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CZ Clarifies Further: Giggle Academy is a free educational platform, and burning half of the donation is a gesture of gratitude to the community
BlockBeats News, November 4th, CZ revealed in a post that the "Giggle Fund Token smart contract (designed by the community) will directly donate BNB to Giggle Academy's public donation address. Binance proposed to donate its trading fees in the form of Giggle Fund Token.
Giggle Academy will burn half of the received tokens and convert the other half into BNB. Some people have raised the question: "How can you burn the donations you receive?"
In this arrangement, transactions and fund transfers are limited to only two parties (donor Binance and recipient Giggle Academy). Please note that the transaction fee belongs to Binance; Giggle Academy wishes to express its gratitude to the community.
In fact, it would be simpler if Binance took care of the "burn" and "conversion" operations on its own and then sent the remaining part to Giggle Academy in the form of BNB. Finally, it should be noted that Giggle Academy is not a crypto company but a free educational platform."
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