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$BNB (Binance Coin)** is the native cryptocurrency of the **Binance** exchange, one of the world's largest cryptocurrency trading platforms. Originally launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB later migrated to Binance's own blockchain, the **Binance Chain**, in 2019.

### Key Features and Uses of BNB:

1. **Exchange Fee Discounts**: One of the primary uses of BNB is to pay for transaction fees on the Binance exchange at a discounted rate. Users who hold and use BNB to pay fees receive a percentage off, which has made the coin popular among active traders.

2. **Binance Smart Chain (BSC)**: BNB plays a crucial role in Binance’s decentralized ecosystem, especially with the launch of **Binance Smart Chain**. BSC is a blockchain designed for creating decentralized apps (dApps) and smart contracts. BNB is used to pay for transaction fees on BSC, just like gas fees in Ethereum.

3. **Staking**: On Binance, users can stake BNB to earn rewards. This allows holders to earn passive income by participating in the network’s security and operations.

4. **Token Burn**: Binance regularly burns (destroys) a portion of BNB to reduce its total supply. This deflationary model is intended to increase the scarcity of BNB, potentially driving up its value over time.

5. **Participation in Token Sales**: BNB is used to participate in **Binance Launchpad** token sales, giving holders access to early-stage cryptocurrency projects.

6. **DeFi and DApps**: BNB is also used within the **DeFi** (Decentralized Finance) ecosystem on Binance Smart Chain, enabling users to engage in activities like lending, borrowing, and liquidity provision.

### Summary

BNB started as a utility token for Binance users but has since grown into a significant asset with use cases spanning from exchange fee discounts to powering decentralized applications on Binance Smart Chain. Its utility and deflationary tokenomics have made it a popular cryptocurrency in the broader market.