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Sujit Kumar
Nov 1, 2024
by Sujit Kumar

BNB Foundation Completes $1 Billion Token Burn to Boost Value

BNB Foundation

Table of contents

  1. Addressing BToken Adjustments in the Burn
  2. Progress Towards Targeted BNB Supply
    1. Future Burns on BSC as Part of BNB Chain Fusion
The BNB Foundation, responsible for the development of BNB Chain, has successfully completed its 29th quarterly token burn, valued at approximately $1.07 billion. This move is part of the foundation’s plan to reduce BNB’s total supply to 100 million tokens, a strategy aimed at creating a deflationary effect to support long-term value. The recent burn included 1,710,142.733 BNB in auto-burn tokens and an additional 62,569.63 BNB in BTokens.

Addressing BToken Adjustments in the Burn

BTokens consist of assets users bridged and sent to inactive addresses by mistake. These were previously reimbursed through the Pioneer Burn Program. The foundation clarified that some reimbursed BTokens, initially calculated as BNB, were inadvertently excluded from the last auto-burn but were included in this quarter’s burn, ensuring a transparent burn process.

Progress Towards Targeted BNB Supply

Following the burn, BNB’s circulating supply is now at 144,099,981.1, leaving approximately 43.5 million tokens to be burned in future quarters. The foundation BNB Chain it may adjust future burn amounts based on BNB’s price and the block production rate on Binance Smart Chain (BSC), providing predictability and transparency to the community.

Future Burns on BSC as Part of BNB Chain Fusion

The BNB Chain Fusion initiative will see future burns executed directly on BSC, as functionalities from BNB Beacon Chain are gradually migrated to BSC. Burned tokens will be sent to a “blackhole” address to permanently reduce supply and maintain BNB’s deflationary mechanism.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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$1 Billion BNB Foundation
BNB Foundation Completes $1 Billion Token Burn to Boost Value
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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