BNB, short for Binance Coin, is the native cryptocurrency of the Binance exchange**1**.

It was initially launched as an ERC-20 token on the Ethereum network but later transitioned to the Binance Chain, becoming the native cryptocurrency of the Binance Chain ecosystem**1**.

BNB serves various functions within the Binance ecosystem, including paying for transaction fees, participating in token sales, and governance activities**2**.

Binance regularly conducts coin burns, where a portion of BNB tokens is bought back and permanently removed from circulation to increase scarcity and potentially drive up the value of the remaining tokens**1**.

BNB has a capped maximum supply of 200 million tokens, with a significant portion allocated to different stakeholders during its initial coin offering (ICO)1.