BINANCE AND KUCOIN COMMENCE QUARTERLY BURNS OF BNB AND KCS TOKENS

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Binance is an up and coming cryptocurrency exchange with a focus on crypto-to-crypto trading. The platform has started to gain popularity in the blockchain community thanks to its impressive coin offerings and insanely low trading fees

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BINANCE AND KUCOIN COMMENCE QUARTERLY BURNS OF BNB AND KCS TOKENS

Mon Jul 16, 2018 1:43 pm

International, multi-language cryptocurrency exchange behemoth Binance has officially announced the fourth quarterly coin burn of its in-house Binance Coin token (BNB).

The announcement comes via Binance’s founder and CEO, Changpeng Zhao, on Twitter — where the business executive wrote:

@binance is doing a final tally on the numbers, and will announce our 4th quarterly burn in the next day or so, and finish the burn within a couple days after that. Thank you for your patience and support!

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The quarterly coin burn comes in accordance with the company’s white paper, which states:

Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.


https://bitcoinist.com/binance-kucoin-c ... cs-tokens/
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