Cryptofauna exchange Binance this Friday carried out the eighth quarterly burning your Binance token Coin (BNB).
8th #Binance Coin Burn: From the Team $BNB Allocationhttps://t.co/gJrEj4axyc pic.twitter.com/9YfsF5HQP2
— Binance (@binance) July 12, 2019
This time the burning was subjected to 808 888 BNB cost of about $23.8 million, which belonged to the team of the exchange. Initially in favor of the team was allocated 40% of the total emission of the BNB (80 million tokens for $4.2 billion). In the future Binance expects to destroy all of these tokens.
CEO Binance Changban Zhao explained that his company «intends to engage in the development of the ecosystem Binance without using a single BNB from the initial allocation».
Zhao said that the total supply of BNB will still be 100 million, adding that now this value is BNB 189 million, of which 89 million are yet to be destroyed. However, he noted that the team Binance will probably be one of the largest holders of BNB, as a large part of the profits the company receives at the BNB and then distributes them among its employees.
Also today, Zhao answered the questions in the format of the stream. Among other things, he said that the test network for the upcoming futures markets will be launched before the end of the month. In addition, the company is actively interested in running their own payment cards in the Visa system. Listing security-token not yet included in its plans because of the large number of nuances and heterogeneity of understanding of the issue in different countries.
In a separate announcement this morning Binance reported that increased limit of borrowings in the USDT are used for each margin account with 15 000 to 30 000 USDT USDT.