BNB Chain Ecosystem
BNB Smart Chain is a EVM-compatible layer1 blockchain built by Binance exchange. Read more
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BNB
BNB Smart Chain is a EVM-compatible layer1 blockchain built by Binance exchange.
Tether
USDT is a fiat-collateralized stablecoin pegged to the US Dollar issued by TetherUS.
OMNIA Protocol
OMNIA Protocol is an RPC provider that prioritizes dePIN and aggregation.
Cookie DAO
Cookie DAO is the largest AI agents index and a data layer for AI and humans.
ChainGPT
ChainGPT is an advanced AI model that assists individuals and businesses.
Pepe
Pepe is a meme token rooted in the popular "Pepe the Frog" meme, positioning itself as "the most memeable memecoin in existence".
Uniswap
Uniswap protocol is the largest Automated Market Maker (AMM) DEX on the Ethereum Virtual Machine.
The Graph
The Graph is a protocol for building decentralized applications quickly on Ethereum and IPFS using GraphQL.
USDC
USDC is a fully collateralized, US dollar stablecoin backed by Circle and Coinbase exchange.
Aave
AAVE is the largest decentralized non-custodial liquidity market protocol on Ethereum Virtual Machine.
FLOKI
FLOKI is a meme-token inspired by Elon Musk's Shiba Inu dog, named Floki.
Pendle
Pendle is an on-chain yield asset aggregator that enables the separation and trading of future yield.
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Axie Infinity
Axie Infinity is a Pokémon-inspired P2E gaming ecosystem that you can play on Android phones, iPhones, and on PC.
Axelar
Axelar is a decentralized interoperability platform aiming to connect different blockchain networks.
PancakeSwap
PancakeSwap is a cross-chain automated market maker (AMM) DEX.
1inch
1inch is a DEX aggregator and liquidity protocol on Ethereum Virtual Machine.
Ultiverse
Ultiverse is a web3 social gaming metaverse.
Maverick Protocol
Maverick Protocol is a DeFi infrastructure company that offers liquid markets for traders.
Trust Wallet
Trust Wallet is a self-custody crypto wallet supporting 10M+ assets across 100+ blockchains.
SPACE ID
SPACE ID is a naming service network that connects people, assets, and dApps across different blockchain networks.
Supra
SupraOracles is bridging real-world data to automate, simplify, and secure the smart contracts of financial markets.
Oraichain
Oraichain is a AI Layer 1 blockchain. for Data Economy and Oracle services.
Dai
DAI is a collateral-backed stablecoin pegged to the US dollar issued by MakerDAO.
Ankr Network
Ankr provides a distributed cloud computing on trusted hardware and an integrated data feed system.
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Yield Guild Games
YGG is a DAO that invests in NFTs used in blockchain games.
Ninety Eight
Coin98 is a non-custodial crypto wallet service and suite of DeFi products.
Radiant Capital
Radiant Capital is an omnichain money market for earning interest and borrowing assets cross-chain.
Sidus
Sidus Heroes is a futuristic play-to-earn NFT MMORPG.
Hooked Protocol
Hooked Protocol is a social learning platform.
GT Protocol
GT Protocol is an innovative DeFi platform that combines decentralized social trading and DeFi investment pools management.
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What is BNB Chain Ecosystem?
Binance Coin (BNB) is the native token of Binance Smart Chain (BEP-20) and Binance Chain (BEP-2). Originally launched in 2017 on the Ethereum blockchain, BNB is now used for all operations in the Binance ecosystem. Binance Coin was launched with an initial coin offering (ICO) in 2017, where half of BNB’s strict maximum of 200 million tokens were offered to the public. The rest were distributed between angel investors and founding members.
The coin was created as a utility token for discounted trading fees, but its uses have since expanded to numerous functions, both in and outside of the Binance ecosystem.
What are BNB key features and how does it work?
The Binance ecosystem is powered by BNB, as such, BNB is the native coin to the Binance Chain and Binance Smart Chain (BSC). Both chains operate in parallel and due to their similar designs, they can natively communicate with each other.
Binance Chain is a simple design in terms of its application – the main goal is to facilitate fast trading while being able to handle large amounts of traffic. The most popular DApp on the Binance Chain is Binance DEX. BSC extends this functionality by adding the ability to create smart contracts and more complex DApps.
Binance Smart Chain was created as a hard fork of the Go Etheruem (Geth) protocol, the two chains, therefore, have many similarities and BSC remains compatible with Ethereum Virtual Machine (EVM). It was created to provide faster and cheaper transactions. BSC achieved this by using a different consensus mechanism. Ethereum’s Proof of Work (PoW) consensus is similar to Bitcoin’s, whereas BSC uses Proof of Staked Authority (PoSA).
To help maintain the value of BNB, Binance holds periodic burning events. Every quarter, Binance uses 20% of its profits to repurchase and then burn BNB, meaning it is permanently destroyed. Binance will continue these burns until it reaches 50% of the initial supply, bringing the total to 100 million. This process helps BNB to sustain its value by making the coin finite and scarce.
What can Binance Coin be used for?
Created as a utility token for discounted trading fees, Binance Coin now has a broad range of uses. These include:
paying transaction fees on Binance.com, Binance DEX, and Binance Chain;
- making credit card payments;
- making investments, loans, and transfers;
- entertainment and gaming purposes;
- and travel payments.
Where can you buy BNB?
Binance Coin is available to buy directly on the Binance exchange where it offers most options in terms of trading pairs with BNB. The original exchange also offers the best trading rates for BNB.
You can also buy BNB on the CEXs and DEXs listed on the market tab.