30th BNB Burn

The BNB Foundation has officially announced the successful completion of the 30th quarterly BNB token burn by BNB Chain. 

Here are the facts and figures from the latest burn:

• Total BNB burned: 1,634,200.95 BNB
  • This total includes two components:
    • Actual burn (Auto-burn - Pioneer Burn): 1,524,200.95 BNB 
    • BNB burned in Pioneer Burn as explained below: 110,000 BNB 
• Approximate value in USD at the time of burn completion: ~$1.16B
• Transaction ID (TXID) for BNB burn: View transaction
• BNB burned from the Pioneer Burn Program: 110,000 BNB. To facilitate the BNB Fusion, the BNB Beacon Chain validators left a total of 110,000 BNB of their self-staked BNB on Beacon Chain, which is now unrecoverable. This amount can be considered as burned and validators are compensated through the Pioneer Burn Program. As a result, the actual burn on-chain for this quarterly Auto Burn will be 1,524,200.95.
• Remaining to be burned: 42,465,780.15 BNB
• Remaining total supply: 142,465,780.15 BNB

What You Need to Know About the BNB Burn 

BNB is the native coin of the BNB Chain ecosystem, essential for powering its multifaceted Web3 environment. It supports transactions on the BNB Smart Chain (BSC), the opBNB L2s, and BNB Greenfield blockchain. Besides transaction fees, BNB serves as a governance token, granting holders the ability to participate in the BNB Chain’s decentralized on-chain governance. Besides transaction fees, BNB serves as a governance token, granting holders the ability to participate in the BNB Chain’s decentralized on-chain governance. Additionally, BNB functions as a strategic reserve asset and plays a critical role in the BNB Executive Total Value Locked (TVL) campaign, driving ecosystem growth and incentivizing adoption.  

Following its mainnet launch on April 18, 2019, BNB transitioned from the Ethereum Network to BNB Chain. "Build and Build" is the philosophy behind BNB, reflecting its role in fostering development within the ecosystem. BNB employs an Auto-Burn system to gradually reduce its total supply to 100,000,000 BNB. The burn amount is adjusted based on BNB's price and the number of blocks generated on BSC during a quarter, ensuring transparency and predictability. 

BNB Auto Burn

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. 

This quarter's burn and future burns will occur directly on BSC due to the BNB Chain Fusion. The corresponding BNB amount will be sent to the "blackhole" address: 0x000000000000000000000000000000000000dEaD.

BNB Real-time Burn

Additionally, BNB implements a real-time burning mechanism based on gas fees. BSC validators determine the ratio of gas fees collected in each block, which is burned at a fixed rate. Since the introduction of BEP95, roughly 248K BNB has been burnt under this mechanism.

Pioneer Burn Program

The BNB Pioneer Burn Program helps users recover lost BNB and pegged tokens due to honest mistakes, by covering these losses through their quarterly token burn events.

Further Reading 

• 29th BNB Burn
• Design Mechanisms of the BNB Token
• What is BNB
• BNB Utilities: From CeFi, to DeFi and PayFi)
• Real-Time Burning Mechanism
• What is BNB Greenfield?
• What is opBNB?