此网页仅供信息参考之用。部分服务和功能可能在您所在的司法辖区不可用。

Binance Coin (BNB) and its ecosystem: an in-depth analysis

Build and Build (BNB), formerly known as Binance Coin, is a utility token used on the Binance crypto trading platform. In 2017, it was introduced as an ERC-20 token based on the Ethereum blockchain. BNB's primary function was to offer reduced trading fees for users on the Binance platform.

Binance's role has expanded over time. It developed its own blockchain, the Binance Chain. Later, it introduced the BNB Chain. This combines the Binance Smart Chain (BSC) with the BNB Chain. It allows BNB to do more things, like vote and participate in decentralized finance (DeFi).

TL;DR

  • BNB, initially an Ethereum-based ERC-20 token, was created in 2017 to reduce trading fees on Binance and has since migrated to its own blockchain.

  • BNB is integral to the BNB Chain. It combines the Binance Chain and Binance Smart Chain, enhancing its utility in governance and DeFi.

  • BNB's role extends beyond fee reduction to staking, lending, and participating in new projects within the Binance ecosystem.

  • BNB holders engage in the Binance ecosystem's governance, influencing key decisions on the BNB Chain.

  • BNB faces growth opportunities in DeFi and NFTFi sectors, balanced against regulatory scrutiny and increasing market competition.

What is the Binance Coin (BNB)? Exploring its origins and overview

Formally known as the Binance Coin, Build and Build (BNB) serves as a utility token for the Binance exchange. The asset has an interesting story that's been closely linked to the growth of the cryptocurrency industry. BNB was established in 2017 and first developed as an ERC-20 token based on the Ethereum blockchain.

During its ICO (initial coin offering), Binance made BNB available to the public. This provided funds to help form the exchange and opened the opportunity for BNB to help reduce trading costs for holders. This token utility is usually found on exchanges, and it's something that users of cryptocurrency exchanges are often keen to take advantage of to lessen their trading expenses.

As Binance progressed, so did BNB. Realizing the need for a more specialized environment to support its aspirations, Binance intentionally moved BNB from the Ethereum blockchain to the Binance Chain.

The migration of the BNB marked a significant shift in its development, transitioning it from an ERC-20 token to a core component of the Binance infrastructure. The introduction of Binance Chain wasn't just a technical change — it marked a new era for BNB, extending its potential applications and establishing it as a foundational part of the Binance ecosystem.

What is the BNB Chain?

The Binance ecosystem, initially featuring the Binance Chain and Binance Smart Chain (BSC), has evolved significantly, leading to the formation of the BNB Chain. This evolution represents a strategic move to expand and decentralize the ecosystem, integrating these blockchain networks under the overarching BNB Chain.

Key developments in the Binance ecosystem

Binance smart chain to BNB Chain

BSC, initially a separate layer-1 blockchain, merged with the Binance Chain to form the BNB Chain. This integration aimed to deepen decentralization and broaden the token's utility beyond Binance's platform.

BNB Chain components

The BNB Chain now consists of two main parts:

  • BNB Beacon Chain: This chain handles governance aspects like staking and voting.

  • BNB Smart Chain (formerly BSC): Keeping its compatibility with the Ethereum Virtual Machine (EVM), it continues to support a multitude of blockchain functionalities and applications.

The Evolution of the BNB Token

Originally an ERC-20 token on Ethereum, BNB transitioned to the Binance Chain in 2019 and then played a pivotal role in the development of BSC. Now, as the native token of the BNB Chain, it serves a broader ecosystem, encompassing both the original Binance Chain and the BNB Smart Chain.

Decentralization and community focus

The BNB Chain is defined by its decentralized, open-source, and community-driven setup. This strategy is essential to the chain's well-being and durability, as it relies on efforts from engineers, consumers, validators, and delegators. The chain can accommodate major programs such as SocialFi, GameFi, and the Metaverse.

The transformation from Binance Chain and BSC to the unified BNB Chain marks a significant step in Binance's journey to create a more interconnected, decentralized, and versatile blockchain ecosystem.

How does BNB serve as a utility token?

