#TradingPairs101

BNB (Binance Coin) is the native cryptocurrency of the Binance exchange, launched in July 2017 in an ICO format (1 ETH = 2700 BNB, 1 BTC = 20,000 BNB). Initially, the token operated as an ERC-20, then was migrated to BEP-2 on Binance Chain, and since 2020 has become the foundation of BNB Smart Chain (BEP-20).

🎯 Main functions of BNB:

• Reduced trading fees on Binance (discounts up to 50%, but decrease annually).

• Payment for transactions on the Binance Chain and BNB Smart Chain networks.

• Participation in IEOs on Launchpad, DeFi platforms, staking, farming, and token lock-ups.

• Payment for goods and services via Binance Card and Binance Pay, booking on Travala, and more.

💎 Burning mechanism: Binance regularly buys back and burns BNB to reduce the supply to 100 million coins, creating a deflationary effect and supporting the token's price.

Today, BNB is in the top 5 cryptocurrencies by market cap (around $49 billion, over 153 million coins in circulation). Since the ICO, the price has risen from $0.15 to hundreds of dollars, and the ecosystem continues to expand thanks to partnerships with Google Cloud and the active development of BNB Chain.

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Conclusion: BNB has transformed from an exchange token into a powerful tool of the Binance ecosystem: from fee discounts to participation in DeFi and staking. 🚀