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31st BNB Burn
The BNB Foundation has officially announced the successful completion of the 31st quarterly BNB token burn by BNB Chain. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 1,579,207.72 BNB Approximate value in USD at the time of burn completion: ~$916.07MTransaction ID (TXID) for BNB burn: View transaction [https://bscscan.com/tx/0x9fbe14355cfa89ec524af1b4b8f3b9d3035f2fdabd6cd0db8a2f4c1b6b236bfc]Remaining to be burned: 40,886,572.43 BNBRemaining total supply: 139,311,899.514 BNB
2 min read
Infrastructure
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 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 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: ~$1.16BTransaction ID (TXID) for BNB burn: View transaction [https://bscscan.com/tx/0x6c36e62d0c2c62a963c2410bb8feec49c5ce562bdfdac1fb2dbfa3c190be374c]BNB burned from the Pioneer Burn Program: 110,000 BNB. To facilitate the BNB Fusion [https://www.bnbchain.org/en/bnb-chain-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 BNBRemaining total supply: 142,465,780.15 BNB
2 min read
Infrastructure
Tracking BNB Burn
The BNB Chain has recently undergone a significant upgrade called BC Fusion, streamlining its operations by merging the BNB Beacon Chain and BNB Smart Chain. While the BNB Beacon Chain validators have agreed to stop processing transactions, bnbburn.info remains your essential resource for tracking the BNB burn and circulating supply. Here's what bnbburn.info [http://bnbburn.info] offers: Continuous BNB Burn Monitoring: Even after BC Fusion, bnbburn.info will continue to provide real-time updates on BNB burn events, displaying the amount of BNB burned and the impact on the circulating supply.Comprehensive Burn History: Explore the complete history of BNB burns, including data from both before and after BC Fusion. This allows you to analyze trends and understand the long-term impact of the burn mechanism.Accurate Circulation Data: Access precise and up-to-date information on the circulating supply of BNB, a critical factor in understanding its market dynamics.Clear Explanation of the Burn Mechanism: Learn about the mechanics of the BNB Auto-Burn, which dynamically adjusts the burn amount based on BNB's price and activity on the BNB Smart Chain. Important Note: Although the BNB Beacon Chain will cease processing new transactions, its explorer [https://explorer.bnbchain.org/] will remain active for data query. This ensures continued transparency and access to historical information. bnbburn.info is committed to providing accurate and reliable information about the BNB burn, even after the BC Fusion. It remains your go-to source for understanding the evolution of BNB and its deflationary mechanisms.
1 min read
Infrastructure
29th BNB Burn
The BNB Foundation has officially announced the successful completion of the 29th quarterly BNB token burn by BNB Chain. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 1772712.363 BNB * This total includes two components: * 1,710,142.733 BNB for the Auto-Burn * 62,569.63 BNB as an additional burn for BTokens. Previously some BSC users had their BTokens (tokens bridged by Binance onto BSC) lost when they were sent to inactive addresses. These tokens were subsequently reimbursed through the Pioneer Burn Program. A portion of these reimbursed BTokens was originally calculated as BNB but was inadvertently excluded from the previous Auto-Burn. This amount has now been included in this quarter’s burn. This total includes two components:1,710,142.733 BNB for the Auto-Burn62,569.63 BNB as an additional burn for BTokens. Previously