What You Need to Know About the BNB Burn

$BNB #bnbburn BNB is the cryptocurrency that fuels the BNB Chain ecosystem. It acts as the native coin of the BNB Beacon Chain, the BNB Smart Chain, and the opBNB L2s and BNB Greenfield blockchain. It also serves as a governance token and allows holders to transact with projects built on those chains.

When BNB was launched in 2017, a commitment was made to remove 100 million BNB (half of its total supply) from circulation through a burning process. This ultimately will keep only 100 million BNB in circulation. This commitment is automatically honored each quarter and calculated according to the Auto-Burn formula. 

The BNB Auto-Burn provides an independently auditable, objective process. The figures are reported quarterly, and the mechanism is independent of the Binance centralized exchange. On top of that, BNB Chain continues to burn a portion of BNB Chain’s gas fees in real-time using the Real-Time-Burn mechanism.