BNB, which stands for “Build and Build,” is a utility token created by Binance in 2017. It powers the Binance ecosystem and provides discounted trading fees for users.
Originally launched as an ERC-20 token on Ethereum, it later transitioned to BEP-2 BNB on the Binance Chain and BEP-20 BNB on the Binance Smart Chain.
BNB has a total supply of 200 million coins, with various use cases within and beyond the Binance ecosystem.
Use Cases:
- Trading Fees: BNB reduces trading fees on the Binance exchange.
- Binance DEX: It’s used to pay trading fees on Binance’s decentralized exchange (Binance DEX).
- Transaction Fees: BNB covers transaction fees on both the BNB Beacon Chain and BNB Smart Chain.
- Payments: You can use BNB for online and in-store purchases (e.g., via Binance Card or Binance Pay).
- Travel and More: Book hotels, flights, and more at Travala.com using BNB.
- Community Utility: BNB serves as a utility token for games and DApps within the BNB Chain ecosystem.
- Token Sales: Participate in token sales on Binance Launchpad.
- Charity: Donate using BNB on Binance Charity.
- Liquidity Provision: Provide liquidity on Binance Liquid Swap.
Price predictions for late-2024, go around $720 to $950
Remember DYOR and be safe.
