- The BNB Foundation completed its 27th quarterly token burn.
- Approximately 1,944,452.51 BNB were removed from circulation, valued at about $1.17 billion.
- The BNB Chain now sends tokens scheduled for destruction to a ‘blackhole’ address.
Recent reports from the BNB Foundation reveal that it has completed its 27th quarterly token burn. According to its official website, 1,944,452.51 BNB, valued at approximately $1.17 billion, has been removed from circulation. This move is part of a systematic effort to reduce the total supply of BNB used across the BNB Smart Chain (BSC), the opBNB L2s, and the BNB Greenfield blockchain.
Launched in 2017, the foundation pledged to cut BNB’s supply by half through token burning. Ultimately, BNB aimed to maintain a circulation of just 100 million coins to stabilize and potentially increase its value. The foundation executes these burns automatically each quarter, using a predefined Auto-Burn formula.
In addition to the scheduled burns, the BNB Chain has updated its token burning mechanism, transitioning from the centralized quarterly Auto-Burn to a decentralized approach on the BSC. This shift is part of its ongoing BNB Chain…
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