$BNB

BNB is the native cryptocurrency of Binance, one of the world's largest cryptocurrency exchanges. BNB was launched in 2017 as part of an initial coin offering (ICO) to support the development of the Binance platform.

Key facts about BNB:

1. Primary purpose:

BNB is used to pay trading fees on the Binance platform, where users get discounts if they use BNB.

It is also used in other applications and services within the Binance ecosystem.

2. Uses:

Trading fees: Reduce trading fees on Binance.

Payment: Can be used as a means of payment in some stores and services that accept cryptocurrencies.

Smart contracts: Used on the BNB Beacon Chain and BNB Smart Chain networks, which are two forks of Binance.

Investment and financing: Can be held in Launchpad projects or as collateral in lending services.

3. Burning Mechanism:

Binance burns a portion of its BNB coins regularly to reduce the supply and increase its value in the long run.

4. Total Supply:

At launch, there were 200 million BNB. With continuous burns, the number is gradually decreasing.

5. BNB Smart Chain Network:

Supports smart contracts and decentralized applications (dApps).

It is a competitor to the Ethereum network due to its low fees and transaction speed.

If you are interested in buying or investing in it, it is best to make sure that you do your research and understand the market well.