism is on the horizon.”
Apart from this development, Bitget recently was in news for the launch of Bitget Onchain, which is a feature combining the speed, security, and simplicity of centralized exchanges (CEX) with direct access to upcoming on-chain assets. This feature aims to reshape the crypto trading experience. At present, Bitget Onchain supports the Solana, BNB Smart Chain (BSC), and Base networks.
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