$BNB

BNB is short for Binance Coin, which is the official currency of the Binance platform, the largest cryptocurrency trading platform in the world.

Here is a comprehensive definition:

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🪙 Basic Information about BNB:

Name: Binance Coin

Symbol: BNB

Launch Date: 2017

Total Coin Supply: 200 million BNB (with a burning mechanism to reduce the number over time)

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🎯 Key Uses of BNB:

1. Discount on trading fees on the Binance platform.

2. Participation in token sales (Launchpad) within the platform.

3. Payments: Used on websites and applications to accept payments in cryptocurrencies.

4. DeFi and NFT: Used in decentralized finance protocols on the BNB Smart Chain.

5. Coin burning: Binance periodically burns a portion of the coins to reduce supply and increase value.

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🛡️ Networks:

Originally on the Ethereum network (ERC-20)

Then moved to the Binance private network (BEP-2 then BEP-20)