BNB is primarily used as a utility token on the Binance platform, providing a considerable discount in fees for various trading options.

  • Trading fee reductions: Users benefit from a 25% discount on spot and margin trading fees and a 10% reduction on futures trading fees.

Alongside trading fee reductions, BNB offers a broad range of advantages across the Binance environment and the crypto space.

  • BNB Vault and Binance Launchpool: Users can stake BNB to earn rewards through the BNB Vault or engage in token farming opportunities on Binance Launchpool.

  • Binance Launchpad: BNB holders can access exclusive token sales on Binance Launchpad, often involving early-stage blockchain projects.

  • Binance Pay: Binance Pay is a cryptocurrency payment technology designed by Binance. Shop with crypto or send crypto to friends and family worldwide.

  • Binance Loan: Users can apply for crypto loans using BNB as collateral, providing flexibility in managing their crypto assets.

  • Staking and Yield Earning: Staking BNB contributes to securing the BNB Chain ecosystem, and users can earn a flexible percentage yield by depositing BNB on select BNB Chain projects.

BNB has implemented an auto-burn system that's designed to reduce the total supply to 100,000,000 BNB. This program is based on BNB's cost and the total number of blocks produced on BSC in any quarter, providing visibility and reliability to its users.

BNB helps Binance users save money and do things like stake, lend, and spend on new projects.

What role does BNB play in DeFi on BNB Chain?

The BNB Chain, with its efficient transaction processing and Ethereum virtual machine (EVM) compatibility, has become a hub for DeFi builders. Meanwhile, the low gas fees make it attractive to users also.

DeFi on BNB Chain: an overview

  • Rank and TVL: BNB Chain has earned a high ranking for total value locked (TVL), suggesting a large user base and strong DeFi applications such as decentralized exchanges (DEXs) and lending/borrowing protocols.

  • BUSD stability: BUSD, a stablecoin primarily backed by fiat, serves as a secure basis for DeFi protocols on BNB Chain. It helps to lessen the dangers posed by the wild fluctuations of the cryptocurrency market.

  • Growth areas: BNB Chain provides plenty of chances for growth, such as liquid staking, use of real-world and synthetic assets, derivatives protocols, and payment solutions. These areas of development offer high potential.

Prominent DeFi platforms on BNB Chain

  • Yield aggregators: Notable examples in the field of yield farming include Alpaca Finance, specializing in leveraged yield farming, Autofarm, a cross-chain yield aggregator, and Beefy Finance and PancakeBunny, both of which are dedicated to providing users with optimized returns.

  • DEXs: Noteworthy DEXs operating on the BNB Chain include PancakeSwap, with its automated market maker (AMM) design and game-like elements, and 1inch.exchange, which reduces slippage by dividing orders among multiple DEXs. Other major exchanges are DODO, KyberSwap, and OpenOcean.

BNB's role in DeFi

  • The BNB token plays an essential role in the DeFi ecosystem, typically being used to pay for transaction costs, vote on protocols, and as a trading pair. Its strong existence on the BNB Chain improves the liquidity and usability of DeFi services, boosting the acceptance and advancement of DeFi projects on the BNB Chain.

BNB Chain offers a diverse range of applications and opportunities for innovation. Its combination of technical prowess and the strength of BNB as a utility token makes it an ideal ecosystem for DeFi developers and users alike.

BNB and governance: how do holders participate in the Binance ecosystem?

Governance is a fundamental element of decentralized networks such as the BNB Chain, and BNB holders are given a major role in this regard. The Binance ecosystem allows its users to take part in governance decisions, particularly those associated with the BNB Chain.

This encourages a sense of unity and shared ownership among token holders. Staking not only contributes to the security of the network, but also gives users the ability to cast their vote on key decisions and proposals that'll determine the destiny of the BNB Chain.

The BNB Chain is designed to be an open platform, where all community members can contribute proposals and the collective voice of BNB holders is heard when making decisions. This encourages engagement and involvement, aligning with the decentralized and democratic spirit of the BNB Chain.

