#bnb
Binance Coin (BNB) is the native cryptocurrency of Binance, one of the largest cryptocurrency exchanges globally. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB transitioned to Binance Chain as its primary token. BNB serves multiple purposes within the Binance ecosystem, including providing users with discounts on trading fees when paid in BNB, powering transactions on Binance Smart Chain (BSC), and facilitating decentralized applications (dApps).
One of the key features of BNB is the quarterly token burns conducted by Binance to reduce the total supply, enhancing scarcity and potentially increasing its value over time. BNB is also used for staking, liquidity provision, and participating in token sales on Binance Launchpad. It has become a crucial element of the crypto space, fostering DeFi projects, NFTs, and blockchain innovation. With its utility and growing adoption, BNB remains integral to Binance's success.