Morph Foundation has destroyed 220 million BGB and simultaneously locked 220 million BGB in the foundation's independent address.

ChainCatcher reported that the Morph Foundation has announced the permanent destruction of 220,000,000 BGB, with all records left on-chain.

At the same time, another 220 million BGB have been locked in an independent address of the Morph Foundation, with 2% to be unlocked each month over the next 50 months. The Morph Foundation will transfer BGB from the Ethereum chain to the Morph chain.