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Bancor Burns 1 Million BNT Tokens

Twitter icon  •  Published 2 years ago  •  Hassan Maishera

The Bancor team informed its community via Twitter on Thursday that it had burned 1 million BNT tokens.

The Bancor team informed its community via Twitter on Thursday that it had burned 1 million BNT tokens. The BNT tokens were bought and collected in the Bancor v3 vault. According to the recent governance proposal, the one-time BNT burn has been performed, and around 0.5% of the circulating supply was destroyed, the team added. 

Bancor is a decentralized exchange protocol that allows for the creation of liquidity pools to trade assets. BNT is trading at $0.436 at press time, down by more than 1% in the last 24 hours.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.