Bitget, the leading cryptocurrency exchange and Web3 company, has released a new whitepaper for its native token BGB, introducing a plan to burn 800 million tokens valued at over $5 billion and expand its utility.
Token Burn Plan and Its Impact
The new Bitget whitepaper introduces an ambitious token burn plan, starting with the immediate and permanent burn of 800 million BGB – 40% of the total supply – reducing the circulating supply to 1.2 billion. Beginning in 2025, Bitget will initiate quarterly burns by allocating 20% of profits from Bitget Exchange and Bitget Wallet to buy back and burn BGB. All burn activities will be recorded on-chain, ensuring transparency and accountability to the community.
Merger of BGB and BWB
Bitget recently announced the merger of Bitget Token (BGB) and Bitget Wallet Token (BWB). Following this merger, BGB will serve as the unified token for Bitget’s centralized and decentralized ecosystems. In the future, Bitget plans to expand BGB’s utility within on-chain ecosystems, positioning it as a core asset for staking, liquidity provision, and airdrop eligibility.
Bitget's Market Recognition
Bitget has distinguished itself as the fastest-growing centralized exchange (CEX) in recent years. This achievement is supported by a team of 1,600 professionals across 60 countries and the integration of cutting-edge technology ensuring a seamless trading experience. Bitget further strengthens user confidence with advanced security measures, including a $600M Protection Fund.
The release of the updated BGB whitepaper marks an important phase in Bitget’s journey. By reducing supply, enhancing utility, and expanding real-world applications, BGB is set to strengthen more functionalities and products in the Bitget ecosystem.