some BSC users had their BTokens (tokens bridged by Binance onto BSC) lost when they were sent to inactive addresses. These tokens were subsequently reimbursed through the Pioneer Burn Program. A portion of these reimbursed BTokens was originally calculated as BNB but was inadvertently excluded from the previous Auto-Burn. This amount has now been included in this quarter’s burn.Approximate value in USD around the time of burn: ~$1.07B Transaction ID (TXID) for BNB burn: View transaction [https://bscscan.com/tx/0x44df032bb1790ef26195d2b5a8a74b1ce03607ff627bbc02f096451b83250eae]BNB burned from the Pioneer Burn Program: NilThe rest to be burned: 43,533,387.84BNBThe rest of supply: 144099981.1 BNB
2 min read
Community
28th BNB Burn
The BNB Foundation has officially announced the successful completion of the 28th quarterly BNB token burn by BNB Chain. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 1,643,698.8 BNBApproximate value in USD around the time of burn: ~$971MTransaction ID (TXID) for BNB burn: View Transaction [https://bscscan.com/tx/0xd1c43cf12d721261f1e1ae2a50dc765eb9062322bc05cd53ada63700960fadde]BNB burned from the Pioneer Burn Program: Nil
2 min read
Community
27th BNB Burn
The BNB Foundation has officially announced the successful completion of the 27th quarterly BNB token burn by BNB Chain. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 1,944,452.51 BNBApproximate value in USD around the time of burn: ~$1.17BTransaction ID (TXID) for BNB burn: View transaction [https://bscscan.com/tx/0xcb7c733619b81875d1735a1ecc09d505d6881fbe722c65f5e8425b36237ea564]BNB burned from the Pioneer Burn Program: Nil
2 min read
26th BNB Burn
The BNB Foundation has officially announced the successful completion of the 26th quarterly BNB token burn by BNB Chain. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 2,141,487.27 BNBApproximate value in USD around the time of burn: ~$636MTransaction ID (TXID) for BNB burn: View transaction [https://explorer.bnbchain.org/tx/D1888295E904D5372E75D7E7FF9A901BD003075F712DF8E173ABBA2850E7E00B]BNB burned from the Pioneer Burn Program: 1542.15 BNBActual Burn (Auto-Burn - Pioneer Burn): 2,139,945.12 BNB
2 min read
22nd BNB Burn
BNB Chain has completed its 22nd BNB burn and first quarterly burn of 2023. The burn includes the Auto-Burn as well as the Pioneer Burn Program [https://www.binance.com/en/support/announcement/7bcf4da5671d44a0a5118c2277773bb4?ref=bnbchain.ghost.io]. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 2,064,494.32 BNB Approximate value in USD: $575,458,677.66 Transaction ID (TXID) for BNB burn: View transaction [https://explorer.bnbchain.org/tx/34167E903B9F662A64817266D8A6CE4FE096868DAD0B883E4F838331E280EEFF?ref=bnbchain.ghost.io] BNB burned from the Pioneer Burn Program: 7,181.03 BNB Real Burn (Auto-Burn - Pioneer Burn): 2,057,313.29 BNB
3 min read
BNB Pioneer Burn Program: Q2 2021 Review
In September last year, we introduced the BNB Pioneer Burn Program [https://www.binance.com/en/support/announcement/7bcf4da5671d44a0a5118c2277773bb4?ref=bnbchain.ghost.io], aiming to help eligible users who lost tokens due to human mistake, such as sending tokens to an incorrect address. In accordance with the initial announcement [https://www.binance.com/en/support/announcement/7bcf4da5671d44a0a5118c2277773bb4?ref=bnbchain.ghost.io], we will cover users’ losses for accepted cases and count the lost tokens under our quarterly BNB token burn activities instead. As of June 25th, 137 cases involving 15,953.87 BNB (roughly 4.59 million USD) have been covered by the BNB Pioneer Burn Program. All BNB was effectively burned in each quarterly BNB Burn.
