Binance Coin
About Binance Coin
Originally an ERC-20 token on Ethereum, BNB migrated to its own blockchain, the Binance Smart Chain. BNB is used to pay fees on the Binance exchange at a discount. The BNB token has a burn mechanism that reduces supply quarterly. BNB is used for transaction fees, staking, and participating in token sales on the Binance Launchpad. The SEC has alleged that BNB is an unregistered security. BNB is among the top five cryptocurrencies by market capitalization.
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