KuCoin is a success measured by the number of traders using its platform, which is more than 18 million. You can easily check the crypto price and other updated data on KuCoin. There are more than 1 trillion dollars of trading volume revolving around KuCoin. The big numbers of Altcoins listed in KuCoin are in the best interest of crypto traders. KuCoin’s priority is its customers. Therefore, KuCoin also lists its competitor’s coins on its platform. In this article, we discuss what BNB auto burn learning session with KuCoin is.
BNB Auto Burn:
Coin burn is a process to eliminate the circulation of certain coins. This way, you can permanently stop their supply or reduce it to create the deflationary effect. In the case of BNB, there are two mechanisms, and they both burn 50% of BNB in the long run. The one mechanism that burns the BNB coins is used in a gas fee on the BNB chain. The second mechanism burns the coin quarterly. Now the quarterly burning of BNB shifts to an Auto Burn. However, in the past, it depends on trading volume. This automatic burn calculates the price and block of BNB and then takes steps for its burning.
BEP 95 Burning Mechanism:
In the year 2021 BNB team decide to accelerate the burring of BNB because of its high production. To fast up the process, BEP 95 mechanism is introduced. With the help of this automatic mechanism, smart contracts burn a certain amount of gas fees from different blocks. Due to that, most people using BNB will lead to more burning. This strategy works very well and increases the burning throughout the BNB blockchain. In July 2022 BNB chain burns about 285 BNB every day. It will continue to burn more BNB even after the 100 million targets are achieved.
BNB Pioneer Burn Program:
This burning procedure also creates issues, and many users accidentally lose their BNB assets. The BNB pioneer burn program was introduced for such users in this situation. Users can claim their BNB with the help of this program after providing some information, and they automatically get their assets back. Pioneer programs recover the token for the users through different programs and send it back to them. They also offer different prizes against this token recovery with the same amount of BNB.
KuCoin provides a variety of features and technology to its users. A wide range of crypto pairs includes BTC/USDT, ETH/USDT, ADA/USDT, and others. You will never feel disappointed after entering the KuCoin platform. Live market data with BTC, ETH, ADA, and KCS price are present on KuCoin. There are a variety of new innovative features present on KuCoin. A wide range of trading options, including spot, future, fiat, and P2P, is available on KuCoin. KuCoin provides no competition or transparency to the trader. Nobody expects such quality service from any other platform. You always feel more secure and convenient after entering a KuCoin world. Many Metaverse-supported projects are present on KuCoin to entertain their users.