18th Quarterly BNB Burn Completed via BNB Auto-Burn
As per the BNB Auto-Burn procedure, the 18th quarterly BNB token burn of 1,684,387.11 BNB has been completed. The latest quarterly burn includes an additional 6,296.305493 BNB that was effectively burned via the Pioneer Burn Program.
18th Quarterly BNB Burn Txid: https://explorer.binance.org/tx/0BEEB3558FF12B1A99FA3C214E8E708B50A28E737AC8A45A0F1876526175FB35
Here are the facts and figures behind BNB’s first Auto-Burn:
Total BNB burned: 1,684,387.11 BNB
Transaction ID (TXID) for BNB burn: View Transaction
BNB burned from the Pioneer Burn Program: 6296.305493 BNB
Since BNB and Binance launched in 2017, Binance has committed to removing 100 million BNB, or half of the total supply from circulation, through a process called burning.
In the past, BNB burns reflected the tokens’ usage and revenue generated in the Binance centralized exchange. As a result of the community’s feedback, the BNB Auto-Burn effectively replaces the previous burn mechanism in favor of a more objective process independent of the Binance centralized ecosystem. That being said, BNB will still continue to burn a portion of Binance Smart Chain’s (BSC) gas fees in real-time.
BNB is the native asset on Binance Chain, a blockchain software system developed by Binance and the community. BNB has multiple forms of utility and powers the Binance Ecosystem as its underlying gas.
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