The team has stated before that they are considering some sort of burning mechanism, but they haven't disclosed any details. I'm hoping for an update on this feature in the coming roadmap.
You will be able to burn band if band sets up an injective relayer (exchange), then you could burn band with 40% of the fees. You could also add band to the inj protocol for just 1000 inj.
Https://Lunatics.exchange already do this and their coin will get listed soon
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