Crypto Live News
Author: Mustafa Mulla
Mustafa Mulla 
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Oct 16, 2023 12:35
Binance has implemented a new protocol called BNB Auto-Burn to reduce the total supply of its native token, Binance Coin (BNB), and increase its value over time. Binance will use 20% of its quarterly profits to buy back BNB, which will then be burned automatically without any manual intervention. The latest quarterly burn, which took place on April 18, 2022, involved 2,139,182.98 BNB, including 314.69 BNB effectively burned via the Pioneer Burn Program. The auto-burn protocol ensures transparency and security and aims to make BNB more valuable to users, investors, and traders.
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