{"id":55122,"date":"2021-12-23T14:05:53","date_gmt":"2021-12-23T12:05:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55122"},"modified":"2025-09-03T23:47:44","modified_gmt":"2025-09-03T20:47:44","slug":"binance-abandons-manual-bnb-burning-in-favour-of-new-auto-burn-algorithm","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-abandons-manual-bnb-burning-in-favour-of-new-auto-burn-algorithm\/","title":{"rendered":"Binance Abandons Manual BNB Burning in Favour of New Auto-Burn Algorithm"},"content":{"rendered":"<p>The cryptocurrency exchange Binance has abandoned the concept of quarterly burning of Binance Coin (BNB) tokens in favour of an automatic burn mechanism, Auto-Burn.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Introducing <a href=\\\"https:\/\/twitter.com\/hashtag\/BNB?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BNB<\/a> Auto-Burn: a new protocol for quarterly <a href=\\\"https:\/\/twitter.com\/hashtag\/BNB?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BNB<\/a> burns.<\/p>\n<p>\u27a1\ufe0f <a href=\\\"https:\/\/t.co\/ME2c8Nv5hZ\\\">https:\/\/t.co\/ME2c8Nv5hZ<\/a> <a href=\\\"https:\/\/t.co\/AYP0C9Jlso\\\">pic.twitter.com\/AYP0C9Jlso<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\\\"https:\/\/twitter.com\/binance\/status\/1473654900424912899?ref_src=twsrc%5Etfw\\\">December 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>Under the quarterly burn programme, Binance pledged to burn 100 million tokens \u2014 half of the total supply. As of the most recent quarter at the time of writing the event, the company burned 1,335,888 BNB, and in total more than 31 million BNB (~$16.3 billion at the current rate).<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The Auto-Burn mechanism is designed to provide greater transparency to this process. The algorithm does not take into account the revenues generated by the Binance exchange; it is based solely on the price of BNB and the number of blocks mined during the quarter.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The higher the price of BNB, the fewer tokens the mechanism will burn. The programme will be wound down once the total number of burnt coins reaches the previously stated 100 million.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"636\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/bnb-burn-1024x636.png\\\" alt=\\\"Binance abandons manual BNB burning in favour of new algorithm\\\" class=\\\"wp-image-159902\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/bnb-burn-1024x636.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/bnb-burn-300x186.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/bnb-burn-768x477.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/bnb-burn.png 1144w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Projected quarterly amount of Auto-Burn tokens burned. Data: <a href=\\\"https:\/\/www.binance.com\/en\/blog\/ecosystem\/introducing-bnb-autoburn-a-new-protocol-for-the-quarterly-bnb-burn-421499824684903205\\\">Binance<\/a>.<br \/><\/figcaption><\/figure>\n<p>\\n\\n\\n\\n<\/p>\n<p>In November, <a href=\"https:\/\/forklog.com\/en\/news\/bruno-hard-fork-on-the-binance-smart-chain-has-taken-place\">Bruno hard fork took place<\/a> on the Binance Smart Chain, under which a mechanism for burning a fixed share of gas in each block was activated.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>.<\/p>\n<p>\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance has abandoned the concept of quarterly burning of Binance Coin (BNB) tokens in favour of an automatic burn mechanism, Auto-Burn.<\/p>\n","protected":false},"author":1,"featured_media":55123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1307],"class_list":["post-55122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-bnb-chain"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=55122"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55122\/revisions"}],"predecessor-version":[{"id":55124,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55122\/revisions\/55124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/55123"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=55122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=55122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=55122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}