BackBNB Circulating Supply Calculation
BNB was originally issued on the BNB Beacon Chain and then later flowed to BNB Smart Chain (BSC), opBNB, and BNB Greenfield as the ecosystem expanded. In 2024, the BNB Beacon Chain underwent a sunset process (an escape hatch was still reserved to recover BNB locked on the Beacon Chain from BSC). The total circulation of BNB is managed across the multiple networks, while the BNB burn increases the complexity of the circulation model even further. Here this page tries to illustrate it with more details.
Note: BNB on ethereum network is not within the scope as they are taken out of circulation gradually.
BNB Circulation Model
The architecture of cross-chain communication is as in the above diagram. The cross-chain transfer is the key communication between the two blockchains. Essentially the logic is:
1
BNB can freely flow between Greenfield, BSC, and opBNB. For all BNB circulating on Greenfield and opBNB, an equivalent amount of BNB is locked in specific contracts on BSC.
2
The BNB Beacon Chain has stopped as all of its validators have stopped producing blocks.
Burn Model
Before realtime/autoburn, Binance has done BNB quarterly burn, you can check the history burn transaction in this page (need select burn type and search).
BNB uses a real-time burning mechanism as introduced in BEP95. A fixed ratio of the gas fee collected is burned in each block, with the ratio decided by BSC validators. You can simply get the amount of real-time burn from BSC Scan.
Besides BEP95, some community projects will also burn BNB into a dead account.
The Binance Team uses an Auto-Burn system to reduce its total supply to 100,000,000 BNB. The BNB Auto-Burn mechanism adjusts the amount of BNB to be burned based on BNB's price and the number of blocks generated on BNB Smart Chain (BSC) during the quarter.
Also BNB lost in eligible cases can also be reimbursed through the BNB Pioneer Burn Program. This counts users' lost coins towards the official burn count and reimburses them with BNB.
So how can we get the exact burned amount?
- Auto Burn = Sum amount of auto burn records.
- Real Time Burn = the amount shown on this page.
- Community Burn = the BNB balance of the dead account - Real Time Burn - Burn Tx sent by this account.
- Beacon Chain Fusion Burn = 110K BNB from all Beacon Chain validators.
- Total Burned = (Auto Burn) + (Real Time Burn) + (Community Burn) + (Beacon Chain Fusion Burn).
How can we get the circulating supply?
- Total BNB Circulation = 200M - Total Burned + (2M - 1.02M) - 6823
Supplementary Notes
- The 2M BNB was minted by Hacker during the BNB-Chain bridge incident, and 1.02M BNB of them is locked on the chain which is treated as burned.
- The 6823 BNB is unfortunately locked on the TokenHub contract by user misoperation, we treat it as a burn as well.
- The 110K BNB from Beacon Chain validators will be locked during the BNB Chain Fusion, we treat it as a burn as well.