Binance has announced plans to replace the traditional BNB token burning every quarter with a new process called “BNB Auto-Burn.”
The aim of this change is to bring greater transparency and predictability to the BNB community, to be more transparent and accountable, independent and to not rely on the revenue generated on Binance CEX.
It is automatically adjusted where the burn volume depends on the price of the BNB, in turn reflecting the supply and demand of the token. as well as the number of blocks produced during the quarter is calculated from data on the network.
With the release of BNB Auto-Burn, Binance revealed that the next step in the development of the original token and BSC has begun.
Previously about Binance Smart Chain justdebutThe automatic burning mechanism “BEP-95” involves integrating the real-time burning system into the token structure. By a fixed ratio of fees accumulated by validators in the BSC ecosystem will be burned on each block.
Binance CEO CZ said: “This is a huge step forward for BNB to move closer to a DAO structure than being just a ‘coin exchange’.
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. https://t.co/4DTM5ZRUD8
— CZ
Binance (@cz_binance) December 22, 2021
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