ICYMI: Latest ‘auto-burn’ removes $480 million worth of BNB from circulation
BNB Chain’s token burning events are not new. The latest one marks the 24th burn since the program’s inception in late 2017. To date,Each quarter, the amount of BNB tokens to be burned is determined by an algorithm, taking into account variables such as the token’s current price and network activity.
The BNB Chain also burns a portion of its real-time gas fees in a manner similar to Ethereum, but this is distinct from its quarterly auto-burn events.Created by the centralized cryptocurrency exchange, Binance, the BNB token has evolved beyond its initial purpose on the platform.
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