BNB Foundation Successfully Completes 28th Token Burn!

The BNB Foundation has announced the successful completion of its 28th quarterly BNB token burn, marking another significant milestone for the BNB Chain.

The BNB Foundation has successfully completed its 28th quarterly BNB token burn, highlighting another important milestone for the BNB Chain. The latest burn, conducted via BNB’s Auto-Burn system, has resulted in a significant reduction in the token’s circulating supply.

Total BNB Burned: 1,643,698.8 BNB

Approximate USD Value at Burn Time: $971 million

As the native token of the BNB Chain ecosystem, BNB plays a crucial role in supporting transactions on the BNB Smart Chain (BSC), opBNB Layer 2 solutions, and the BNB Greenfield blockchain. In addition to facilitating transactions, BNB serves as a governance token, allowing holders to participate in the decentralized on-chain governance of the BNB Chain.

BNB Auto-Burn System

The BNB Auto-Burn system is designed to gradually reduce the total BNB supply to 100,000,000. The burn amount is adjusted based on BNB’s price and the number of blocks generated on the BSC each quarter, ensuring transparency and predictability. This system provides an independently auditable and objective process, with figures reported quarterly.

In addition to automatic burns, BNB also employs a real-time burn mechanism based on gas fees. BSC validators determine the ratio of gas fees collected per block, which are then burned at a fixed rate. Since the implementation of BEP95, approximately 234,000 BNB have been burned through this mechanism.

The BNB Foundation’s ongoing commitment to reducing the total BNB supply aims not only to enhance the token’s value and utility but also to maintain a robust and transparent ecosystem. This steadfast dedication underscores the foundation’s resolve to uphold a transparent and sustainable ecosystem.

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