1 min read
Binance Introduces the BNB Pioneer Burn Program, Adjusts BNB Token Burn Mechanics
Binance Smart Chain has attracted great enthusiasm and trust from the blockchain community since its launch on September 1, 2020. As the initiator and key participant of the developing Binance Smart Chain community, Binance has been enthusiastic in working with all developers, projects, and users in this exciting domain. We also recognize that these early adopters and brave pioneers take the risk and push the boundaries of innovation. As with all the other things in their early days, the Binance Smart Chain ecosystem (and the whole blockchain ecosystem in general) is at its early stages. Many functions are still not as user-friendly as they could be, and still require further development. For this part, we are working with many blockchain projects to improve these functions. A few days ago, we learned that one of the BNB holders mistakenly transferred 867 BNB (worth around $20,000 at the time) to a smart contract address, which nobody has control over, essentially deeming it lost. (The transaction can be spotted here [https://bscscan.com/tx/0x7118e11f86f03b35cf36f37d5f7681889d992d9897822b9d094a4de87206cddc?ref=bnbchain.ghost.io]). This is not an isolated case [https://twitter.com/Crypto_Plato/status/1303235432755294216?ref=bnbchain.ghost.io] when it comes to crypto transactions, especially those involving new blockchains, and we are sensitive towards honest mistakes that may lead to financial losses to BNB holders, users, and supporters. People say “Code is Law,” and we are fascinated about this concept. However, on the other side, we respect more of the spirit of law. Part of our mission on Binance is to bring more financial fairness and freedom. It’s more important for us to care about our customers and users. It is not consistent with our value system to simply ignore individual tragedies, especially if that individual is a blockchain pioneer who loves trying new things in the new Binance Smart Chain ecosystem. We believe that this common consideration has been recognized [https://twitter.com/cz_binance/status/1304700593441632257?ref=bnbchain.ghost.io] through the whole community. BNB is a fully decentralized crypto token, so we cannot move or touch the BNB in those addresses. That 867 BNB is lost, out of circulation, and cannot be spent forever. BNB is not inflationary, so nobody can print more BNB to compensate for their loss. Fortunately, you can burn BNB. Today we want to introduce a new logic for our token burn procedures: the BNB Pioneer Burn Program. We expect this to be accepted as the humane part in the world of decentralization and code. How the Pioneer Burn Works Binance.com is willing to exert its best effort to help the users who lose their assets in the following cases below: 1. The lost tokens are either BNB, “wrapped” tokens (e.g. WBNB), or “pegged” tokens (e.g. BTCB) supported via the Binance “Token Canal” Project; 2. The lost tokens are transferred to BEP20 contract addresses that are verified on bscscan.com, so that the loss can be publicly justified or recognized as moving the asset out of circulation and cannot be brought back forever; 3. The loss is from an honest mistake and is worth more than 1,000 USD, but is less than the projected BNB burn amount in the upcoming quarter. Binance will cover your losses for the cases accepted for this initiative, with the following steps: STEP 1: The user submits the case via Binance.com customer support channels. STEP 2: Binance investigates and confirms if the case is qualified for the program. STEP 3: Binance reserves the amount of the tokens needed for the case, and does the following: - For “pegged” tokens via our Token Canal project (tagged “Binance-Peg” as listed here [https://bscscan.com/tokens?ref=bnbchain.ghost.io]), Binance will mint extra corresponding tokens and send the tokens back to the originating address of the case (with fees deducted). This extra amount will not be counted as part of increased total supply. - For BNB, Binance will send BNB to the originating address of the case (with fees deducted). The number will be counted as part of the total BNB burned in the next quarterly burn. How will this affect our quarterly BNB burn events? Here’s a hypothetical example: Assume 1,000,000 BNB will be burned in the upcoming BNB burn event for the third quarter of 2020. However, before the event, we had returned 5,000 BNB to users through the BNB Pioneer Burn program. As a result, for our Q3 burn, we will burn 995,000 BNB instead (the original 1,000,000 BNB burn amount minus the 5,000 BNB that went to the BNB Pioneer Burn program). We understand accidents happen, especially when working with new and emerging technology. Through the Pioneer Burn program, we hope that early adopters will feel more supported by a growing community. We hope all our early adopters are encouraged to bring in more innovative products to the world.If you need help for losses like the one we explained above, please contact Binance 24/7 Customer Support [https://www.binance.com/en/support/?ref=bnbchain.ghost.io], and mention “Pioneer Burn.”
3 min read
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