$BNB BNB (Binance Coin) functions as the native cryptocurrency of the BNB Chain blockchain, which is divided into two chains: Binance Chain and Binance Smart Chain (BSC). BNB is used to pay fees on the Binance platform, for transactions on the BSC network, and to participate in network governance. It is also used to access discounts on trading fees on Binance, participate in airdrops, and access services in dApps and NFT platforms within BSC.

Details about how BNB works:

Dual chain: BNB operates on Binance Chain, focused on fast and low-cost transactions, and on Binance Smart Chain (BSC), which supports smart contracts and dApps.

Transactions: BNB is used to pay transaction fees on both chains.

Discounts on Binance: BNB users can obtain discounts on trading fees on the Binance platform.

Governance: BNB allows holders to participate in network decision-making.

Decentralized applications (dApps): BNB is compatible with dApps on BSC, including decentralized finance (DeFi) projects and non-fungible tokens (NFT).

Coin burn: Binance periodically burns a portion of the BNB obtained to reduce the total supply and potentially increase the token's value.