For this past quarter, BNB completed its second quarterly BNB Auto-Burn. A total of 1,839,786.26 BNB, or the equivalent of $741,840,738.874 USD, was removed from circulation. This includes 9,403.78 BNB that was burned from the Pioneer Burn Program.
Here are the facts and figures from our latest burn:
Total BNB burned: 1,839,786.26 BNB
Approximate value in USD: ~$741,840,738.874 USD
Transaction ID (TXID) for BNB burn: View transaction
BNB burned from the Pioneer Burn Program: 9,403.78 BNB
Since the launch of BNB and Binance in 2017, Binance has committed to removing 100 million BNB, or half of the total supply from circulation, through a process called burning. The number of tokens removed is automatically calculated according to the Auto-Burn formula. This burn mechanism was introduced in the last quarter of 2021.
Previously, BNB burns reflected the tokens’ usage and revenue generated in the Binance centralized exchange. As a result of the community’s feedback, the BNB Auto-Burn has replaced the previous burn mechanism in favor of a more objective process independent of the Binance centralized ecosystem. That being said, BNB will still continue to burn a portion of BNB Chain’s gas fees in real-time.
The real-time BNB burning information can be found here.
