What is BNB auto-burn and how does it work?

cointelegraph.com:

Binance Coin (BNB) is the Binance ecosystem’s native cryptocurrency. Launched in 2017, BNB was originally presented as an ERC-20 token on the Ethereum blockchain with a total supply of 200 million. In 2019, Binance started its mainnet swap and migrated all BNB tokens to BNB Chain.

Related: A beginner’s guide to the BNB Chain: The evolution of the Binance Smart Chain

BNB Chain is composed of two blockchains, both powered by BNB:

The native Binance Coin is now an essential part of the Binance ecosystem. It is used to power the operations of the Binance and Binance.US exchanges, including other applications built on the BNB Chain, such as:

These are just a few of the many dApps built on the BNB blockchain. Binance also remains the largest cryptocurrency exchange by trading volume and is one of the most popular exchanges in the world.

A coin burn is when a cryptocurrency project destroys some of its coins, often to reduce the circulating supply and increase the value of the remaining coins. The coins are sent to a dead crypto wallet with an unknown private key, which means that these coins can never be spent again.

Coin burns are often conducted on a quarterly or semi-annual basis. Binance, for example, has committed to burning BNB coins every quarter until 100 million BNB are destroyed. This will leave a total supply of 100 million BNB — the maximum possible supply of BNB.

Related: Buyback-and-burn: What does it mean in crypto?

Blockchains and crypto protocols do periodic coin burns and token burns for a couple of reasons, including:

There are coin-burning mechanisms by which BNB is burned, as explained below:

The first is the Binance Evolution Proposal (BEP)-95 burning mechanism. Through BEP-95, BNB is burned in real-time by burning