BITGET TOKEN (BGB) BURN MODEL UPDATED WITH FIRST QUARTERLY BURN EXCEEDING 30 MILLION TOKENS

VICTORIA, Seychelles, April 9 (Bernama) -- Bitget, the leading cryptocurrency exchange and Web3 company, has announced a significant update to the burn mechanism of Bitget Token (BGB). This enhancement introduces a utility-based model that ties BGB's quarterly burn amount to its on-chain usage, signifying the token's evolution towards higher transparency, compliance, and sustainable token value.

To better reflect the growing integration of BGB across centralized and decentralized ecosystems, the new burn mechanism links quarterly burn volumes to the amount of BGB used for on-chain gas fees through Bitget Wallet’s GetGas accounts. By anchoring the burn to real usage, the model facilitates BGB’s transformation as a key asset within Web3 and real-world applications. The burn formula accounts for BGB's usage as gas fees, quarterly average price, and predefined constants to ensure a dynamic and verifiable process.