BNB, or Binance Coin, is a cryptocurrency that was created by the Binance cryptocurrency exchange. Binance is one of the largest and most popular cryptocurrency exchanges globally. BNB was initially launched as an ERC-20 token on the Ethereum blockchain in July 2017, but it has since transitioned to its own native blockchain called Binance Chain.

BNB serves multiple purposes within the Binance ecosystem. It can be used to pay for trading fees on the Binance platform, participate in token sales on Binance Launchpad, and access various services within the Binance ecosystem. BNB also powers the Binance Decentralized Exchange (DEX), which is built on the Binance Chain.

One of the significant use cases for BNB is the Binance Launchpad, where users can invest in new blockchain projects and tokens. During token sales on the Launchpad, BNB is often the primary currency accepted, and it gives users various benefits, such as the opportunity to participate in token sales, obtain early access to new projects, and receive airdrops or exclusive rewards.

Binance periodically conducts "token burns" where they use a portion of their profits to buy back and destroy BNB tokens. This process aims to reduce the total supply of BNB over time, potentially increasing its value.

BNB has gained significant popularity and utility since its inception. It has become one of the top cryptocurrencies by market capitalization and has been integrated into various third-party platforms and services beyond the Binance ecosystem.

However, please note that cryptocurrency markets are highly volatile and subject to risks. It's important to conduct thorough research and exercise caution when dealing with cryptocurrencies.