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The Binance Coin (BNB) is a token that was released by one of the world’s largest exchanges, Binance, in August 2017. There are a total of 200 million tokens, with Binance conducting a burn every quarter based on trading volumes on its platform. Officials have stated that they plan to eventually burn 50% of all BNB tokens, reducing the total number of tokens to 100 million. Binance, which already has the Binance Chain and DEX (decentralized exchange), has said that the BNB token will play a significant role in the future of Binance ecosystem.
As is the case with exchange tokens, BNB ties in strongly with the exchange’s services and features, like the ICO launchpad and Binance DEX. BNB is a base pair for many popular tokens, and offers users discounts on fees related to the platform. It has gained a lot of attention in 2019 for its performance with Binance steadily launching new services that permit the use of the BNB token.
The discounts with BNB token are significant, though it will be halved with every passing year. The first year, 2018, sees a discount of 50% in fees, with the next 25% and so on until the fifth year, 2022, where discounts will stop. Currently in the second year, 2019, with a 25% discount, Binance have announced that they will retain the 25% discount for the third year. Having recently launched a margin trading facility on the platform, the BNB token also features heavily here, as it offers fees that are at half of the rate of any other trading pair.
The strong performance and business strategy of the token has seen it receive praise from multiple insiders in the cryptocommunity, and it continues to perform well.
In this tag, read Binance Coin (BNB) news, price predictions, opinions and analyses created by users.
9 Nov 2022 2 minute read 1 comment Charles Gune
Millions of users bridge tokens across multiple chains where multiple bridge solutions to accommodate users hopping across chains. While this introduced a slew of routes, it also added a layer of uncertainty around which one to pick. With the entrac...
9 Nov 2022 7 minute read 16 comments Patch
In what is, as far as I know, an unprecedented move in crypto. Binance all but kills their main competitor FTX. Then offers an olive branch while their foot still is on their throat. Let us take a look at the events that led up to this. The leaked f...
9 Nov 2022 7 minute read 2 comments Krystal Wallet
It’s been a crazy few days for FTX, after allegations that they are insolvent proved to be true when users withdrew $6 billion worth of funds from the platform. Here’s a breakdown of all the events that led to this potential ‘black swan’ event. FTX a...
9 Nov 2022 2 minute read 1 comment ssaurel
It all started with an investigation by CoinDesk in early November 2022. In its investigation, CoinDesk revealed a big anomaly in the finances of Alameda Research, the trading company of Sam Bankman-Fried, the founder of the FTX exchange. According t...
9 Nov 2022 3 minute read 10 comments PVM
I seen everyone FOMO into the Binance WODL game, where the players must guess/ discover the word by using the given letters. The tries are limited and the prize pool is shared to the participants. But is it worth it or is just a waste of time? I sta...
9 Nov 2022 2 minute read 0 comments Queenofdarkness
There's a new way to earn cryptocurrency, and it's called the mining block club. This innovative new service allows users to complete short tasks in exchange for free crypto. That's right, you can now earn free crypto just by completing simple tasks...
9 Nov 2022 1 minute read 3 comments Yugocean
Yes you read the title right, I have written the truth, the whole truth, nothing but truth. From the starting point, Binance CEO CZ and FTX CEO SBF are not playing well, or perhaps playing tricks behind their work and words. Both CZ and SBF were pla...
9 Nov 2022 4 minute read 5 comments Cje95
The last 24ish hours have been absolutely insane, to say the least. After crypto seemed to be finding its footing and looking to finally break out and break up rumors emerge about FTX facing insolvency. If you had asked me about this happening a week...
8 Nov 2022 5 minute read 5 comments Messin' With Cryptos
There has been a ton of information that’s come out in the past 24 hours that’s come out between the battle between FTX (Sam Bankman Fried) and Binance (CZ), and staying as objective as possible, there’s a ton of observations that I’ve been making fr...
8 Nov 2022 4 minute read 1 comment clubby
The Demise of FTX? On November 8th, something strange was going on over at the exchange FTX. People began to speculate that the exchange was in serious trouble and rumors began to circulate that problems were on the horizon. CZ of Binance tweeted thi...
