Cryptocurrency exchange Bitget has released a new whitepaper for its native token, Bitget Token (BGB), outlining plans to burn 800 million BGB tokens, worth over $5 billion at current market value.
This will reduce the total supply by 40%, lowering the circulating supply to 1.2 billion tokens.
Starting in 2025, Bitget will conduct quarterly burns, using 20% of its profits from exchange and wallet operations—across spot, futures, and NFT transactions—to buy back and burn BGB.
Additionally, Bitget announced plans to merge BGB with its Bitget Wallet Token (BWB), making BGB the unified token for both centralized and decentralized systems.
Bitget intends to expand BGB’s use in on-chain systems, making it a key asset for staking, liquidity provision, and airdrop eligibility.
BGB will also power Bitget Wallet services, including multi-chain gas fee payments, and integrate into everyday PayFi scenarios.
