BNB developers proposed to burn some of the commissions by analogy with Ethereum

In the event that the offer is accepted, 10% of all fees on Binance Smart Chain will be burned.

The developers who posted the proposalbelieve that Binance Smart Chain should implement a regular token burning mechanism similar to EIP-1559 on the Ethereum network. The proposal is under development, the voting has not started yet.

Burning – this is sending tokens to inactive addresses. No one can use these tokens, so they are considered withdrawn from circulation or destroyed. 

The development team proposes to burn 10% ofall commissions. On average, Binance Smart Chain users spend about 6,814 BNB ($ 3.4 million) in commissions per day. This means that the new mechanism will burn approximately 681 BNB ($ 334,000) per day.

It should be noted that Binance Smart Chain is alreadyconducts regular token burnings. During the latter, 1,335,888 BNB ($ 659 million) were destroyed. As a result, the exchange plans to burn half of the total BNB supply.

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Based on materialswww.theblockcrypto.com