Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, one of the world’s largest cryptocurrency exchanges. Initially launched on Ethereum as an ERC-20 token in 2017, BNB later migrated to Binance Chain. BNB is used to pay trading fees on Binance with discounts, participate in token sales on Binance Launchpad, and for various DeFi applications. It also powers Binance Smart Chain (BSC), a blockchain for decentralized apps. Binance regularly burns BNB tokens to reduce supply and support price stability. With expanding utility and integration, BNB plays a crucial role in Binance’s growing blockchain infrastructure and ecosystem.
