BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem. Initially launched on the Ethereum blockchain as an ERC-20 token, BNB later migrated to Binance's own blockchain, Binance Chain. It is primarily used to pay for transaction fees on the Binance cryptocurrency exchange, participate in token sales on Binance Launchpad, and for staking in various decentralized finance (DeFi) applications on the Binance Smart Chain (BSC).
