๐ช What is BNB (Binance Coin)?
๐น Issued by: Binance
๐น Launched: July 2017
๐น Symbol: BNB
๐น Initial Blockchain: Ethereum (ERC-20)
Now: Binance Chain & BNB Smart Chain (BSC)
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๐ฅ Main Functions of BNB:
1. Discount on Trading Fees on Binance
Users can pay fees with BNB and receive a discount.
2. Gas Fees on BNB Smart Chain (BSC)
Like ETH on Ethereum, BNB is used to pay for transactions on BSC.
3. Utility Token
Used in the Binance ecosystem for:
Staking
Launchpad (IDO)
NFT
GameFi & DeFi