BKEX Global started the buyback and burning mechanism at 12:00 on June 16, 2019 (UTC+8). BKEX uses 70% of the handling fee generated by platform spot trading to buy back BKK and burn BKK regularly and the current burning cycle is weekly burning.
The details of buyback and burning:
- Every week (Monday to Sunday) is a buyback and burning cycle
- BKEX uses 70% of the handling fee generated by platform spot trading to buy back BKK irregularly and burn BKK
- The BKK bought during each buyback cycle will be burned within the next cycle
- The buyback and burning mechanism will be stopped when the BKK amount is burned to a total of 80 million