Will there be a coin burn this month? Heard of it but I am not sure if it is gonna happen or happened already


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Posted in Binance Reddit

5 Comments

  1. becometa on 7. July 2018 at 14:37

    **Every quarter**, Binance will use 20% of its profits to buy back and burn/destroy BNB until 50% of the total supply has been depleted. Eventually, only a total of 100,000,000 BNB will remain.

    All related transactions will be completed on the blockchain, available for public view.
    You can view previous Burns by quering Binance Support page for a word “burn” https://support.binance.com/hc/en-us/search?utf8=%E2%9C%93&query=burn

    No exact burn date is published.

    More can be found in Binance Whitepaper: https://resource.bnbstatic.com/books/20180119/1516332231061.pdf

     


  2. joecoolmedia on 7. July 2018 at 14:37

    They usually do it about 2 weeks after the quarter ends.

    So around 15 July.

     


  3. OnlyWhenImAtWork on 7. July 2018 at 14:37

    What is coin burn for?

     


  4. TradeWars80 on 7. July 2018 at 14:37

    Does that mean buy or not buy for now?

     


  5. [deleted] on 7. July 2018 at 14:37

    [deleted]