BZE Burnings 🔥
The BeeZee blockchain has had a burning mechanism for some time. We invited you to vote on burning unclaimed coins from the swap twice: once in 2023 and again in March 2024. So far, a total of 179,000,000 BZE has been burned, and we plan to burn more. You can see all burning events in our dApp.
But where do the coins for burning come from? Let’s break down how we plan to obtain BZE for burning.
Market buy back
We are committed to buying back BZE on a monthly basis and using it to fund the burning module. The amount will vary from a few dollars to a few hundred dollars, depending on our operating costs and income. These trades will be made gradually throughout the month to avoid significantly impacting the price or giving an advantage to arbitrage traders.
Trading fees
Once trading opens on our DEX, the fees for trading assets on the BZE blockchain will automatically be sent to the Burner. You can view the fees collected by the blockchain and their destination on this page.
Community pool
The community pool amount increases daily. Funds for this pool come from various taxes collected by the blockchain for using different features, such as market pair creation, token creation, staking rewards, and trading rewards. You can view some of these taxes on this page.
Periodically, the community will be invited to vote on sending some of the funds to the burner module. The amount will be decided by the team and the community to maintain a good balance between growth funds and funds removed from circulation.
Feel free to engage in a discussion with us on any of our communication channels: Twitter, Medium Publication, Discord or Telegram.
