This is another big step for BNB Chain in reducing the circulating supply of the token. The BNB Foundation has announced that the 27th quarterly BNB token burn has been completed and is officially successful.
The BNB Foundation Announces Completion of the 27th Quarterly Token
These are important and critical details from the final cremation:
Total BNB Burned: 1,944,452
Approximate value in US dollars at the time of burning: US$1.17 billion
Transaction ID (TXID) for BNB burning: (Link not provided for privacy and security reasons)
BNB is the native coin of BNB Chain. It empowers all functionalities present in the respective chains, for example, BNB Smart Chain (BSC), opBNB L2s, and BNB Greenfield blockchains.
BNB is a utility token, governance asset, and transaction tool within the Ecosystem. Since 2017, BNB has been committed to burning 100 million tokens (half the total supply) to take them out of circulation through a systematic burn process. This will be delivered through a quarterly Automatic Burn mechanism designed to remove all but 100 million BNB from the circulating supply over time.
This makes the Auto-Burn process transparent and objective, without the interference of the Binance central exchange. BNB Chain also implements the Real-Time Burn mechanism, where some proportion of gas fees is constantly undergoing burn.