The Binance blockchain is built using Ethereum and uses $BNB as its native token. It was launched during an initial coin offering (ICO) in July 2017 and has a strict maximum of 200 million $BNB tokens.

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The ICO offered 10%, or 20 million, $BNB tokens to angel investors, 40%, or 80 million, tokens to the founding team, and the remaining 50%, or 100 million, to the various participants.

Almost half the funds raised during the ICO process were intended to be used for Binance branding and marketing, while around one-third were used to build the Binance platform and perform necessary upgrades to the Binance ecosystem.