What's your take on refunding 800 BNB that are effectively burned?

[tvplus006]

Binance released a new announcement today: https://www.binance.com/en/support/articles/7bcf4da5671d44a0a5118c2277773bb4 according to which BNB coins will be returned to those who lost them when working with Binance Smart Chain. These refundable BNB coins will also be compensated from the amount that is subject to quarterly burning.

"Binance is introducing the BNB Pioneer Burn Program, a new initiative that aims to help eligible users who lose tokens as part of mistakes they made while trying out the newly-launched Binance Smart Chain. Under the BNB Pioneer Burn Program, Binance will cover users’ losses for accepted cases and count the lost tokens under our quarterly BNB token burn activities instead".

[1715131026]

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[Yogee]

Binance released a new announcement today: https://www.binance.com/en/support/articles/7bcf4da5671d44a0a5118c2277773bb4 according to which BNB coins will be returned to those who lost them when working with Binance Smart Chain. These refundable BNB coins will also be compensated from the amount that is subject to quarterly burning.

"Binance is introducing the BNB Pioneer Burn Program, a new initiative that aims to help eligible users who lose tokens as part of mistakes they made while trying out the newly-launched Binance Smart Chain. Under the BNB Pioneer Burn Program, Binance will cover users’ losses for accepted cases and count the lost tokens under our quarterly BNB token burn activities instead".

This announcement was to make official what we've been talking about here but with more details and specific conditions.

Even though one condition says "loss due to an honest mistake", there will always be people who will treat BNB as testnet coins since it's hard for Binance to verify "honesty". They will be refunded as long as they will meet other conditions. They have loads of BNBs to burn anyway and they can mint at will to refund "lost" pegged or wrapped tokens.

They're doing everything to increase user base right?

[Crypto_lion]

I think it's good on binance part that they went ahead and agreed to refund the amount to the person but then again if it is done for one person shouldn't it be done for all others as week ?

[FaucetKING]

Talking in a humanic way, they should respond to the guy asking for help because 20k$ can change a life and it can also cause the death or the hunger of a whole family. Responding to my inner feelings as a human being, i'm up for the refund of the coins.
Professionally, i'm against that. The blockchain and the decentralisation means that we as humans can't have an effect on the blockchain, we have no right to misuse it and we aren't capable of doing so. If CZ has the right to remove a balance from the burn amount then he could even remove another amount for him and his friends too, this ain't a game either play your cards well or just get out of the cryptocurrency world. If that happens, we are not talking about decentralisation in the binance ecosystem.

[Yogee]

I think it's good on binance part that they went ahead and agreed to refund the amount to the person but then again if it is done for one person shouldn't it be done for all others as week ?

I edited the main post to include the latest announcement from Binance. Try to follow the discussion next time so you won't look like spamming. Just two posts above you, tvplus006 already mentioned it and the answer to your question answer is there. 

...... The blockchain and the decentralisation means that we as humans can't have an effect on the blockchain, we have no right to misuse it and we aren't capable of doing so. If CZ has the right to remove a balance from the burn amount then he could even remove another amount for him and his friends too, this ain't a game either play your cards well or just get out of the cryptocurrency world. If that happens, we are not talking about decentralisation in the binance ecosystem.

The days that blockchain is meant for decentralization is over I suppose. Some companies today have privatized blockchain to use it in their own system.

When it comes to Binance blockchain, CZ has showed us once again that he controls it. He can do whatever the fuck he wants to BNB.

[quarkfx]

The amount of $ 20,000 is small for a CEO of a large trading platform like Binance and they know how to keep their image in the eyes of the community.
As far as I can see, the money was lost so let it go, just pay back $ 20,000 is okay.

amount might be small but what is the point in decentralisation, it lost because of negligence by bnb holder
everyday there are many mistakes and lost fund is happening and no one cares much for that
just cz wants to create a good image of himself at this hard time and he wont keep doing that any further

[r32godzilla]

I highly disagree with this decision. Would someone pay for mistakes that all of us made? When we lost Bitcoins, Ethers, and other cryptocurrencies? Why Binance is making from cryptocurrencies something that is common in banks? Oh, you made a wrong transaction? We will solve it! But, what happens when the bank starts to have a problem? 

[rahmathidayat93]

I think it's good on binance part that they went ahead and agreed to refund the amount to the person but then again if it is done for one person shouldn't it be done for all others as week ?

Yes, if they had already done it for one person, then they would obviously have done it for everyone in the future, unless there were some other considerations which they carefully scrutinized.

[bobyhodob]

The amount of $ 20,000 is small for a CEO of a large trading platform like Binance and they know how to keep their image in the eyes of the community.
As far as I can see, the money was lost so let it go, just pay back $ 20,000 is okay.

amount might be small but what is the point in decentralisation, it lost because of negligence by bnb holder
everyday there are many mistakes and lost fund is happening and no one cares much for that
just cz wants to create a good image of himself at this hard time and he wont keep doing that any further

The founder of the Binance exchange has such a strong sense of growth that he tried to trigger a decentralized exchange but I think the exchange that is currently operating is still very good to use and still has a high volume so it is more cost-effective than having to change the exchange platform.