BNB is a cryptocurrency token created by the exchange platform Binance in 2017. BNB was initially launched as an ERC-20 token on Ethereum network for its Initial Coin Offering (ICO) where 100,000,000 BNB (50% of the total supply) was available for purchase.
BNB was created with an initial supply of 20,000,000 BNB to be gradually decreased by manual token burn, with no new BNB minted per block to discourage inflation. Within the Binance Exchange ecosystem BNB is used to pay for transaction fees at a discounted rate and can be staked for users to earn high yield APY returns.
