$BNB 🪙 What is BNB?
BNB is the native cryptocurrency of the Binance ecosystem, originally launched as Binance Coin. It powers the BNB Chain (formerly Binance Smart Chain), which is a blockchain platform known for fast transactions and low fees.
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🔑 Key Points about BNB:
Launched: 2017 by Binance, the world’s largest crypto exchange.
Use Cases:
Paying trading fees on Binance at a discount
Powering transactions and smart contracts on BNB Chain
Participating in token sales on Binance Launchpad
Paying for goods and services online/offline (via partners)
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🌐 BNB Chain Structure:
BNB Chain includes:
1. BNB Beacon Chain – Handles governance and staking.
2. BNB Smart Chain (BSC) – EVM-compatible chain for DeFi, dApps, and NFTs.
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🔥 BNB Burn Mechanism:
Binance regularly burns (destroys) a portion of BNB supply to reduce circulation and increase value. This makes BNB deflationary over time.
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📈 BNB in DeFi & NFTs:
BNB is widely used in:
Decentralized exchanges (DEXs) like PancakeSwap
Yield farming
GameFi and NFT marketplaces