BNB Chain Burns $916 Million Worth of Tokens in Latest Incineration Event

BNB Chain has completed its 31st quarterly token burn, permanently removing 1,579,207.716 BNB from circulation — a haul worth approximately $916 million at the time of the event.

BNB Chain has just completed its 31st quarterly token burn, resulting in the permanent destruction of 1,579,207.716 BNB tokens. According to the chain's announcement, the burn occurred around 10 minutes prior to the post.

The total value of the burned BNB tokens at the time of the event is approximately $916 million.

The new burn is part of BNB Chain's automatic quarterly token reduction mechanism, a crucial deflationary policy aiming to gradually decrease the overall BNB supply to 100 million tokens.

The BNB tokens to be burned are determined using an algorithmic formula that takes two main variables into account:

The automatic token burn model was introduced in November 2021, replacing BNB's previous manual burning approach. This transition brought predictability and objectivity to BNB's supply management, closely aligning it with the network's performance.

Each burn cycle supports:

As the BNB supply approaches its fixed cap of 100 million tokens with every burn, it reinforces the confidence in the token's economic design.

BNB Chain is one of the most visible infrastructures in the decentralized ecosystem, powering both BNB Smart Chain and BNB Beacon Chain, supporting thousands of decentralized applications and processing millions of transactions daily.

This token burn further highlights BNB's dedication to maintaining a healthy and valuable token economy, aligning its long-term interests with that of the broader crypto market and Web3 space.