# bnb

By [Untitled](https://paragraph.com/@0xc7dffd3e352e2852b2d57e747708786c0ec6cd6e) · 2024-03-27

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*   BNB, short for Binance Coin, is the native cryptocurrency of the Binance exchange\*\*[1](https://qna3.ai/q/bnb#user-content-fn-1%5E)\*\*.
    
*   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](https://qna3.ai/q/bnb#user-content-fn-1%5E)\*\*.
    
*   BNB serves various functions within the Binance ecosystem, including paying for transaction fees, participating in token sales, and governance activities\*\*[2](https://qna3.ai/q/bnb#user-content-fn-2%5E)\*\*.
    
*   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](https://qna3.ai/q/bnb#user-content-fn-1%5E)\*\*.
    
*   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**](https://qna3.ai/q/bnb#user-content-fn-1%5E).

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*Originally published on [Untitled](https://paragraph.com/@0xc7dffd3e352e2852b2d57e747708786c0ec6cd6e/bnb)*