How does Binance Coin work?
BNB
#BNBChainOverSolanaInDEXVolume
#WalletConnect
BNB was built on the Ethereum blockchain according to the ERC20 standard, allowing it to store and retain value. The digital currency BNB cannot be mined as it was pre-mined and distributed through an ICO. BNB is used for discounted trading on the Binance trading platform. The discount rate started at 50% in the first year but is set to be halved every year. By the fifth year, there will be no discount affecting the value of BNB. To counteract the decrease in value, Binance has taken to repurchasing its digital currencies and destroying them to reduce supply.
The Binance cryptocurrency exchange plans to eliminate half of the circulating BNB coins. As we mentioned at the beginning of the article, the main goal of BNB is to support cryptocurrency exchanges and enable the Binance ecosystem to expand further. Currently, the digital currency BNB can be used for trading discounts and in many stores and entities that accept it as a payment currency.
BNB
#BNBChainOverSolanaInDEXVolume
#WalletConnect
BNB was built on the Ethereum blockchain according to the ERC20 standard, allowing it to store and retain value. The digital currency BNB cannot be mined as it was pre-mined and distributed through an ICO. BNB is used for discounted trading on the Binance trading platform. The discount rate started at 50% in the first year but is set to be halved every year. By the fifth year, there will be no discount affecting the value of BNB. To counteract the decrease in value, Binance has taken to repurchasing its digital currencies and destroying them to reduce supply.
The Binance cryptocurrency exchange plans to eliminate half of the circulating BNB coins. As we mentioned at the beginning of the article, the main goal of BNB is to support cryptocurrency exchanges and enable the Binance ecosystem to expand further. Currently, the digital currency BNB can be used for trading discounts and in many stores and entities that accept it as a payment currency.
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