BNB Quarterly Token Burn Event

BNB Quarterly Burning: More than 2,000,000 Tokens Disappear, Valuing $636,000,000In a recent release from Binance, the BNB Foundation announced that the 26th quarterly Binance Coin token burn over the BNB Chain has been successfully completed. A large portion of the native token of the exchange was removed from circulation during the burn, which included Auto-Burn and the Pioneer Burn Program. The BEP95 Initiative Causes the Permanent Loss of 210,000 BNBThe most recent burn event caused the Auto-Burn procedure to remove 2,141,487.27 BNB from circulation, which is over $636 million USD. According to Binance's release, the Auto-Burn system provides an auditable and objective method, operating independently of the centralized exchange (CEX). Further, 1542.15 tokens were removed from circulation as part of the Pioneer Burn Program. If a user is qualified, this service will permanently remove BNB equivalent to their proven lost money. This method has permanently burnt about 210,000 tokens since BEP95 was introduced. The Pioneer Burn Program, as previously said, aids in ecological preservation and prevents misplaced monies from impacting the circulation supply.The supply of tokens is also continually decreased via BNB Chain's Real-Time-Burn mechanism. As part of the continuous attempts to reduce supply, this mechanism allows for the burning of some of BNB Chain's gas costs in real-time.

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