Banks often invest customer money in industries that have little to do with sustainability. The Hamburg company Tomorrow wants to achieve the opposite. Tomorrow could now score with an extremely successful STO.

On October 20th, Tomorrow carried out the most successful Security Token Offering (STO) in the German-speaking area to date

After just five hours, the original investment target of two million euros was not only achieved, but exceeded by 50 percent. Tomorrow was able to raise a total of three million euros in capital. Over 2,000 investors have acquired digitally securitized participation rights in token form at the STO. The Hamburg company announced this on its blog on October 20th.

An investment was possible for private investors from 100 euros. The maximum ticket size for retail investors was 25,000 euros. After Adam Ries, the small investors participated for 1,500 euros. In return, they receive privileges that are usually reserved for institutional investors. In addition to participating in the company’s increase in value and profits, STO investors are also entitled to a piece of the pie in the event that the company is sold or its IPO. In addition to the newly acquired small investors, accredited investors are supporting the company with a further two million euros. The technical implementation of the STO took place via the Wiwin platform.

STO money for sustainable expansion

Over 40,000 customers already use the company’s current account, which calls itself „social business“. Tomorrow has made the connection between mobile banking and sustainability a priority. In contrast to traditional banks, Tomorrow wants to invest customer money exclusively in sustainable projects – investments in the defense industry or coal-fired power plants are therefore taboo for Tomorrow.

The income from the STO will, among other things, flow into a fund made up of sustainable and socially responsible investments. The money will also help Tomorrow to position itself in the European market.

For the 13th iteration of its quarterly burn, the Binance platform destroyed 2,253,888 BNB, or the equivalent of $ 68 million. This is the largest BNB burn on record in terms of fiat value.

Every quarter since its inception, a colossal amount of BNB has been burned by Binance

The interest of a burn (or burn in French) is to reduce the number of tokens in circulation and therefore to increase the scarcity of the asset.

In the case of the B NB , such an initiative was provided for in the token whitepaper, and the repercussions on the price are always positive.

This weekend, October 17, therefore took place the 13th iteration of this massive burn. A total of 2,253,888 BNBs thus disappeared from circulation forever, the astronomical equivalent of 68 million dollars .

This 13th burn for BNB is the largest ever recorded in terms of value in fiat currency, and the 4th in terms of amount of BNB burned. This still represents 1.13% of the total outstanding BNB supply.

On these other components, the 13th iteration is far from the previous 2, where 3.4 and 3.5 million tokens had been destroyed. The same goes for the decrease in the supply in circulation, with 1.69% and 1.74% of BNB withdrawn from the markets forever.

The Pioneer Burn Program , an initiative to help Binance Smart Chain users who made unintentional mistakes while transferring BNB , has also saved some hundreds of thousands of dollars. As part of this program, 867 BNB were included in this quarterly burn.

A beneficial process for BNB

To burn BNB , Binance uses its profits to buy them on the markets, with the sole purpose of destroying them later. As the token whitepaper informs us, Binance’s goal is to reduce the supply in circulation to 100 million BNB tokens .

At present, there are currently 144,406,561 BNB in circulation according to data from CoinMarketCap. At the rate at which Binance is burning BNB, its target should be reached within 3 to 4 years .

In addition to these burns causing a continual decline in the BNB supply, demand has been increasing sharply in recent weeks, in particular thanks to the strong arrival of Binance in the world of decentralized finance (DeFi) .

With Binance Smart Chain , its in-house blockchain that can host DeFi protocols , the platform gives BNB a new use case. The token thus becomes the fuel of a DeFi-based blockchain.

In addition, BNB holders have been very rewarded since the introduction of Binance Launchpool . This platform allows you to cultivate tokens just by keeping BNB in your wallet, enough to encourage users to get them.

At the time of writing, BNB is trading around $ 30 , for a market capitalization of $ 4.4 billion . In particular, this places BNB in the 6th position of the most capitalized cryptocurrencies , holding out against Bitcoin Cash (BCH) at the 5th position.