Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, one of the largest and most influential cryptocurrency exchanges in the world. Launched in July 2017 through an Initial Coin Offering (ICO), BNB was initially an ERC-20 token built on the Ethereum blockchain. In 2019, it migrated to Binance’s own blockchain, the Binance Chain, and later became a key asset on Binance Smart Chain (BSC), now known as BNB Chain.

Originally, BNB was created as a utility token to give users discounts on trading fees within the Binance exchange. Over time, its use cases have expanded significantly. Today, BNB can be used to pay for transaction fees on BNB Chain, participate in token sales on Binance Launchpad, stake for rewards, pay for goods and services with merchants that accept it, and even cover travel expenses through select partners.

A notable feature of BNB is Binance’s quarterly token burn program, where the exchange buys back and permanently removes a portion of BNB from circulation. This reduces the supply over time, potentially increasing scarcity and long-term value. The goal is to eventually burn 50% of the total supply (100 million BNB from the original 200 million).

BNB also powers decentralized applications