BNB
No. 5Price
Markets
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- Coin Introduction
1. Project introduction
BNB powers the Binance ecosystem and is the native asset of the Binance Chain. BNB is a cryptocurrency created in June 2017, launched during an ICO in July, and initially issued as an ERC-20 token. Designed to be used for a fee reduction on the Binance exchange, its scope was extended over the years.
At the core of the economics of BNB, there is a burn mechanism leading to period reductions in its total supply (~ every three months). From its initial maximum supply of 200 million, burns are expected to continue until the supply reaches 100 million.
2. Team introduction
Binance: Currently the largest digital currency exchange.
3. Application and distribution
Token application:
BNB powers the Binance Chain as its native chain token. For instance, it is used to pay fees on the Binance DEX, issue new tokens, send/cancel orders, and transfer assets. Besides its on-chain functions, BNB has multiple additional use-cases such as fee discounts on multiple exchanges (e.g., Binance.com), payment asset on third-party services, and participation rights & transacting currency on Binance Launchpad.
Token distribution：
ICO: 50%
Founding Team: 40%
Angel investor: 10%
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