Bitget, the leading cryptocurrency exchange, has announced an update to its whitepaper for the BGB token, including plans to burn tokens and expand their usage.
New Token Burn Initiative
The new whitepaper from Bitget initiates a plan to burn 800 million BGB tokens, representing 40% of the total supply. Starting 2025, Bitget will conduct quarterly burns by allocating 20% of profits from various operations to repurchase and burn BGB.
Expansion of BGB Utility
Following the merger with BWB, BGB will serve as the sole token across Bitget's ecosystems. The token offers fee discounts, VIP privileges, and participation in token farming through Launchpool. BGB will also be used as a core asset for staking and other blockchain operations.
Bitget's Market Position
Bitget stands out in the crypto space due to its comprehensive ecosystem and advanced technologies. The exchange actively builds user confidence with security measures and compliance strategies.
The release of the updated BGB whitepaper marks an important milestone in Bitget's development. The plans to reduce supply and expand token use aim for sustainable growth and long-term value for holders.
