Binance introduces BNB Auto-Burn to replace quarterly burn protocol By Cointelegraph

Binance introduces BNB Auto-Burn to replace quarterly burn protocol

CryptocurrencyDec 23, 2021 08:40AM ET

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Binance introduces BNB Auto-Burn to replace quarterly burn protocol

Binance officially announced the implementation of a new Binance Coin (BNB) Auto-Burn protocol to replace its current quarterly burn mechanism.

In response to the requests of the BNB community, Binance changed its quarterly burning protocol for BNB tokens. According to Binance, this will provide more “transparency and predictability” to its community. With this, BNB will be burned automatically based on a formula consisting of on-chain data of total blocks generated and the average price of BNB.

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