$BNB Binance Coin (BNB) is a token of the Binance crypto exchange, which is used to pay trading fees, as well as for IEOs on the Binance Launchpad platform and for farming on the Launchpool platform. 1

BNB was issued in 2017, before the launch of the Binance crypto exchange. Initially, the token operated on the Ethereum blockchain and was an ERC-20 token, the emission was 200 million, half of which was distributed during the ICO. 1

Each quarter, Binance uses a fifth of its profits to buy back and constantly destroy (or "burn") BNB stored in its treasury. The goal is to reduce the emission to 100 million in order to support the price of the asset