PANews reported on December 30 that Bitget Token (BGB) has completed its first destruction. A total of 800 million BGBs were destroyed, accounting for 40% of the total supply, and the destroyed BGBs have been uniformly sent to the black hole address. The sources of the destroyed tokens include: 19% from the unlocked tokens held by the core team, and 21% from the tokens held by the core team that have been circulated. After the destruction, the current total supply and total circulation of BGB are 1.2 billion.
The repurchase and destruction will be carried out on a quarterly basis. Bitget will transfer the repurchased BGB to the black hole address for destruction, and announce the specific quantity and on-chain records after the destruction is completed to ensure transparency.
