#BNB 1. **Created By**
- Launched in **2017** by Binance as an **ERC-20 token** (on Ethereum).
- Later migrated to **Binance Chain** (2019), then expanded to **Binance Smart Chain (BSC, now BNB Smart Chain)** in 2020.
2. **Primary Use Cases**
- **Trading Fee Discounts**: Pay fees on Binance with BNB for lower costs.
- **Gas Fees**: Used for transactions & smart contracts on BNB Chain.
- **Staking & Governance**: Secure the network & vote on proposals.
- **DeFi & Web3**: Used in decentralized apps (PancakeSwap, Venus, etc.).
- **NFTs & Gaming**: Popular in blockchain games and NFT marketplaces.
3. **Tokenomics (Supply & Burns)**
- **Initial Supply**: 200 million BNB.
- **Burning Mechanism**: Binance burns (destroys) BNB quarterly to reduce supply (goal: 100 million BNB).
- **Deflationary**: Burns increase scarcity, potentially raising value over time.
4. **BNB Chain Ecosystem**
- **BNB Smart Chain (BSC)**: A fast, low-cost Ethereum-compatible blockchain.
- **opBNB**: A Layer-2 scaling solution for cheaper & faster transactions.
- **Greenfield**: A decentralized data storage network.
5. **Price & Market Performance**
- Consistently a **top 5 cryptocurrency** by market cap.
- Used by millions for trading, investing, and DeFi activities.
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### **Controversies & Risks**
- **Centralization Concerns**: BNB Chain is partially controlled by Binance.
- **Regulatory Risks**: Binance has faced legal challenges (e.g., SEC lawsuits).
- **Competition**: Rivals like Ethereum, Solana, and Polygon challenge BSC’s dominance
