How To Burn

Participants who submit a valid US banknote, accompanied with a completed Burn Application, shall receive a proportional amount of bUSD and a Proof of Burn NFT.

To submit USD for an official Burn Ceremony, please complete the following steps:

1. Read the Burn Agreement in full.
2. Sign and complete a Burn Application.

   OR

   Mint a BurnAgreement NFT and complete a Simplified Burn Application.
3. Mail an envelope including:
   • A completed Burn Application
   • All bills you wish to burn
   • All required processing fees ($20 or 1 BurnAgreement NFT per submitted bill)
   to the following address:

STEVE PIKELNY

367 ST. MARKS AVE

BOX #32

BROOKLYN, NY 11238

Please double check that all information is correct before mailing.

All bills received by the Burn Agent shall be burned during an official Burn Ceremony subject to the terms of the Burn Agreement.

Reference the Burn Agreement for all policies regarding bill return, bill eligibility, bill custody, and bill forfeit.

If you mail cash over $500, USPS requires you to use Registered Mail® for proper insurance and protection. The Burn Agent shall not be responsible for lost, stolen, or improperly sent mail.

How Does It Work?

1. Participants submit valid US currency to the Burn Agent.
2. The Burn Agent performs a Burn Ceremony, in which the submitted bill is lit on fire.
3. The Burn Agent issues bUSD to the participant at a one-to-one rate^* with the denomination of the submitted bill once it has been completely burned.
4. The Proof of Burn is published.

• All bUSD is issued as an ERC20 token on L1 Ethereum.
• bUSD is not a stablecoin. It can never be redeemed for USD, and may trade at values other than $1 for extended periods of time.
• bUSD is not a security. There is no utility or reasonable expectation of profit from owning it.
• bUSD is not legal tender. It is issued by the Burn Agent, who has no affiliation with the US Government.
• Burning US currency is a federal crime punishable for up to six months in prison.

Burn Agreement

Read The Burn Agreement

The bUSD Burn Agreement outlines all legal matters pertaining to the bUSD project, including valuation, legality, the Burn Ceremony, Proof of Burn media, bUSD reciept, the Burn Agent, issuance authorization, bUSD supply, bill custody, bill forfeit, return policy, bill eligibility, burn scheduling, processing fees, privacy policy, intellectual property, and warranty.

Coin Info

BUSD Contract

Contracts