BNB is the cryptocurrency token of the Binance platform, one of the largest cryptocurrency exchange platforms in the world. BNB was originally launched on the Ethereum network as ERC-20 tokens, but has since been migrated to its own blockchain known as Binance Smart Chain (BSC).

🔸️ BNB Functions:

1. Trading Fees:

BNB can be used to pay for trading fees on the Binance platform, where the platform offers discounts to users who use BNB to cover fees.

2. Participation in Initial Exchange Offerings (IEOs):

BNB users can participate in IEOs held on the Binance Launchpad.

3. Smart Contracts:

On the Binance Smart Chain, BNB can be used in the development of smart contracts and decentralized applications (dApps).

4. Payment Settlements:

BNB can be used in many stores as a means of payment.

🔸️ Other Uses:

BNB features multiple aspects, including the ability to convert currencies, facilitate investments in new coins, and interact with various DeFi projects.