🔥 What exactly is BNB's "auto-burn" mechanism burning?
Have you ever thought about how the total supply of BNB is quietly decreasing?
Binance uses a portion of its revenue every quarter to buy back and burn BNB at the average price of the quarter, until the total supply is reduced from the initial 200 million to 100 million. This is the legendary "quarterly burn" mechanism.
Even cooler, in 2021, they introduced the "Auto-Burn" mechanism — dynamically calculating the amount to be burned each time based on the number of blocks in the BNB Chain and the price of BNB; the more active the chain, the more they burn 🚀
As of now, over 50 million BNB have been burned, continuously compressing the supply and strengthening its deflationary properties.
In simple terms: every time someone uses the BNB Chain, the system is helping you "reduce the competition" 😏
#BNB #Binance #BNBBurn #cryptocurrency #BNBChain #deflationarytoken #Web3
Have you ever thought about how the total supply of BNB is quietly decreasing?
Binance uses a portion of its revenue every quarter to buy back and burn BNB at the average price of the quarter, until the total supply is reduced from the initial 200 million to 100 million. This is the legendary "quarterly burn" mechanism.
Even cooler, in 2021, they introduced the "Auto-Burn" mechanism — dynamically calculating the amount to be burned each time based on the number of blocks in the BNB Chain and the price of BNB; the more active the chain, the more they burn 🚀
As of now, over 50 million BNB have been burned, continuously compressing the supply and strengthening its deflationary properties.
In simple terms: every time someone uses the BNB Chain, the system is helping you "reduce the competition" 😏
#BNB #Binance #BNBBurn #cryptocurrency #BNBChain #deflationarytoken #Web3