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BNB bep-95 - 10% of the BNB gas fees now being destroyed! This is big news!

Binance

Cryptocoins Exchanges / Binance 152 Views

I found the recent hard fork upgrade really interesting and there doesn't seem a lot of chat about this on here.

The hard fork has brought in a change that will see 10% of the BNB gas fee being destroyed.

This is quite big news long-term for decreasing supply of BNB and increasing the price.

To-date I believe since the bep-95 came in, a few days ago, 2,200 BNB tokens have been destroyed.

Early data shows about 500 BNB is being destroyed daily. So around 180,000 BNB tokens a year.

Whilst this isn't loads, there will only be 100m tokens in supply eventually, as Binance conducts quarterly burning of the Binance Coin supply, with the goal of reducing the total supply by half β€” or 100,000,000 BNB. There is currently approx 168,137,036 BNB in supply.

So, in addition to eventually reaching the 100m BNB, this number will continue to reduce.

The 10% can also change (increase / decrease or cease) if community members vote to do so, which isn't beyond the realms of possibility.

I don't know where to get live data on the amount of gas fees being burnt - I'd love to see this.... but this seems like massive news and I'm super bullish on BNB for these reasons.

submitted by /u/SquilliePlays
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