BNB Chain has successfully executed its 30th quarterly BNB token burn, eliminating 1,634,209.95 BNB tokens worth approximately $1.12 billion. This burn is part of the BNB Chain's ongoing effort to reduce the total supply of BNB to 100,000,000 tokens.
BNB Chain recently completed its 30th quarterly BNB token burn, destroying a total of 1,634,200.95 BNB, equivalent to approximately $1.12 billion USD. This burn comprises 1,524,200.95 BNB from the regular auto-burn mechanism and an additional 110,000 BNB allocated to the Pioneer Burn Program. This burn process is a key feature of the BNB Chain, designed to gradually reduce the total supply of BNB to 100,000,000 tokens.
The BNB Auto Burn system operates independently of the Binance centralized exchange and aims to maintain the value and scarcity of the BNB token. To facilitate the BNB Fusion, BNB Beacon Chain validators contributed 110,000 BNB of their self-staked BNB to the Beacon Chain, which is permanently locked and considered burned. Validators are compensated for this contribution through the Pioneer Burn Program. The remaining amount to be burned stands at 42,465,780.15 BNB, leaving a total supply of 142,465,780.15 BNB. BNB is the native token of the BNB Chain ecosystem, powering its multi-dimensional Web3 environment. It facilitates transactions on various blockchains within the ecosystem, including the BNB Smart Chain (BSC), opBNB L2s, and BNB Greenfield. Beyond transaction fees, BNB serves as a governance token, empowering holders to participate in the decentralized on-chain governance of the BNB Chain
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