What is BNB?

Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, which includes the Binance Exchange and Binance Smart Chain (BSC). Initially launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB later migrated to Binance’s own blockchain, Binance Chain, to enhance performance and scalability. 

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🔹 Key Features of BNB

• Utility Token: BNB offers various benefits within the Binance ecosystem, such as discounted trading fees on the Binance Exchange and participation in token sales on Binance Launchpad. 

• Staking and Yield Farming: BNB can be staked in various decentralized finance (DeFi) platforms, allowing holders to earn rewards. 

• Token Burn Mechanism: Binance regularly burns a portion of BNB tokens to reduce supply, aiming to increase scarcity and potentially enhance value over time.