BNB, short for Binance Coin, is a cryptocurrency coin that powers the BNB Chain ecosystem. It is a utility token that can be traded like any other cryptocurrency and has various applications and use cases.
BNB can be used to pay for goods and services, settle transaction fees on Binance Smart Chain, participate in exclusive token sales, earn rewards through staking, lend through token farming opportunities, access exclusive token sales on Binance Launchpad, and more.
Additionally, BNB uses an Auto-Burn system to reduce its total supply to 100,000,000 BNB, enhancing transparency and predictability within the BNB community.