BEST Burn #10

Paul Klanschek

By Paul Klanschek


The moment we’ve been waiting for all month is finally here: we’ve just completed the tenth BEST burn and burned 1,767,812 BEST with a total value of €1,299,395. This is our second burn since we launched BEST 2.0. Read on and get all the details about the tenth BEST burn, explained by our co-founder & co-CEO, Paul Klanschek.

Since its launch in August 2019, BEST (the Bitpanda ecosystem token) has grown exponentially and saw incredible integration both on Bitpanda and Bitpanda Pro. Since then, our vision and plans for BEST have evolved. 

We introduced BEST 2.0 in December 2021, both to offer our users a new and improved Bitpanda Loyalty Programme and to start rolling out developments and ideas we have for BEST. 

New features, new benefits and new rewards: BEST 2.0 has brought great changes and our monthly burns are just one. Check out everything we have in the pipeline for our community in the BEST 2.0 Visionpaper.

Only the best for our BEST users: the 10th BEST Burn

For the tenth BEST burn, we’ve collected BEST since our previous burn on January 27 and burned 1,767,812 BEST today, with a total value of €1,299,395. You can see all the details of our tenth burn - including the burn transaction - here. Check the current BEST supply here, under the section “Total Max Supply”.

With the introduction of the all-new BEST Stimulus Programme, Bitpanda takes and burns BEST in the amount of up to 25% of collected trading premiums by BEST holders with a VIP level. This burning process will be repeated monthly until a maximum of 75% of the total BEST supply (out of 1 billion BEST originally issued) has been burned.

In case you’re wondering why we’re burning BEST: the goal of our BEST burns is to decrease the total amount of BEST in existence. After the burning process, fewer tokens remain in circulation, rendering the remaining tokens more valuable, and hence bringing greater benefits to our BEST holders. 

When is the next BEST Burn?

BEST Burns will now take place every month instead of once a quarter, like they used to. 

Take a look at the overview of the upcoming BEST Burns in 2022 and don’t forget to schedule them in your calendar: 

Get your BEST 2.0 benefits in just a few clicks

At Bitpanda, we want to keep it safe, simple and fast: to get the BEST out of Bitpanda, all you need to do is agree to our new terms and conditions on BEST 2.0 and our Bitpanda Loyalty Programme in your Bitpanda app for iOS and Android or via our web app

News from Bitpanda 

  • It’s your time to choose: All BEST VIP users level 2 and up had the chance to vote for the next assets they want to see listed on Bitpanda. Thank you for participating in our asset voting: we are currently analysing the results and we’ll announce the winners very soon, so keep a close eye on our official social media channels to find out which assets will be listed. 

  • BEST Instant Trade Bonus payouts: Only the BEST for you! The second round of Instant Trade Bonus payouts to our users who have already accepted the BEST 2.0 Terms and Conditions has been paid out on February 24. Make sure to check your Bitpanda BEST wallet. If you haven’t accepted the T&Cs yet, don’t worry: we will have monthly Instant Trade Bonus payouts until the official launch!

  • We became the sponsor of the Italian Rugby Federation (FIR): Have you been following the Six Nations matches that started on February 5? Then you probably already know: Bitpanda is the official main and jersey sponsor of the Italian men’s national rugby team and the national under-20 team. This is our first Italian sport partnership and we couldn’t be happier to support the Italian rugby teams.

Bitpanda Emergency Response Fund: our response to the war in Ukraine

We share the fundamental belief that the whole is greater than the sum of its parts. We’re so much stronger together and now it’s time to leverage the power of the amazing Bitpanda community. This is why we set up the Bitpanda Emergency Response Fund, a crowdfunding platform that allows our community to contribute the crypto assets of their choice to causes that provide humanitarian support to people affected by the war.

The initial beneficiaries of the Bitpanda Emergency Response Fund are Save the Children - Ukraine Crisis Relief Fund and Doctors Without Borders - Médecins Sans Frontières (MSF), and we will continue to add new organisations, as referred by our team and our 3 million+ community. 

We kickstarted the donations with a EUR 100,000 contribution on behalf of Bitpanda, and we will then match every donation up to EUR 500,000 in total. On top of that, each of the founders will individually contribute a personal donation of EUR 50,000. Find out more about Bitpanda's Emergency Response Fund and read the message from our founders.

Stay tuned and check our blog and social media channels for all the Bitpanda news to come: this is just the beginning, we have so much more in store for you! 

Paul Klanschek

Paul Klanschek

Co-founder & CEO