• Binance Exchange set a goal to burn half of the 200 million supply down to 100 million.
• So far, over 44 million BNB has been burned, equating to over $14 billion dollars.
• The rate of burning will slow down once the 100m circulating supply is reached and the burn will stop.
BNB Bridge Exploit
• In 2022, the BNB bridge was exploited which increased the BNB supply by 2 million coins to 202 million.
• Despite this, the BNB burn plan will still reduce back to a total supply of 100 million as outlined in a blog post from January 2023.
Alternative Burn Crypto
• Shiba Inu managed to burn 50% of its token supply through sending it to Vitalik who donated some and sent the rest off for network burning.
• Other tokens have a form of tax on buying and selling which doesn’t benefit end users.
Avorak AI Burn
• Avorak AI is delivering AI tools that require AVRK tokens for access, with live payment routing returning some revenue back to AVRK holders. • This is aiming to be an amazing form of passive income for holders while also allowing burning at an equal rate as what is being purchased with new funds entering into circulation.
Burning tokens can be an effective way for creating value in cryptocurrencies and Avorak AI’s approach looks promising in providing passive income and burning at an equal rate as what is being purchased, ensuring value for all holders involved!