BNB
The fuel of the world's largest crypto exchange ecosystem.
What is BNB?
BNB (Build and Build) is the native cryptocurrency of the Binance ecosystem — the world's largest cryptocurrency exchange by trading volume. Originally launched as an ERC-20 token on Ethereum in 2017, BNB migrated to its own blockchain (BNB Chain) and has grown into a comprehensive ecosystem powering trading fee discounts, DeFi, gaming, and enterprise applications.
BNB Price Chart
All-time high: $788(May 2021)
Live chart data available with market data integration
The Story of BNB
BNB launched via ICO in July 2017, raising $15M to fund Binance's development. It initially served as a utility token for trading fee discounts on the Binance exchange. As Binance grew to dominate global crypto trading, BNB's utility and value expanded dramatically. Binance Smart Chain (now BNB Chain) launched in 2020, bringing EVM compatibility and low fees.
Binance implements a quarterly BNB burn program, using 20% of profits to buy back and destroy BNB tokens — reducing supply over time. The Auto-Burn mechanism adjusts the burn amount based on BNB price and block production, targeting a final supply of 100 million BNB.
How BNB Works
BNB Chain uses Proof of Staked Authority (PoSA) — a hybrid consensus combining Delegated Proof of Stake and Proof of Authority. A set of 21 validators are elected by BNB stakers to produce blocks, enabling fast 3-second block times and low transaction fees (typically under $0.10).
BNB Chain is EVM-compatible, meaning Ethereum smart contracts and tools work natively on the network. This compatibility drove rapid DeFi adoption, with PancakeSwap becoming one of the largest decentralized exchanges globally. The opBNB Layer 2 network further extends scalability.
What BNB Is Used For
Trading Fee Discounts
BNB holders receive up to 25% discount on Binance trading fees, driving consistent demand.
BNB Chain Gas Fees
BNB is the native gas token for all transactions on BNB Chain and opBNB.
DeFi & Yield Farming
BNB Chain hosts hundreds of DeFi protocols with billions in total value locked.
Launchpad Participation
BNB holders get priority access to new token launches on Binance Launchpad.