‼️What is BNB?‼️
BNB (Binance Coin) is the native token of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. Initially, BNB was created as a utility token for paying fees on the Binance platform, but over time its functionality has significantly expanded.
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‼️Key Features of BNB‼️
1. **Usage on the Binance Exchange**
BNB holders can use the token to pay for trading fees with significant discounts. This makes trading on Binance more profitable for active users.
2. **Binance Smart Chain (BSC) Ecosystem**
BNB is the primary token for Binance Smart Chain—a blockchain that supports smart contracts and decentralized applications (dApps). BNB is used to pay for transactions and interact with DeFi projects.
3. **Regular Token Burns**
Binance periodically conducts burns of a portion of BNB, which reduces the total supply of the token and potentially increases its value for holders.
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‼️Uses of BNB‼️
- Payment of fees on Binance and other ecosystem services.
- Participation in Launchpad and Launchpool to acquire new tokens.
- Use in DeFi projects, NFT marketplaces, and games on BSC.