BNB, which stands for Build'N'Build (and was formerly Binance Coin), is the native of the BNB Chain ecosystem, which includes the BNB Smart Chain. Initially launched to offer users discounted trading fees on the Binance exchange, BNB's function has significantly. Today, its primary utility is to pay for transaction ("gas") for activity on the fast and low-cost BNB Chain, participate in network governance through staking, and serve as a versatile utility token within a vast ecosystem of decentralized applications, DeFi, and payments. The coin's supply is kept deflationary through a periodic token burn mechanism.