The Binance Coin (BNB) is a token that was created by one of the world’s largest exchanges, in August 2017. There are a total of 200 million tokens, with Binance conducting a burn every quarter based on trading volumes on its platform. Officials have stated that they plan to eventually blaze 50% of all BNB tokens, reducing the total number of tokens to 100 million.
BNB ties strongly with the exchange’s services and features, like the ICO launchpad and Binance DEX.
BNB is a base pair for many popular tokens, and offers users discounts on fees related to the platform.
The price cut with BNB token are significant, though it will be halved with every passing year. The first year, 2018, sees a discount of 50% in fees, with the next 25% and so on until the fifth year, 2022, where discounts will stop.
The strong exploit and business strategy of the token has seen it receive praise from multiple insiders in the crypto community, and it continues to do well.
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