#Binance Coin ($BNB ) is the native cryptocurrency of the BNB Chain #ecosystem , which encompasses the BNB Beacon Chain and the BNB Smart Chain (BSC). 1 Initially launched as an ERC-20 token on #Ethereum in 2017 to fund the Binance exchange, it later migrated to its own blockchain. 2 BNB has diverse utilities, including paying for transaction fees on the Binance exchange (often at a discount), powering transactions on the BSC, participating in token sales on Binance Launchpad, and being used for various applications within the broader BNB Chain ecosystem, including DeFi and NFTs. Its value is closely tied to the growth and adoption of the Binance ecosystem and the BNB Chain.