BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem, initially launched as an ERC-20 token on the Ethereum blockchain and later migrated to Binance's own blockchain, Binance Chain. BNB plays a crucial role within the Binance ecosystem, offering various utilities such as discounted trading fees on the Binance Exchange, transaction fees on Binance Chain, and participation in token sales on Binance Launchpad. It is also used for a range of services within Binance's decentralized finance (DeFi) ecosystem, including staking and liquidity provision. Over time, BNB has evolved from a simple utility token to a versatile asset that underpins a wide array of applications in the Binance ecosystem and beyond, reflecting its growing importance and adoption in the cryptocurrency space.
