$BNB

BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. Originally launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance's own blockchain, the Binance Chain, in 2019.

Key Uses of BNB:

Trading Fee Discounts: Binance users can use BNB to pay for trading fees on the Binance exchange and receive a discount, which encourages adoption.

Binance Smart Chain (BSC): BNB is also the primary fuel for transactions and smart contracts on Binance Smart Chain, a blockchain platform designed to support decentralized applications (dApps).

Token Sales: BNB is used for participating in token sales on Binance Launchpad, the platform's token launch service.

Staking and Yield Farming: Users can stake BNB on Binance or on other decentralized platforms built on Binance Smart Chain to earn rewards.

Payment for Goods and Services: Some merchants accept BNB as a form of payment.

How BNB Makes Money:

Transaction Fees: Binance generates revenue from the fees collected on trades and transactions made on its platform, a portion of which is paid using BNB.

Deflationary Mechanism: Binance also periodically burns (removes) a portion of the BNB supply to reduce its total circulating supply, which may help drive demand and increase value.

BNB is a utility token within the Binance ecosystem and its value is tied to the growth and usage of the platform and its blockchain.