🔥 What is BNB and why is it key in the Binance ecosystem?
BNB (Binance Coin) was born in 2017 as a utility token to pay for discounted fees on Binance.
Initially, it was an ERC-20 token on the Ethereum network, but later migrated to its own blockchain: BNB Chain, which powers a whole ecosystem of DeFi, NFT, Web3, and more.
BNB is not only used for trading, but also for:
🔹 Paying fees on Binance
🔹 Participating in Launchpads
🔹 Using decentralized applications (DApps)
🔹 Staking or farming on Binance Earn
🔹 And even paying at real-world merchants
Additionally, Binance burns BNB every quarter, reducing its total supply and increasing its scarcity in the long term.
With each update of the Binance ecosystem, BNB gains more strength as a multifunctional asset.