Binance deletes 1.6 million tokens in his 18th quarterly BNB-Burn
Binance deletes 1.6 million tokens in his 18th quarterly BNB-Burn
6296 of the burned tokens were adapted from the BNB Pioneer Burn Program
Binance 18. Quarterly fire of its native BNB token saw the highest dollar value in tokens that were deleted from the network. The leading stock exchange announced yesterday that it took over a total of 1,684.11 BNB, which, according to the written of this article, had a value of around 798,079,000 USD Market dates . In comparison, in the 17th burn in October 1,335,888 BNB worth $ 639,462,868 at the time of the burn, and the 15th, which set more than 3 million tokens, did not achieve the deleted value of $ 600 million
of the burned tokens were 6296,305493 tokens that were removed via the BNB Pioneer Burn Program. The program is a bony initiative to cover customer losses in selected cases in which tokens are incorrectly sent to dead wallets. The tokens used to compensate for user losses are counted as part of the burn.
The auto-burn mechanism celebrates its debut
The 18th quarter of the burn was also the first time that Binance enforced its auto-burn mechanism. Last month the exchange introduced by the BNB Auto-Burn-Mechanism To replace the burn method.
Binance said that the new method offers users better predictability and transparency. In addition, the mechanism is independent of income that BNB generates on the centralized stock exchange of Binance.
"The implementation of BNB Auto-Burn is a natural next step on the way from BNB and will help the BNB community to grow by offering more autonomy, transparency and predictability", said Zhao.
Burning sends token to unreachable wallets and effectively eliminates them from circulation within the network. Binance has burned token for three years since the introduction of BNB token. At that time, the stock exchange undertook to burn 50 % of its total BNB stock to achieve 100 million tokens.
Binance Coin is still a deflationary sign
In addition to the messages, the CEO of Binance, Changpeng Zhao, tweeted to the users and reminded them that BNB is a deflationary sign.
"729 million US dollar burned. BNB is deflationary." The Post read.
The burning of token is considered deflationary, since it ideally gives the token a value. The expected increase in value results from the idea that a reduction in the offer of a token makes it resistant.
Despite the expectation that the announcement would drive up the price of the BNB token, it is still declining. BNB is trade at 469.45 $, which corresponds to a decrease of 3.14 % compared to Monday at the time of printing.
.
Source: Coinlist.me
Kommentare (0)