BNB Foundation Completes $1.07 Billion Quarterly Token Burn

• The BNB Foundation completed its 29^th quarterly token burn.
• The event removed over $1 billion worth of BNB from circulation.
• The foundation will execute other burns in the future.

The BNB Foundation, the non-profit organization supporting BNB Chain’s development, has completed a billion-dollar token burn, a significant event in the network’s lifecycle.

The development is part of the foundation’s quarterly BNB burns to gradually reduce the token’s total supply to 100,000,000 BNB and create a deflationary mechanism that supports its value over time. It came after the 28^th quarterly burn on July 22, which removed 1,643,698.8 BNB tokens (worth $971 million at the time) from circulation.

29^th Quarterly BNB Token Burn

The BNB Foundation said in a Friday blog post that it had executed its 29^th quarterly token burn on the BNB Chain. This included an auto-burn of 1,710,142.733 BNB and an additional burn of 62,569.63 BNB in BTokens, bringing the event’s total value to $1.07 billion.

BTokens include bridged crypto assets users sent to inactive addresses “due to honest mistake.”

“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,” the post read.

According to the post, the remaining BNB supply after the burn is 144099981.1, leaving about 43,533,387.84 tokens to be burned later. The foundation said the burn amount could be adjusted based on BNB’s price and the number of blocks generated on BSC to ensure transparency and predictability.

Additionally, future burns will occur directly on the BSC network due to the ongoing BNB Chain Fusion, a strategic migration of the BNB Beacon Chain’s functionalities to BSC. The corresponding BNB amounts will be sent to a “blackhole” address.

Stay updated on a previous BNB token burn:
Binance Axes Over 2M BNB Tokens in Latest Token Burn

Read about Scroll’s partnership with Binance:
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