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Bitget has announced an important update for Bitget Token (BGB )’s combustion mechanism.
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This improvement introduces a usage-based model that binds BGB’s quarterly combustion amount to on-chain use.
The combustion mechanism of the Bitget Tokens (BGB) is linked to the on-chain benefit
In order to better reflect the growing integration of BGB in centralized and decentralized ecosystems, the new combustion mechanism combines quarterly combustion volumes with the amount of BGB that is used for on-chain gas fees via the Getgas accounts of Bitget Wallet. By anchoring the combustion in real use, the model facilitates the conversion of BGB into an important asset in Web3 and in real applications. The combustion formula takes into account the use of the BGB as gas fees, the quarterly average price and predefined constants to ensure a dynamic and verifiable process.
The first quarterly burn as part of this new mechanism has now been calculated. In the 1st quarter of 2025, 6,943.63 BGB were charged on the Getgas accounts of Bitget Wallet for the use of on-chain gas fees. According to the new formula, a total of 30,006,905 BGB will be burned in this quarter. All data related to the combustion-including the transaction data and wallet addresses-are open to-chain in order to ensure full transparency.
“BGB becomes an important bridge between centralized and decentralized ecosystems. By linking the combustion mechanism to the actual on-chain benefit, the quarterly combustion amount from BGB can develop with the actual use. This update creates incentives for acceptance and enables transparent and sustainable tokenomics”, ”
said Gracy Chen, CEO from Bitget.
“Since the BGB is further expanding its role in the on-chain ecosystems, a more sustainable combustion mechanism can be expected.”
The advantages of the BGB
Bitget Token (BGB) is the utility token, which drives the entire Bitget ecosystem, which includes both the centralized stock exchange and the decentralized wallet. BGB can be stabbed to achieve passive income or qualify for the popular token-airdrops via launch pool and pool. Via Launchpad and Launchx, an earlier access to promising web3 projects is also made possible. BGB is used on-chain to cover multi-chain gas fees in Bitget Wallet.
Holding BGB grants users exclusive advantages such as upgrades to VIP level and profit sharing options for elite traders. BGB is more than just a token, he is a goal for users to deal with the Bitget ecosystem, influence it and grow with it.
BGB was introduced in July 2021 at an initial price of 0.0585 USDT and in December 2024 reached an all -time high of $ 8.5, which meant more than 100x of cumulative profits. According to CoinmarketCap, it is now one of the three largest Cex native tokens after market capitalization and is listed as a top 30 crypto asset.
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