BNB Burns Will Now Better Reflect DeFi Activity on Binance Smart Chain

Posted on by American Coins & Gold

BNB Burns Will Now Better Reflect DeFi Activity on Binance Smart Chain
Crypto exchange Binance has made changes to how it removes binance coins (BNB) from circulation, a process known as burning, to better reflect their usage in the Binance Smart Chain (BSC) ecosystem, it said in a blog post Thursday.The Binance Smart Chain, introduced April 2020, is a network for decentralized finance (DeFi), a financial system based on smart contracts rather than middlemen for services like lending, trading, and borrowing. Binance coins are used to pay transaction fees on BSC and allow holders to make changes and additions to protocols running atop the chain.The new system, dubbed Auto-Burn, will occur continuously…