<p>BNB Chain has completed its 22nd BNB burn and first quarterly burn of 2023. The burn includes the Auto-Burn as well as the<a href="https://www.binance.com/en/support/announcement/7bcf4da5671d44a0a5118c2277773bb4" rel="noopener noreferrer nofollow"> Pioneer Burn Program</a>.</p><p>Here are the facts and figures from the latest burn:</p><p>Auto-Burn (Total BNB burned): 2,064,494.32 BNB</p><p>Approximate value in USD: $575,458,677.66</p><p>Transaction ID (TXID) for BNB burn: <a href="https://explorer.bnbchain.org/tx/34167E903B9F662A64817266D8A6CE4FE096868DAD0B883E4F838331E280EEFF" rel="noopener noreferrer nofollow">View transaction</a></p><p>BNB burned from the Pioneer Burn Program: 7,181.03 BNB</p><p>Real Burn (Auto-Burn - Pioneer Burn): 2,057,313.29 BNB</p><h3 id="what-you-need-to-know-about-the-bnb-burn">What You Need to Know About the BNB Burn</h3><p>When BNB was launched in 2017, a commitment was made to remove 100 million BNB (half of its total supply) from circulation through a burning process and to eventually keep only 100 million BNB in circulation. This commitment is automatically honored each quarter and calculated according to the<a href="https://www.binance.com/en/blog/ecosystem/introducing-bnb-autoburn-a-new-protocol-for-the-quarterly-bnb-burn-421499824684903205" rel="noopener noreferrer nofollow"> Auto-Burn formula</a>.</p><p>The BNB Auto-Burn provides an independently auditable, objective process. The figures are reported quarterly, and the mechanism is independent of the Binance centralized exchange. On top of that, BNB Chain still continues to<a href="https://academy.binance.com/en/glossary/bep-95" rel="noopener noreferrer nofollow"> burn a portion of BNB Chain’s gas fees in real-time</a> using the Real-Time-Burn mechanism.</p><p><em>To learn more about the BNB Burn, check out <a href="https://academy.binance.com/en/articles/what-is-bnb-auto-burn" rel="noopener noreferrer nofollow">this article</a> on Binance Academy.</em></p><h3 id="pioneer-burn-to-protect-users">Pioneer Burn to Protect Users</h3><p>The Pioneer Burn Program also permanently removes an amount of BNB from circulation equal to provable lost funds by eligible BNB Chain users. This number is then counted towards the total quarterly burn figure. More details can be found <a href="https://www.binance.com/en/support/announcement/7bcf4da5671d44a0a5118c2277773bb4" rel="noopener noreferrer nofollow">here</a>.</p><p>When it comes to the Pioneer Burn, BNB Auto-Burn, and Real-Time-Burn (<a href="https://github.com/bnb-chain/BEPs/blob/master/BEP95.md" rel="noopener noreferrer nofollow">BEP95</a>) mechanisms, nothing has changed from the 21st BNB burn. Again, all of these are transparent and independently verifiable.</p><p>Since the introduction of BEP95, over 145,000 BNB has been burnt under this mechanism.</p><h3 id="cross-chain-bridge-hack">Cross-chain Bridge Hack</h3><p>In the last quarter, there was an incident affecting the BNB burn. On October 7, 2022, the BSC Token Hub bridge was exploited, and an extra supply of roughly two million BNB was minted. This increased BNB’s maximum supply to 202 million, but <a href="https://bscscan.com/address/0x489a8756c18c0b8b24ec2a2b9ff3d4d447f79bec" rel="noopener noreferrer nofollow">1.02 million</a> was locked following a vote by the BNB Community’s validators and then burnt. And the rest will be burned through the usual burning process.</p><p>You can find the real-time BNB burning information on bnbburn.info, a third-party website built by the BNB community. The site is also a good resource for <a href="https://bnbburn.info/circulation-supply-calculation" rel="noopener noreferrer nofollow">learning more about the current BNB circulation</a>.</p><h3 id="erc20-bnb-migration">ERC20 BNB Migration</h3><p>Since the launch of native BNB blockchains, there have been processes to migrate the ERC20 version of BNB to the native (BEP2) version.</p><p>However, some holders still held onto the ERC20 versions, totaling roughly 16m ERC20 BNB which remained unconverted during the early migration. Binance.com has kept accepting deposits of BNB in (older) ERC20 and only allowed withdrawals in BEP2. This allows the ERC20 version to accumulate on the exchange.</p><p>Most of the outstanding 16m ERC20 BNB have, in fact, now been deposited to Binance.com. As such, Binance will swap all the ERC20 BNB in its Ethereum wallets into BEP2 BNB. The process involves burning the ERC20 BNB and releasing the equivalent amount from the <a href="https://explorer.bnbchain.org/address/bnb1ultyhpw2p2ktvr68swz56570lgj2rdsadq3ym2" rel="noopener noreferrer nofollow">native BNB mint address</a>.</p><p>Importantly, the burning of these ERC20 tokens will not be counted towards the quarterly burn, affect BNB’s overall circulation, or change the total circulation of BNB.</p><p>With 2023’s first burn completed, we turn to the rest of the year and its opportunities. Looking at market health, I hope and expect the industry to continue building for the long term and the path towards recovery.</p><p>Keep building.</p><p>CZ</p><h3 id="follow-us-to-stay-updated-on-everything-bnb-chain">Follow us to stay updated on everything BNB Chain!</h3><p><a href="https://www.bnbchain.org/en" rel="noopener noreferrer nofollow">Website</a> |<a href="https://twitter.com/BNBCHAIN" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://twitter.com/BNBChainDevs" rel="noopener noreferrer nofollow"> Twitter (Devs)</a> |<a href="https://t.me/bnbchain" rel="noopener noreferrer nofollow"> Telegram</a> |<a href="https://dappbay.bnbchain.org/" rel="noopener noreferrer nofollow"> dApp Store</a> |<a href="https://www.youtube.com/&#64;BNBChainOfficial" rel="noopener noreferrer nofollow"> YouTube</a> |<a href="https://discord.gg/bnbchain" rel="noopener noreferrer nofollow"> Discord</a> |<a href="https://www.buildnbuild.dev/" rel="noopener noreferrer nofollow"> Build N&#39; Build Forum</a> |<a href="https://bnbdev.community/" rel="noopener noreferrer nofollow"> Dev Community</a>|</p>

22nd BNB Burn

विषयसूची

BNB Chain

1 फ़र॰ 2023 को प्रकाशित अन्य लेख

BNB Chain Initiative in India #BuildInBharat

Cosmos Vs Polkadot – Which is Best?

Partnership with KOMOVERSE!

📈 The AstraProtocol $ASTRA token trading is live on: KuCoin, MEXC and Gate.io

ImmutableX's Says New Passport Will Bring More Web3 Gamers, Developers to Platform

Sweat Hero roadmap

रोजाना क्रिप्टो अपडेट पाने के लिए हमारे मुफ्त न्यूजलेटर से जुड़ें!