$BNB this is the native token of the decentralized BNB Chain network, which is used for transaction payments, covering fees, and participating in network governance. It can also be used on the Binance exchange to gain various benefits, such as discounts on trading fees, token airdrops, and VIP membership. The BNB burning mechanism involves the periodic repurchase and destruction of a portion of BNB tokens, which helps to reduce the overall supply.