#BNB

๐Ÿ”ถ 1. BNB (Binance Coin) โ€“ Cryptocurrency

BNB is the native cryptocurrency of the Binance platform, one of the largest cryptocurrency exchanges in the world. It was initially launched in 2017 as an ERC-20 token on the Ethereum blockchain but later migrated to Binanceโ€™s own blockchain, BNB Chain.

๐Ÿ”น Key Features:

Use Case: Used to pay trading fees on Binance, transaction fees on BNB Chain, and participate in token sales on Binance Launchpad.

Discounts: Users get discounts on trading fees if they use BNB.

Burning Mechanism: Binance regularly "burns" (permanently removes) BNB tokens to reduce total supply and increase scarcity.

๐Ÿ”น Blockchain:

BNB Beacon Chain (previously Binance Chain) โ€“ for governance.

BNB Smart Chain (BSC) โ€“ compatible with Ethereum and used for DeFi, NFTs, etc