20th BNB Burn | 5 years of CZ experience

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In this last quarter, upon our fifth anniversary, the third quarterly automatic burning of BNB took place. A total of 1,959,595.29 BNB, which is equivalent to 444,632,106 USD, was withdrawn from circulation. That includes 4,181.77 BNB that was burned from the Pioneer Burn program .

These are the facts and figures from our latest burn:

Total BNB burned: 1,959,595.29 BNB

Approximate value in USD: ~444,632,106 USD

BNB Burn Transaction ID (TXID): View Transaction

BNB burned from Pioneer Burn program: 4,181.77 BNB

Everything you need to know about burning BNB
Since the launch of BNB and Binance in 2017, Binance has committed to removing 100 million BNB, or half of the total supply, from circulation through a process called “burning.” The number of tokens removed is calculated automatically via the auto-burn formula , a burning mechanism that was introduced in the last quarter of 2021.

Previously, BNB burns reflected the usage of the tokens and the revenue generated on the centralized Binance exchange. However, after taking into account the opinions and comments of Ecuador Mobile Number List the community, the previous burning mechanism has been replaced by the automatic burning of BNB, with the aim of having a more objective process and completely independent of the centralized Binance exchange. As if that were not enough, BNB Chain will continue to burn a portion of BNB Chain's gas fees in real time .


CZ's perspectives and reflections for "the burning of our fifth anniversary"
At Binance we always focus on supporting the growth of the ecosystem. During this recession and throughout all market cycles, our goal is to continue building and investing in the sector and in projects to stimulate the adoption of cryptocurrencies and to continue growing the infrastructure.

Historically, bear markets have been great periods for focused, long-term-minded developers. Just look at Polygon during the 2018-2019 bear market as a prime example, which is one of the strongest companies in the Binance Labs portfolio. This time around, we remain optimistic about our ability to support founders looking to develop innovative and long-term solutions for our sector.
               


Looking back over the past five years, our hard work to adapt and evolve from a revolutionary startup to a respected global institution is evident. We have always put our users first and put them at the center of our core values ​​to ensure their interests and protection. We also want to underline our commitment to comply with regulations and achieve the highest standards together with regulators, legislators and industry players. We will continue to participate and support smart regulations that protect users and foster innovation in a sustainable way.

Looking ahead to the next five years, we have an incredible number of innovators working in our ecosystem who will do exciting things. Naturally, we will continue to collaborate with regulators to achieve our mutual goal of protecting users and consumers. We will also work to further establish the sector and to contribute to its adoption and legitimization as a responsible actor. The vision is clear, the goals are set, and Binance is more prepared than ever.

Legal notice : Investment in crypto assets is not regulated, may not be suitable for retail investors and the entire amount invested may be lost. It is important to read and understand the risks of this investment which are explained in detail at this location.