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About Binance Coin
BNB is the native utility and governance token of the BNB Chain ecosystem, which includes the BNB Beacon Chain and the BNB Smart Chain (BSC). Originally launched in 2017 as an ERC-20 token on Ethereum via an Initial Coin Offering (ICO), it migrated to its proprietary mainnet in 2019. BNB serves as the primary 'fuel' for transaction fees (gas) across its native networks and provides utility within the Binance exchange, such as trading fee discounts and participation in token sales. The asset employs a 'Auto-Burn' mechanism designed to reduce the total supply to 100 million BNB over time. As a foundational Layer 1 asset, it supports a vast ecosystem of decentralized applications (dApps), smart contracts, and decentralized finance (DeFi) protocols.
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