A new burning mechanism named BEP-95 has been introduced for Binance Smart Chain. This mechanism, which will offer a fee burning system similar to that used in the Ethereum network, aims to make BNB more valuable and speed up the burning process.
BSC’s new burning mechanism, BEP-95, was introduced on Binance Chain Github. The mechanism has two main purposes: these are to make the token more valuable by accelerating the burning process of BNB, and to decentralize the network. The new mechanism brings constant burning of the fee distributed to the validators and a manageable burn rate.
With this mechanism, the burning process of BNB will increase significantly, which will positively affect the value of BNB. As it is known, the deflationary structure that Ethereum’s latest update brought to the network, of course, in addition to the general positive structure in the market, caused a significant increase in price.
If the network accepts the update “burnRatio”
The parameter will be introduced to the network.