SBF considered Binance's quarterly BNB burn as an effective mechanism that adjusts its burn rate according to the asset's price.
Author:SBF considered Binance’s quarterly BNB burn as an effective mechanism that adjusts its burn rate according to the asset’s price.
earlier this week the latest burning of BNB, in which more than $740 worth of the asset was destroyed. Commenting on the event, company CEO CZ said this process makes BNB deflationary.that determines the burning and issuance rates of BNB tokens, noting that the yearly issuance of new coins is contingent on the asset’s price. The number of annually burnt tokens will come to approximately 7.142M.
SBF saw BNB’s burn rate as constantly adjusted along with its price. If its price goes up beyond $1,000 per coin, 10M tokens will be burnt each year, equivalent to $10B being wiped out of the market.
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