Everyone, don't forget Binance's quarterly auto-burn. If the rules haven't changed, it would be too boring not to secretly buy back and burn at this time.
The method is the scheduled quarterly burn conducted by Binance. In these burns, a specific number of BNB is repurchased from the open market and burned.
Last month, BNB completed its 29th quarterly burn, with a total of 1,772,712.363 BNB burned, valued at approximately 1.07 billion USD at the time of burning.
The quarterly burn is conducted using Binance's profits and is announced in advance. The specific amount of BNB to be burned depends on several factors, including overall profitability, BNB circulating supply, and the number of blocks generated each quarter.
What is BNB auto-burn?
BNB auto-burn was created simultaneously with the launch of Binance Chain and Binance Smart Chain, which was renamed to BNB Chain.
The auto-burn mechanism is designed to maximize the value of the BNB token and provide a sustainable and secure long-term growth plan for the BNB ecosystem.
The auto-burn still occurs once a quarter, but it is no longer solely based on Binance's trading volume.
The BNB auto-burn mechanism automatically adjusts the amount of BNB to be burned based on two factors:
BNB price
The number of blocks generated by BSC each quarter
The new BNB burn mechanism offers better transparency and is more predictable than previous quarterly burn methods. According to the Binance team, the new auto-burn mechanism will help stabilize BNB prices and protect them from significant volatility.
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