Crypto News

Binance is replacing Quarterly Burn with a BNB Auto-Burn mechanism

                                                            Der Cryptowährungs-Börsenriese Binance kündigte die Implementierung eines neuen BNB-Auto-Burn-Mechanismus an.
  • The aim is to offer the BNB community more transparency and predictability.
  • BNB Auto-Burn is also said to work with Binance Smart. the development of a “healthy Blockchain-Ecosystems “promote Chain (BSC) and Binance Coin (BNB) communities.
  • According to the official blog post, the new system called “BNB Auto-Burn” will have two properties. It will be objective and verifiable. It will not rely on the revenue generated on Binance’s centralized exchange through the use of the native token.
  • Instead, it is automatically adjusted based on the price of BNB to burn the amount. This, in turn, takes into account supply and demand for the token in addition to the number of blocks produced during a quarter based on on-chain data.
  • With the launch of BNB Auto-Burn, Binance announced that the next phase in the development of its native tokens and BSC has begun.
  • Crypto potato previously reported on Binance Smart Chain starts its automatic burning mechanism.
  • After activation of BEP-95, which is concerned with integrating a real-time burning system into its tokenomic structure, a fixed proportion of the gas charges accumulated by the validators in the BSC ecosystem will be burned in each block.
  • The main goal is to speed up Binance’s burning process while decentralizing the network.
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Source: Crypto News Deutsch

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