BNB, which stands for Binance Coin, is a cryptocurrency created by the cryptocurrency exchange Binance. It was launched in 2017 as an ERC-20 token on the Ethereum blockchain but later migrated to its own blockchain called Binance Chain.

BNB serves as the native cryptocurrency of the Binance ecosystem and is used for various purposes within the platform. Some key uses of BNB include:

Trading Fee Discounts: Binance users can use BNB to pay for trading fees on the platform. By using BNB, users can receive discounts on their trading fees, providing an incentive for holding and using the token.

Token Sales: Binance Launchpad, a platform for launching new cryptocurrency projects, often conducts token sales where participants can purchase new tokens using BNB.

Binance DEX: BNB is the primary token used on the Binance Decentralized Exchange (DEX) for trading and paying transaction fees.

BNB Staking: Binance offers various staking options for BNB, allowing users to lock up their tokens for a specified period to earn rewards or participate in token sales.

BNB Utility: BNB has been expanding its utility beyond the Binance platform. It can be used for payments in some online and physical stores, as well as for travel bookings and other services.

BNB Burning: Binance regularly conducts "coin burns" where a portion of BNB tokens are permanently removed from circulation. This burning mechanism helps to increase the scarcity of BNB and potentially increase its value over time.

It's important to note that investing or trading cryptocurrencies carries risks, and the value of BNB, like other cryptocurrencies, can be highly volatile. It's recommended to do thorough research and exercise caution before engaging in any cryptocurrency-related activities.