Binance Burns 2M BNB Tokens in 23rd Quarterly Burn
The 23rd quarterly BNB token burn has been successfully completed, according to a recent announcement by Binance. A total of 2,020,132.25 BNB were burned, with an additional 656.0230123 BNB burned via the Pioneer Burn Program. The BNB Auto-Burn procedure is a new protocol for quarterly BNB burns, which aims to enhance the overall value of the BNB token. Binance will continue to burn BNB tokens quarterly until 100 million tokens have been removed from circulation.
The 23rd quarterly $BNB token burn has been completed through #BNB Auto-Burn.
Here’s everything you need to know about the second quarterly burn of 2023 as well as some insight into what lies ahead for the BNB ecosystem ⬇️https://t.co/Oz5dFJ8kEE
— Binance (@binance) April 14, 2023
BNB Token Burn
The Binance Coin (BNB) is a cryptocurrency that is used to pay for fees on the Binance exchange, one of the world’s largest cryptocurrency exchanges. The quarterly BNB token burn is an important event for Binance, as it helps to increase the value of the BNB token by reducing the overall supply. The Pioneer Burn Program is a program that rewards users who are early adopters of new blockchain projects, with BNB tokens burned as part of the program.
BNB token holders can view the details of the 23rd quarterly burn on the Binance blockchain explorer, including the transaction ID. The Binance team has also provided more information on the BNB burn, including an explanation of the BNB Auto-Burn protocol and its benefits for BNB token holders.
Future Burns under Auto-Burn Protocol
The Binance team expressed their gratitude to their users for their ongoing support and reminded them that in the event of any discrepancies between the translated versions of their announcements and the original English version, the English version shall prevail.
The successful completion of the 23rd quarterly BNB token burn is a positive development for Binance and its users, as it helps to increase the value of the BNB token and maintain the platform’s position as a leading cryptocurrency exchange. Binance users can continue to look forward to future quarterly BNB token burns as part of the BNB Auto-Burn protocol.
