# bnb

**Published by:** [Untitled](https://paragraph.com/@0xc7dffd3e352e2852b2d57e747708786c0ec6cd6e/)
**Published on:** 2024-03-27
**URL:** https://paragraph.com/@0xc7dffd3e352e2852b2d57e747708786c0ec6cd6e/bnb

## Content

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.

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