gn 💤 | Umair Sheikh 101 on Binance Square

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Umair Sheikh 101

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#BNB Great, thanks for the clarification! You're referring to BNB (Binance Coin). Here’s a quick overview: What is BNB? BNB is the native cryptocurrency of the Binance ecosystem, initially launched in 2017 as an ERC-20 token on Ethereum, then later migrated to Binance Chain and now exists on BNB Smart Chain (BSC). Main Uses of BNB: 1. Trading fee discounts on Binance exchange. 2. Transaction fees on BNB Smart Chain (gas fees). 3. Token sales on Binance Launchpad. 4. DeFi apps and NFT platforms built on BSC. 5. Staking & Yield Farming. BNB Tokenomics: Max Supply: Originally 200 million tokens. Burning Mechanism: Binance conducts quarterly burns to reduce total supply, increasing scarcity. Would you like the current BNB price, investment advice, how to use it in DeFi, or something else?

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