Dear BitMart Users,
As stated the “Repurchase Mechanism” in our white paper, BitMart will use 20% of the income earned by trading fees to repurchase and destroy BMX tokens. As trading fees started June 20th, the 1st coin burn is scheduled to occur at the end of this month.
BitMart will use the income earned from trading fees from June 20th to July 19th to repurchase and burn 1408459.6 BMX (around 70,422 USD) within 3 business days. The Repurchase Mechanism will continue until 500 million BMX are burnt, thus reducing the total supply of BMX. You will be able to check the burn records via the blockchain browser.
Thank you for your support!
August 2, 2018