$BNB BNB (Binance Coin) is the native cryptocurrency of the Binance exchange. Initially launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB later migrated to Binance’s own blockchain, Binance Chain, when it launched in 2019. BNB has several use cases within the Binance ecosystem and beyond:

Key Uses of BNB:

1. Trading Fee Discounts: One of the most popular uses of BNB is to pay for trading fees on the Binance platform, offering users discounts.

2. Binance Launchpad: BNB is used to participate in token sales (Initial Exchange Offerings - IEOs) on the Binance Launchpad.

3. Staking and DeFi: It can be used for staking on Binance Chain and in decentralized finance (DeFi) applications that support Binance Coin.

4. Payment Method: BNB can be used as a method of payment on various platforms that accept it, including merchants and online services.

5. NFTs: BNB is used in the Binance NFT marketplace, both for purchasing and trading NFTs.

BNB Burn:

Binance regularly burns (destroys) a portion of its BNB supply through a process called “token burn”. The goal is to reduce the total supply over time, potentially increasing the scarcity and value of the remaining tokens. Binance typically burns a set amount each quarter based on the exchange’s trading volume.

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