This BEP introduces a real-time burning mechanism into the economic model of BSC, making BNB’s tokenomics more dynamic.
Gas Fee Distribution
The gas fee is collected each block and split into two system smart contracts:
- System Reward Contract. The contract can possess at most 100 BNB. 1/16 of the gas fee will be transferred to the system reward contract if it possesses less than 100 BNB.
- ValidatorSet Contract. The rest of the gas fee is transferred to the ValidatorSet contract. It is the vault to keep gas fees for both validators and delegators.
The mechanism will be enabled by introducing Governable parameters: burnRatio in the ValidatorSet Contract.
The change of burnRatio will be determined by BSC Validators through a proposal-vote process based on their voting power (staked BNB).