πŸ”₯ Binance burning a lot of BNB tokens!

in HODL β€’ last month

Hello!

I've been interested in the BNB token for some time. I don't believe that Binance is a perfect exchange, in fact, I don't agree with some of their actions, but they are a beast at marketing.
They know how this universe works, and know how to handle marketing and getting attention.

Since its inception in July 2017 their token BNB has risen 43,000%. And I believe it will continue to do so in the future. Specially with the creation of BSC, the Binance Smart Chain that is now handling 40% of the Ethereum operations in less than 6 months of their inception.

Amazing numbers, but now let's take a look at the tokenomics of the BNB token, which are very important for the appreciation in price.

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Allocation

There will be a total of 200 Millions of coins, and they will be distributed following this allocation:

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Besting plan for the team

  • Initial release 20% (16 Millions)
  • After 1 year: 20% (16 Millions)
  • After 2 year: 20% (16 Millions)
  • After 3 year: 20% (16 Millions)
  • After 4 year: 20% (16 Millions)

If I am not wrong there are just 16 Millions of BNB that will be unlocked for the team this 2021. After that all the unlocking period will be finished, something really good for the supply.


Repurchasing plan and burning

Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.

Today they have burned 3,619,88 tokens, which represent a 1,81% of the supply. Their value is 165 Millions of USD and is the highest burn to date by value, almost 2,5 times more than the last one.

Here you have the details:

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Source

They have already burned almost 30 Millions of tokens from the 100 Millions that will be burned.
With this πŸ”₯, the total supply of BNB has officially decreased from 174,152,713 BNB to 170,532,825 BNB. The goal is too burn the supply down to 100 Million and then let the party begin!

Enjoy! 😊


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Curios how this affects the price of BNB. I am really bullish on BNB anyway.

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