Community Trust ScoreVerified
CZ Binance expressed: A big step for BNB moving closer to a DAO structure than an “exchange” coin. Open transparent burn algorithm based on the blockchain activities that you can calculate in real time. First in the industry for “exchange” tokens, too. Lead.
CZ previously stated, BNB is bigger than Binance.
Binance are introducing BNB auto burn, which is a new protocol for BNB burns.
Reportedly per Binance.com: “Over the past few years, the blockchain ecosystem has evolved in many ways as a result of the community’s feedback. Following in the footsteps of many other community supported projects, BNB has been on its own evolutionary journey towards greater innovation. At Binance, we’ve been listening closely to the BSC and BNB communities — and we are proud to announce the implementation of a new BNB Auto-Burn procedure effective immediately.”
Thus, going forward, the quarterly burn will be replaced with BNB Auto-Burn to facilitate improved transparency and predictability for the BNB Community.
The BNB Auto-Burn will be objective and verifiable, thus independent of revenues, which are generated on the Binance CEX by making use of BNB and it will be automatically adjusting in that the burn amount will be dependent on the price of BNB, which, in turn, will reflect the supply and demand for BNB and also the number of blocks which are produced during the quarter calculated on the basis of on-chain information.”
The formula is available at Binance Announcement publication in this regard.
Community Response: Fortunately, we believe the quarterly burn protocol is much more effective for the BNB.
All this time we were told that they would burn 100 million in 5 years. Also, the team did not sell a single BNB. Where is the truth?
BNB burning is clear and transparent. BNB scarcity goes up, circulating supply is going down, it is a deflationary asset. There is a higher push on price grow, which happens now. BNB breakout is inevitable.
Please give layman explanation without all the formulas. I’m confused. Does this mean no more quarterly burns from Binance and instead it’s being replaced with the already active BEP-95 on Binance Chain? I thought they were to remain separate.
I didn’t understand anything but bullish. Is this different from the BEP-95 burning mechanism?
BNB = Binance + BSC + disclosed projects + undisclosed projects + many acquisition + CEO + hardcore Buidl team + innovation + burn scarcity + BNB fans.
Holding BNB is the way to be part of Binance’s ecosystem. -Benefit from Binance’s profit via token burn. – Benefit from BSC And I forget some.
BNB is born with pessimism, grows with skepticism, ripens with optimism and enthusiastically achieves leadership.
