Going forward, Binance will be implementing a new automated protocol for removing Binance Coin (BNB) tokens from circulation–replacing the old quarterly burn procedure.
The last BNB quarterly burn removed 1.335.888 tokens from circulation, according to the crypto exchange’s official blog announcement.
Effective immediately
According to the announcement, the decision to implement the new BNB auto-burn procedure was based on Binance Smart Chain (“BSC”) and BNB communities’ feedback.
Introducing #BNB Auto-Burn: a new protocol for quarterly #BNB burns.
https://t.co/ME2c8Nv5hZ pic.twitter.com/AYP0C9Jlso
— Binance (@binance) December 22, 2021
As the native cryptocurrency, BNB fuels the transactions on the BSC blockchain, while its governance utility enables participation in decentralized on-chain decision-making.
BNB tokens are being removed from circulation by the two main burn mechanisms–the real-time burn and the quarterly burn.
As introduced in BEP95, a portion of the
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