BNB Burns will better reflect DeFi activity on Binance Smart Chain.

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Crypto exchange Binance has made changes to how it removes Binance

 

Crypto exchange Binance has changed the way Binance coin (BNB) is removed from circulation. which is a process known as combustion To better reflect its implementation in the Binance Smart Chain (BSC) ecosystem, the exchange said in a blog post on Thursday.

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Launched in April 2020, Binance Smart Chain is a network for Decentralized Finance (DeFi), a smart contract-based financial system. Instead of a middleman for services such as lending, trading and borrowing,

Binance coins are used to pay transaction fees on the BSC and allow holders to make changes and add to the protocol that works on the chain.A new system called Auto-Burn will continue to emerge and replace

the quarterly burn schedule that reflects the use of tokens in various trading products. Offered by Binance's centralized exchange, a real-time combustion system that minus part of the gas fees applied to BSC remains.

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