$BNB

Platform tokens are native tokens issued by exchanges, usually used to pay transaction fees, participate in platform activities, or enjoy discounts, with a detailed introduction and comparison of BNB from Binance and OKB from OKX:

BNB (Binance Coin)

Overview:

  • Issuance Date: July 2017, launched through ICO.

  • Initial Use: Initially a discount token for paying Binance trading fees.

  • Current Total Supply: Approximately 147 million coins (as of March 2025, original total of 200 million coins, reduced through periodic burns).

  • Blockchain: Initially based on Ethereum (ERC-20), now migrated to Binance Smart Chain (BSC, BEP-20).

Functions and Uses:

  1. Trading Fee Discount: Using BNB to pay trading fees on the Binance platform can enjoy a 25% discount (for spot and futures).

  2. Ecosystem Support: Used for DeFi, NFT, payments on BSC (e.g., Binance Visa card cashback of 8%).

  3. Launchpad Participation: Holding BNB allows participation in new coin launches (Launchpool/Launchpad).

  4. Burning Mechanism: Binance buys back and burns BNB using 20% of profits quarterly until the total supply is reduced to 100 million coins, enhancing scarcity.

  5. Value-Added Services: Payments for travel bookings (Travala), charitable donations, etc.

Value and Performance:

  • Historical Price: From $0.15 at ICO, peaked over $686 during the 2021 bull market, currently (assuming March 2025) may fluctuate between $300-500.

  • Market Cap Ranking: Typically ranks in the top 5 of cryptocurrencies (e.g., steady at 4th in 2023).

Advantages: Widespread ecosystem, burning mechanism supports value growth, and a large global user base.
Disadvantages: Linked to regulatory risks with Binance; if the platform is restricted, it may impact BNB.

OKB (OKX Token)

Overview:

  • Issuance Date: March 2018, launched as the platform coin of OKEx (now OKX).

  • Initial Use: To provide trading fee discounts and ecological incentives for OKX users.

  • Current Total Supply: Approximately 246 million coins (as of March 2025, original total of 1 billion coins, most of which have been burned).

  • Blockchain: Initially based on Ethereum (ERC-20), now supports OKX Chain.

Functions and Uses:

  1. Trading Fee Discount: Using OKB to pay trading fees on OKX can enjoy discounts (decreasing with holding amount and trading volume, e.g., from 0.08% to 0.05%).

  2. Ecosystem Incentives: Participation in Jumpstart (new coin subscriptions), staking for earnings.

  3. Buyback and Burn: OKX regularly buys back OKB with profits and burns them, having burned about 75% of circulation as of 2023, with plans to continue reducing.

  4. On-Chain Applications: Supports DeFi and cross-chain functions on OKX Chain.

  5. Holding Benefits: Holding OKB allows for VIP level upgrades, reducing rates.

Value and Performance:

  • Historical Price: Issuance price around $1, peaked over $34 in 2021, currently (assuming March 2025) likely in the range of $20-40.

  • Market Cap Ranking: Typically ranks in the top 20-30 (around 20th in 2023).

Advantages: High burning ratio, low fees, and the OKX ecosystem is gradually expanding.
Disadvantages: The ecological application is not as widespread as BNB, and its recognition is slightly inferior.

Comparison Summary

Dimension BNB (Binance) OKB (OKX) Issuance Date July 2017 March 2018 Total Supply 147 million coins (continuously burning) 246 million coins (higher burning ratio) Blockchain Binance Smart Chain OKX Chain Main Uses Trading fee discounts, BSC ecosystem, Launchpad Trading fee discounts, Jumpstart, on-chain applications Burning Mechanism Quarterly burn 20% of profits Regular buyback and burn, higher ratio Price (Assumption) $300-500 $20-40 Market Cap Ranking Top 5 Top 20-30 Ecosystem Extremely broad (DeFi, NFT, payments, etc.) Smaller but growing (Web3, DeFi) User Base Largest globally (120 million+ users) Large (50 million+ users)

Selection Recommendations

  • BNB: Suitable for users who are optimistic about the Binance ecosystem, pursue long-term value growth, and diverse applications. Its price is highly volatile, but it enjoys high global market recognition and strong appreciation potential.

  • OKB: Suitable for investors who focus on low-cost trading, loyal users of the OKX platform, or expect the burning mechanism to drive up prices. Its ecosystem is smaller, but it offers high cost-effectiveness.