The BeeZee blockchain has long had a burning mechanism in place. We’ve invited you to vote on burning unclaimed coins from the swap twice: once in 2023 and again in March 2024. So far, we have burned a total of 179,000,000 BZE and plan to burn more. You can see all burning events in our dApp.

Where do the coins for burning come from? Here’s how we plan to obtain BZE for burning:

Market Buyback

We are committed to buying back BZE on a monthly basis 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.

Market fees and destination at the time of this writing.

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.