Launched in 2017 through an Initial Coin Offering (ICO), BNB (formerly Binance Coin) is the native cryptocurrency of the Binance ecosystem, the world's largest crypto exchange by volume. Originally created as an ERC-20 token on Ethereum to offer users discounted trading fees, it has since migrated to become the fuel for the BNB Chain—a dual-chain architecture comprising the governance-focused BNB Beacon Chain and the smart-contract-enabled BNB Smart Chain (BSC). This evolution transformed BNB from a simple discount coupon into a versatile utility asset used to pay for transaction gas fees, participate in token sales on the Binance Launchpad, and power a vast ecosystem of decentralized applications (dApps) and games. To maintain scarcity and value, the protocol employs a deflationary "Auto-Burn" mechanism that automatically destroys a portion of the supply each quarter based on the token's price and the number of blocks produced.
