bnB

BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem. It was launched in 2017 through an initial coin offering and began as an ERC-20 token on the Ethereum blockchain. In subsequent years it migrated to the Binance Chain and later to the Binance Smart Chain, which is now referred to as the BNB Chain. The token serves as the core gas, payments, and access unit within the ecosystem.

BNB is used to pay transaction fees on the Binance Exchange and on the BNB Chain networks, where gas fees are denominated in BNB. It can be used to participate in token sales on Binance Launchpad, and to access a broad range of decentralized applications, wallets, and services built on the BNB Chain. It is also traded on most major cryptocurrency exchanges and widely included in wallet integrations and DeFi protocols.

BNB has a capped supply of 200 million tokens. Binance conducts periodic burns of BNB, reducing the total supply with the aim of eventually reaching 100 million BNB in circulation by burning a portion of the supply based on platform activity. The burn program is designed to shorten the token’s supply over time and influence scarcity.

Governance for the BNB ecosystem is not directly controlled by token holders, as the token is issued by Binance and used across a private ecosystem. Regulatory developments affecting Binance and broader crypto markets can influence BNB’s price and usage, though the token itself operates as the utility and economic backbone of the Binance platform.