Ted Hirokawa
January 25, 2025 07:07
The BNB chain successfully completed the BNB token image in the 30th quarter, with a 1.6 million BNB of $ 11.6 billion in the circulation.
The BNB Foundation announced the successful completion of BNB token Burn, an important event for the BNB chain community. According to the BNB chain, the burn effectively removed 1.6 million BNB tokens from the circulation, and the value of about $ 11.6 billion was removed at $ 11.6 billion at the time of burn.
Details of burns
The total BNB burned in this cycle is 1,634,200.95 BNB. This figure contains two components. The actual image of 1,524,200.95 BNB and the additional 110,000 BNB of the pioneer video program are included. The transaction ID for this important image can be seen in BSCSCAN and shows the transparency of the process.
The pioneer video program promoted a 110,000 BNB image. This program contributes to token burns by rewarding the BNB beacon chain validation that leaves BNB that cannot be scouted. As a result, the remaining BNB is 42,465,780.15 BNB, and the total supply is 142,465,780.15 BNB.
Understanding the role of BNB
BNB acts as a basic coin of the BNB chain ecosystem and plays an important role in power transactions for BNB Smart Chain (BSC), OPBNB L2S and BNB Greenfield Blockchain. In addition to promoting transactions, BNB acts as a governance token so that the holder can participate in the decentralized chain governance. It also serves as a definitive strategic preliminary asset for the BNB Executive TOTAL VALUE LOCKED campaign, which aims to draw ecosystem growth.
Since the launch of Mainnet on April 18, 2019, BNB has been converted from Etherrium to BNB Chain to implement the “Build and Build” philosophy. Automatic burnt mechanisms are the main features designed to gradually reduce the total supply to 100 million BNB by adjusting the price of BNB and the number of blocks generated by the BSC every quarter.
Burn mechanism
BNB automatic burnt mechanisms are independently grateful and objective processes separately from the Binance central response exchange. The image figures are reported quarterly and the process is transparent to the community. The burn in this quarter was in BSC and was sent to the “Black Hall” address for that BNB was removed from the circulation.
BNB also uses real -time combustion mechanisms based on gas fees. The BSC validation device determines the ratio of the gas fee collected from each block and then burns at a fixed speed. After the implementation of the BEP95, this method has burned about 248,000 BNB.
Pioneer
The BNB Pioneer Burn program helps users to recover lost BNB and Pegged tokens due to honest mistakes. The program deals with these losses through quarterly token video events and adds additional security and user support classes in the ecosystem.
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