Binance announced that Binance Coin (BNB) has switched to automatic burning mechanism.
In the article published on the Binance official blog page:
End Over the past few years, the blockchain ecosystem has evolved in many ways as a result of user feedback. Following the work of many human-supported projects, BNB embarked on its own evolutionary journey to innovate further. As Binance, new “BNB Auto-Burn” We are proud to announce the implementation of the mechanism.
said.
Stating that it will switch to automatic burning in order to ensure more transparency in BNB, which will be burned quarterly, Binance announced that this burning amount will be adjusted automatically as it will be based on the BNB price.
The formula for this automatic burning mechanism is:
was determined as.
*B: amount of BNB to be burned, *N: the total number of blocks produced in the BSC during the quarter, *P: the average price of BNB against the dollar and *C: initially 1,000 a price set to (The value of K is a BSC community vote may change via reflects.