Cryptocurrency exchange Binance implemented its first-ever binance token (BNB) auto-burn program last quarter, removing over 1.6 million BNB tokens worth $750 million from circulation.Under the new program, the number of tokens to be burned is arrived at using a formula based on the total number of blocks produced on the Binance Smart Chain, a programmable blockchain powering … [Read more...] about Binance Destroys 1.6M BNB Tokens in First-Ever Auto Burn
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Binance introduces BNB Auto-Burn to replace quarterly burn protocol
Binance officially announced the implementation of a new BNB Auto-Burn protocol to replace their current quarterly burn mechanism. In response to the requests of the BNB community, Binance changed its quarterly burning protocol for BNB tokens. According to Binance, this will provide more “transparency and predictability” to its community. With this, BNB will be burned … [Read more...] about Binance introduces BNB Auto-Burn to replace quarterly burn protocol
Opensea causes 10% of all Ethereum burn as sales jump 100% in 24 hours
After all of the highs surrounding NFTs for most part of the year, the nascent crypto niche is witnessing a downturn in its trading volume which is currently at a three-month low.However, despite the belief of some analysts that the space is currently in a bear market, OpenSea, the largest NFT marketplace, has contributed to around 10% of all Ether burns since the launch of … [Read more...] about Opensea causes 10% of all Ethereum burn as sales jump 100% in 24 hours
Dfyn to burn $50 million worth of tokens and change vesting for investors
Dfyn Exchange, one of the earliest AMM DEXs built on Polygon has announced a new tokenomics upgrade to its DFYN tokens which would see over $50 million worth of the asset burnt by the network.Today, $DFYN has turned 6 months old!We are introducing some major tokenomics changes: – https://t.co/8Nkp0M614z1.) 20% $DFYN tokens across all categories will be burnt. ❤️?❤️?2.) Seed … [Read more...] about Dfyn to burn $50 million worth of tokens and change vesting for investors
Terra Passes Highly Anticipated Proposal to Burn Nearly 89M LUNA
The Terra community on Tuesday night passed a popular proposal to burn about 88.7 million terra (LUNA) tokens, worth roughly $4.5 billion at current prices, and mint about four million to five million UST stablecoins, a decision that should further boost the Terra project, according to analysts. Source link … [Read more...] about Terra Passes Highly Anticipated Proposal to Burn Nearly 89M LUNA