Binance has committed to removing 100 million BNB, or half of the total supply from circulation.
What You Need to Know About BNB Burn
Today, BNB completed its 19th quarterly burn, which is also the second time the “auto burn” mechanism has been used.
The BNB burn data for this quarter is as follows:
- Total Burn: 1,839,786.26 BNB
- Approx : $ 741,840,738.874
- “Anti-Black Hole Program” Total Burn: 9,403.78 BNB, already included in the total burn
Since the launch of BNB and Binance in 2017, Binance has committed to removing 100 million BNB, or half of the total supply, from BNB’s total circulating supply through “quarterly burns.”
In the last quarter of 2021, the “Auto-Burn” mechanism is activated for BNB burning, and the number of burns in each quarter will be automatically calculated by the formula.
In the past, the burning of BNB reflected the token usage and profits generated by the Binance exchange.
With the feedback and support from the community, the BNB automatic burning mechanism effectively replaced the previous profit burning mechanism, which will help promote the process of BNB becoming independent of the Binance centralized ecosystem.
Of course, BNB is still the “fuel” that enables transactions on the BNB Chain.
Go to Binance Official Website
Please check Binance official website or contact the customer support with regard to the latest information and more accurate details.
Binance official website is here.
Please click "Introduction of Binance", if you want to know the details and the company information of Binance.
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April 24, 2024
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