That Chinese Guy Burns 💥 it all

GM Guys and Gals,

China is currently portrayed as the Global Enemy but on the other hand, this Chinese genius acted as a Superhero and exposed Scam Bankman Fried. Yes, you guessed it right I'm talking about Changpeng Zhao 💪🏻

BNB Chain has completed the burn of over $575 million worth of its native BNB tokens as part of a broader program.

Token burn refers to the process of permanent deletion of coins from their circulating supply. Over 100 million BNB, or half of its total supply, are intended to be removed from circulation through a burning process and to eventually keep only 100 million BNB in circulation. This commitment is automatically honoured each quarter and calculated.

The BNB Auto-Burn provides an independently auditable, objective process. The figures are reported quarterly, and the mechanism is independent of the Binance centralized exchange. BNB Chain still continues to burn a portion of BNB Chain’s gas fees in real-time using a bespoke mechanism.

Short and Crisp. That's it for the day, Web3Shala 👋

To the Moon 🪐LFG 🚀