Token

Burn

Million

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitget-announces-significant-update-to-bgb-token-strategy/" data-wpel-link="internal">Bitget Announces Significant Update to BGB Token Strategy</a> 
Crypto exchange Bitget has announced a crucial update regarding its BGB <a href="https://en.coin-turk.com/degen-memecoin-surges-following-coinbase-listing-announcement/" data-wpel-link="internal">token</a> in the recently released whitepaper. According to the renewed plan, a total of 800 million BGB tokens will be burned, representing 40% of the total supply. This significant step will reduce the total supply of BGB to 1.2 billion tokens, offering a promise of increased value and stability for BGB holders. 
<h2 style="text-align: justify" id="strong-initial-burn-of-800-million-bgb-tokens-strong">Initial Burn of 800 Million BGB Tokens</h2> 
Bitget aims to strengthen the ecosystem surrounding the BGB tokens. To achieve this, 800 million BGB tokens held by the core team will be burned, effectively removing them from circulation. 
<figure id="attachment_418452" aria-describedby="caption-attachment-418452" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" loading="lazy" decoding="async" class=" wp-image-418452" src="https://coin-turk.com/wp-content/uploads/2024/12/Altcoin-BGB-Token.jpg" alt="" width="707" height="451">
 <figcaption id="caption-attachment-418452" class="wp-caption-text">
 Altcoin BGB Token
 </figcaption>
</figure> 
The tokens to be burned constitute 40% of the total supply. With this action, the supply of BGB will decrease to 1.2 billion tokens, with all tokens fully entering circulation. The burning process will be publicly announced with all transactions recorded transparently. 
<h2 style="text-align: justify" id="strong-quarterly-bgb-buyback-and-burn-program-strong">Quarterly BGB Buyback and Burn Program</h2> 
Bitget will initiate a new buyback and burn program for BGB tokens at the end of each quarter. In this program, 20% of the exchange’s quarterly profit will be allocated to buyback and burn BGB tokens. 
The profits for this program will stem from trading fees, futures, margin trading, and <a href="https://en.coin-turk.com/opensea-introduces-a-new-feature-make-a-deal/" data-wpel-link="internal">NFT</a> trading. Bitget will utilize a dedicated address to burn the repurchased tokens and will disclose details of these transactions to the public, aiming to maintain control over the value and supply of BGB tokens. 
Market participants emphasize that these strategic plans would support the upward trend of BGB tokens, which is considered one of the strongest <a href="https://en.coin-turk.com/dwf-labs-takes-significant-steps-towards-developing-movieblocs-innovative-platform/" data-wpel-link="internal">altcoins</a> in recent months. 
The post <a href="https://en.coin-turk.com/bitget-announces-significant-update-to-bgb-token-strategy/" data-wpel-link="internal">Bitget Announces Significant Update to BGB Token Strategy</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitget Announces Significant Update to BGB Token Strategy

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