BNB is a cryptocurrency that serves as the native utility token of the BNB Chain ecosystem and is closely tied to the Binance exchange.bnbchain+2
Basic definition
- BNB (originally “Binance Coin,” now commonly interpreted as “Build and Build”) is a digital asset launched in 2017, first via an ICO before the Binance exchange opened.calebandbrown+1
- It consistently ranks among the largest cryptocurrencies by market capitalization and is used both on-chain and within Binance’s services.binance+2
Role in BNB Chain
- BNB is the native token of BNB Chain, which includes BNB Smart Chain (BSC), opBNB (Layer 2), and BNB Greenfield (decentralized storage).binance+1
- On these networks, BNB is used to pay transaction (gas) fees, deploy and interact with smart contracts, and participate in staking and on-chain governance.bitcoin+2
Uses on Binance
- On the Binance exchange, users can pay trading fees with BNB to receive discounted fees on spot, margin, and futures markets, with larger discounts for higher-tier (VIP) accounts.binance+1
- Holding and using BNB on Binance may grant access to token launches (Launchpad/Launchpool), airdrops, and other reward or earning programs.forbes+2
Real-world and DeFi use cases
- BNB is widely used in DeFi applications built on BNB Chain, including DEXs, lending protocols, and GameFi/NFT platforms.cointelegraph+2
- Outside DeFi, BNB can be spent via payment services (e.g., Binance Pay) for shopping, travel bookings, entertainment, and various online services at merchants that accept it.bnbchain+1
Token economics
- BNB has a deflationary design: the network regularly burns (destroys) a portion of the supply through an Auto-Burn mechanism and gas-fee burns, targeting a maximum supply of 100 million BNB.binance+2
- This burn process is algorithmic and transparent, adjusting the amount burned based on factors like BNB price and BNB Smart Chain block activity.forbes+1
- https://www.bnbchain.org/en/what-is-bnb
- https://calebandbrown.com/blog/what-is-bnb/
- https://www.binance.com/en/bnb
- https://www.binance.com/en/academy/articles/what-is-bnb
- https://www.forbes.com/sites/digital-assets/article/what-is-binance-bnb/
- https://support.bitcoin.com/en/articles/7894847-what-is-bnb-token-and-how-do-you-use-it
- https://cointelegraph.com/learn/articles/what-is-binance-coin-bnb-and-how-does-it-work
- https://corporatefinanceinstitute.com/resources/cryptocurrency/binance-coin-bnb/
- https://www.youtube.com/watch?v=bcFJReS5FcA
- https://trezor.io/learn/supported-assets/ethereum-layer-2-EVM/what-is-bnb-token-and-bnb-smart-chain