Bitmart Bitmart BMX: Token Uses, Buybacks and Burns
BitMart Token (BMX) is BitMart’s exchange token, originally issued as an ERC-20 token on Ethereum. BitMart’s 15 February 2019 fee instructions described a 25% trading-fee discount when BMX payment was enabled and the balance covered the fee; standard fees applied otherwise. A reposted Launchpad notice specified BMX for a lottery scheduled from 00:00 UTC on 23 August to 00:00 UTC on 24 August 2024, limited to one ticket per user with KYC completed by 23 August 2024. These fee rules and campaign terms are historical; BitMart reports that trading ended on 26 August 2026. Historical posts reported repurchases followed by burns, which permanently remove the burned tokens from usable supply. A buyback alone does not establish that removal. The reported quantities describe individual events and cannot establish the current total or circulating supply.
Dated Burn and Buyback Reports
- Seventh Monthly Burn: 25 January 2019
- The BitMartExchange account’s seventh monthly burn update announced that 5,504,154.6982592 BMX would be burned within five business days. That was an announced quantity and completion window, rather than a statement that the full burn had already finished.
- 11th Monthly Burn: 22 May 2019
- BitMartExchange identified 20 April to 19 May 2019 as the burn period and said blockchain records would be available after completion. The post did not give a completed burn quantity.
- 18th Monthly Burn: 3 January 2020
- BitMartExchange’s 18th monthly burn completion post reported that BitMart had used 20% of the income earned from trading fees for 20 November to 19 December 2019 to repurchase and burn 4,449,585.631422848 BMX. This was a reported completed removal for that round, not a cumulative burn total.
- May 2024 Buyback: Reported 18 June 2024
- A community repost dated 18 June 2024 reproduced a notice signed by the BitMart Team. It reported a May 2024 buyback of 678,724.48 BMX, purchased on 6 June 2024, and restated an allocation of 20% of trading-fee income to repurchases. The notice reported a purchase without stating that those tokens had been burned.
Fee Income and Token Removal
The 20% figure in these reports applied to trading-fee income allocated to repurchases. It was not a percentage of the BMX supply. The number of tokens that a purchase budget can acquire depends on the execution price, while the permanent supply reduction depends on how many tokens are subsequently burned.
Hypothetical Buyback and Burn Accounting
For one hypothetical round, assume a starting usable supply of 987,654,328 BMX, trading-fee income of $48,768 and an average purchase price of $0.16 per BMX. These inputs are invented for the calculation. Apply the historical 20% allocation, assume the entire allocated budget goes into token purchases and exclude any other supply changes.
The purchase budget is $48,768 multiplied by 20%, or $9,753.60. Dividing that budget by the hypothetical price of $0.16 per BMX gives 60,960 BMX purchased. Two hypothetical outcomes produce different supply results:
| Treatment of Purchased Tokens | BMX Purchased | BMX Permanently Removed | Usable BMX Supply Afterward |
|---|---|---|---|
| Purchased tokens remain spendable | 60,960 | 0 | 987,654,328 |
| All purchased tokens are permanently burned | 60,960 | 60,960 | 987,593,368 |
The lower supply result follows from 987,654,328 minus 60,960 BMX and requires the full purchased amount to become permanently unspendable. A purchase report alone does not establish that result. With the same budget, a higher average purchase price would buy fewer BMX and, if all purchased tokens were burned, produce a smaller reduction.
Total Supply and Circulating Supply
A supply calculation needs a consistent starting figure and treatment of burned tokens. If a quoted total already deducts a historical burn, subtracting that burn again would count the same removal twice. The announced seventh-round amount and the May 2024 purchase amount also cannot be added to the reported 18th-round burn as though all three were confirmed completed removals.
Circulating supply separately depends on which unburned holdings are included as circulating. A burn quantity alone cannot determine that figure. These individual announcements do not provide the complete supply history needed to calculate either current measure.
Historical Terms and Exchange Status
BitMart’s notice published on 6 November 2026 states that trading ceased at 01:00 UTC on 26 August 2026 and that deposit services are suspended. The earlier fee-funded buyback reports describe their respective historical periods; they do not establish an ongoing monthly burn schedule or a commitment to further BMX repurchases.
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