BNB Chain's 31st Quarterly Burn Was Above $916M
Nearly 1,58 million BNB were burned by BNB Chain.
There are about 40.8 million BNB to burn.
The BNB Foundation announced that the BNB Chain completed its 31st quarterly BNB token burn.
Latest BNB Chain Burn Info
In its release, the BNB Foundation detailed the latest BNB token burn by the BNB Chain:
Over 1,579,207 BNB burnt by Auto-Burn.
At completion, the BNB burnt about $916 million in USD.
Over 40,886,572 BNB remain for burning.
Over 139,3 million BNB remain.
At 06:45:48 AM (UTC), the transfer was accomplished.
According to BSCscan, the transaction cost was $0.04 BNB and the gas price was 3 Gwei.
BNB Auto-Burn Mechanism Details
The Auto-Burn method progressively reduces the BNB token supply to 100 million.
The burn amount is changed depending on BNB's pricing and BSC's quarterly block generation to guarantee transparency and predictability.
BNB Auto-Burn is auditable and objective, and the statistics are reported quarterly.
The method is also independent of Binance.
Philosophy and Functions of BNB
The native currency of the BNB Chain ecosystem, BNB, has several features:
Powers environment
Supports BSC, opBNB L2s, and BNB Greenfield blockchain transactions.
Allows holders to participate in BNB Chain decentralized on-chain governance.
Reserve asset for strategic purposes
Crucial to BNB Executive TVL
From Ethereum to BNB Chain, BNB adopted a “Build and Build” environment after its mainnet launch on April 18, 2019.
BNB has a market valuation of $81.4 billion and trades above $578. #BinanceAlphaAlert #burn #bnb $BNB
