$BNB
: BNB has several utility functions within the Binance ecosystem:It's used to pay for trading fees on the Binance exchange at a discount.
It serves as the native currency for the BNB Chain (formerly Binance Chain and Binance Smart Chain), where it's used for transaction fees, staking, and participating in token sales on the Binance Launchpad.
BNB can also be used in various real-world applications like travel bookings, online services, and financial services.

Burning Mechanism: Binance implements an Auto-Burn system, where one-fifth of its profits are used to repurchase and permanently destroy BNB tokens, reducing the total supply. This is done quarterly and is intended to increase the value of the remaining tokens by making them scarcer. Additionally, BNB uses a real-time burning mechanism based on gas fees on the BNB Smart Chain.
