$BNB

What is BNB (Binance Coin)?

BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, which is one of the world’s largest cryptocurrency exchanges. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later migrated to its own blockchain, Binance Chain, and now also operates on Binance Smart Chain (BSC), which supports smart contracts and decentralized applications (dApps).

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Key Features of BNB

1. Utility Token: BNB can be used to pay trading fees on Binance at a discount, participate in token sales on Binance Launchpad, and for transaction fees on Binance Smart Chain.

2. Burn Mechanism: Binance conducts quarterly burns, permanently removing a portion of BNB from circulation to reduce supply, aiming to eventually burn 50% of its total supply, which may increase its scarcity.

3. Multi-Chain Functionality: BNB powers both Binance Chain (focused on fast trading) and Binance Smart Chain (which supports DeFi, NFTs, and dApps), making it versatile within the