Here’s what the new BNB auto-burn protocol could mean for BNB’s price and BSC
ambcrypto.comIn the time you go to bed tonight and wake up tomorrow morning, more than 100 Binance Coin [BNB] will have been burned. Coin burns are an important way for blockchains to reduce the circulating supply and raise the value of coins or token by making them more scarce.
While Ethereum might be the first to come to mind, Binance also made headlines after announcing it would implement BEP-95 to burn some of the gas fees in real time.
Now, there’s a sequel.
On 23 December, Binance announced that it would be introducing the BNB Auto-Burn protocol. This would take the place of the quarterly burning mechanism and instead introduce a burn amount that would automatically change based on the price of BNB, using a set formula. The official release stated,
“G
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