Speed up BNB destruction and make binance smart chain more decentralized! BSC token destruction mechanism
1. The Gas Fee charged by the node verifier will be destroyed in each block in a fixed percentage. 2. Variations in the destruction ratio will be determined by THE BSC verifiers, in accordance with their voting rights (Mortgage BNB) through a proposal vote." The BNB award for
will decrease if the proposal passes the node verifier and the client, but the actual value may increase as the BNB price increases. The initial destruction rate is 10%." According to BscScan data, in the second half of this year, BSC nodes will receive 6,000 BNBS per day as a processing fee, and 10% will destroy 600 BNBS per day (about $290,000), or about 0.2% of the market supply in circulation over the course of a year. The
community also has mixed opinions on this proposal. Some people believe that IP-1559 is useful because ethereum will generate new ETH as a block reward, BSC does not apply the same mechanism. "Unrestricted deflation would significantly reduce token liquidity in the market as token values rise." However, some people feel that although BNB has a quarterly destruction mechanism, it is too slow and the BNB destroyed is the BNB locked up by the team. "It is through the BEP-95 mechanism that we can really reduce the amount of BNB floating in the market and increase its value.
