$BNB 🔍 Quick Facts About BNB
Feature Details
Ticker BNB
Chain BNB Smart Chain (BSC) and BNB Beacon Chain
Use Cases Exchange fee discounts, gas fees, staking, DeFi, NFTs, governance
Initial Launch 2017 (on Ethereum as ERC-20)
Migration Moved to Binance Chain (now BNB Beacon Chain) in 2019
Token Type Utility token
🧠 Main Functions of BNB
Trading Fee Discounts on Binance
Paying Gas Fees on the BNB Smart Chain (used like ETH on Ethereum)
DeFi & DApps: Used in thousands of DeFi protocols on BSC
Staking & Yield Farming: Earn rewards or provide liquidity
NFT Marketplaces: Buy and sell NFTs on BNB-based platforms
Participating in Launchpads: Access new project token sales via Binance
🔗 BNB Chain Architecture
BNB operates on two main chains:
1. BNB Beacon Chain: Governance & staking layer
2. BNB Smart Chain (BSC): EVM-compatible smart contract platform — home to PancakeSwap and many DeFi apps
📉 Tokenomics
Max Supply: 200 million (but deflationary via burns)
Burn Mechanism:
Quarterly burns based on trading volume
BNB Auto-Burn mechanism adjusts burn based on price and supply
Real-time burn from gas fees on BSC
⚠️ Risks / Controversies
Centralization concerns: Binance still has strong influence over the ecosystem
Regulatory scrutiny: Binance (the exchange) and BNB have been targeted by regulators globally
Security incidents: BNB Chain has experienced hacks (e.g., bridge exploit in