The BNB Foundation has recently announced another milestone. As per the company, BNB Chain has effectively accomplished its twenty-eighth token-burning event for its native BNB coin, with a cumulative of 1,643,698.8 tokens burned. As a result of the respective event, a substantial decrease is taking place in the cumulative BNB token supply. This reportedly contributes to the overall value and health stability of the entire BNB ecosystem. BNB Chain made this announcement on its official blog today.
BNB Chain Accomplishes Its Twenty-Eighth Quarterly Token Burn of BNB
The Auto-Burn Mechanism of BNB Conducts an Auditable and Independent Token Burn Process
The platform has established the Auto-Burn mechanism for the token burn. This apparatus focuses on gradually minimizing the cumulative supply of BNB to nearly 100,000,000 BNB coins. The amount of token burn is specified in line with the price of the BNB. It also considers the amount of blocks that BSC generates in a quarter. The respective system guarantees predictability and transparency, offering a dependable method for supply decrease.
