#bnb BNB Coin (Binance Coin) is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance’s own blockchain, Binance Chain, and subsequently to Binance Smart Chain (BSC), which is now merged into the BNB Chain.

Key Features of BNB:

1. Utility Token:

Used for paying transaction fees on Binance Exchange, Binance Smart Chain, and other Binance services.

Offers discounts on trading fees when used on Binance Exchange.

2. Ecosystem:

Powers the Binance Smart Chain, enabling decentralized applications (DApps), DeFi protocols, and smart contracts.

Used in various DeFi services, including staking, yield farming, and liquidity provision.

3. Burn Mechanism:

Binance implements a regular token burn process to reduce the total supply of BNB, increasing its scarcity and potentially its value over time.

BNB burns are calculated based on transaction volumes.

4. Use Cases:

Payment for goods and services (accepted by various merchants).

Investment in token sales via Binance Launchpad.

Participation in governance proposals on BNB Chain.

5. Circulating Supply:

Initially, 200 million BNB were issued, but due to regular burns, the circulating supply decreases over time.

BNB has become a vital component of the Binance ecosystem and a key player in the broader cryptocurrency market. It is one of the top cryptocurrencies by market capitalization.