$BNB

BNB (Binance Coin): Overview and Key Details**

**1. Background**

- **Launched**: July 2017 via an Initial Coin Offering (ICO) by Binance, one of the world's largest cryptocurrency exchanges.

- **Original Purpose**: Designed to reduce trading fees on Binance (users received discounts for paying fees in BNB).

**2. Utility and Use Cases**

- **Exchange Fees**: Discounts on Binance trading fees (though discounts have phased out over time).

- **BNB Chain**: Powers the BNB Smart Chain (BSC), a blockchain supporting smart contracts and decentralized apps (dApps). BNB is used for gas fees on BSC.

- **Payments**: Accepted by some merchants for goods/services (e.g., travel bookings, virtual gifts).

- **Staking**: Earn rewards by staking BNB on Binance or BSC-based platforms.

- **Governance**: Voting rights in some Binance ecosystem decisions.