BNB (Binance Coin) is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency exchanges in the world. Originally launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB has since transitioned to Binance’s own blockchain, Binance Chain. BNB serves a variety of purposes within the Binance ecosystem, including paying for transaction fees on the platform at a discounted rate, participating in token sales on Binance Launchpad, and powering decentralized applications (dApps) on Binance Smart Chain (BSC). Over time, BNB's use cases have expanded, and it has gained significant value, making it one of the top cryptocurrencies by market capitalization. BNB’s deflationary model includes quarterly token burns, where Binance buys back and destroys a portion of the total supply, aiming to reduce inflation and potentially increase its value.