BNB

Beginner

BNB is a cryptocurrency created in 2017. It was first launched through an Initial Coin Offering (ICO), which took place between the 26th of June to the 3rd of July. The token sale offered 100,000,000 units of BNB (50% of the total supply). The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB (around 0.10 USD per coin at the time).

A few years later, the BNB project evolved into the utility token of the BNB Chain network, where you can use BNB to pay for blockchain fees and engage with decentralized finance (DeFi) products. BNB Chain operates with a community-driven approach, allowing anyone to become a network validator through BNB stakes.

BNB was initially issued as an ERC-20 token (on the Ethereum platform), but has since been transferred to the main BNB Chain. The initial total supply of BNB was defined as 200,000,000 coins, but due to the regular coin burn events, the supply is gradually decreasing.

BNB has multiple use cases. It's used as a utility token that can be used to:

Pay for transaction fees on the BNB Chain;
Pay for goods and services for both online and in-store purchases (e.g., using Binance Pay);
Community utility token on the BNB Chain ecosystem (used in games, DApps, etc.);
Participate in token sales hosted on the Binance Launchpool;
Donate via Binance Charity;
Provide liquidity on DeFi platforms;
Give Binance users discounts on trading fees (check the Fees page for more details).

Learn more: What Is BNB?

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