BNB holders aren't just spectators — they become a part of the system's growth and advancement. This form of governance highlights the decentralized structure of the BNB Chain and reinforces its vow to be an open blockchain network steered by its users.

What's the impact of Binance Launchpad on new projects? And, how does BNB fuel them?

Binance Launchpad's purpose is the introduction of new cryptocurrency projects and ICOs. The part BNB plays in this system is essential, as it's usually the foundation of engagement in these token sales.

Through ICOs, Binance Launchpad provides blockchain startups with access to important resources such as information, connections, and financing opportunities. And through Binance Launchpad, projects are exposed to over 10 million Binance users who may become involved. To be selected for the Launchpad, projects must go through a rigorous vetting process that looks at factors such as how far along the development is, the team's capability, and the likely benefits to the crypto space.

Participants in ICOs on Binance Launchpad need to have a KYC-verified account on the Binance exchange. The token purchasing process is based on a first come, first served principle, with certain limits on the amount of tokens one can buy, varying per project.

Binance Launchpad has introduced a thorough procedure for launching tokens, including:

  • An initial assessment and evaluation.

  • Application and selection

  • Token sale and allocation.

An in-depth investigation of the project’s white paper, technological documentation, and general feasibility is conducted during the first stage. Post-selection, the projects enter the token sale phase, where BNB is used for purchasing tokens.

After the sale, Binance works closely with projects to distribute tokens and supports them in various ways, including listing on the Binance exchange and marketing assistance.

The success of these launches depends on the quality and practicality of the project, the community's involvement, the trustworthiness of Binance Launchpad, and compliance with regulatory and security requirements. This robust backing system builds confidence and provides development opportunities for new projects in the crypto sector.

What are the key factors of BNB tokenomics?

The Binance ecosystem's native token, BNB, has a distinct tokenomics-based economic model influencing its value and market activity.

The finite amount of 200 million BNB tokens that were pre-mined is a critical factor in the value of BNB, with no more tokens ever being generated.

Key aspects of BNB's tokenomics include:

Token standards

Binance supports two token standards: BEP2 and BEP20. BEP2 tokens are used for transaction fees and staking on the Binance Chain (BNB Beacon Chain). Meanwhile, BEP20 tokens are used on the Binance Smart Chain to support smart contract capabilities and other blockchain operations.

Token burn mechanism

BNB applies an "auto-burn" method with the goal of reducing the total amount of BNB to 100 million. This system controls the amount of BNB to be consumed depending on the price of BNB and the amount of blocks produced in the BNB Smart Chain per quarter. This auto-burn mechanic guarantees a deflationary supply, potentially raising the value of BNB over time.

These features of BNB's tokenomics, including a capped supply and a deflationary burn mechanism, are designed to sustain its long-term value and stability in the cryptocurrency market.

What are the future prospects and challenges for BNB and its ecosystem?

As with any crypto project, BNB and its environment can expect fresh opportunities and considerable difficulties in its futures. That's just the volatile nature of the space. BNB is currently the fourth-largest cryptocurrency globally, and its value has grown exponentially in 2021, with gains of over 13,000%. However, regulatory requirements can add a layer of complexity and uncertainty.

In terms of market trends, since its peak in April 2023, BNB has been trending downwards, with indicators like the Relative Strength Indicator suggesting a lack of momentum. Nevertheless, BNB Chain remains a major force in the DeFi sector, and is sustaining a considerable daily trading volume as of November 2023.

Despite a slight drop in TVL year-to-date, the chain continues to attract innovative projects, contributing to its diversity and strength. New sectors like NFTFi have seen substantial growth, with BNB Chain holding a significant market share in this area.

The interplay between BNB and its environment is a lively one, with growth and difficulty interacting. Its robustness, particularly in the DeFi and developing NFTFi areas, is a plus. Nonetheless, compliance pressures and intensified market rivalry could impact BNB's future potential in the transforming crypto landscape.

The final word

BNB was launched in 2017 when the Binance Exchange held its ICO. It was created to support the exchange's funding and offer discounts on trading fees. As Binance's development continued, BNB was moved to the Binance Chain, becoming a cornerstone of the exchange's infrastructure.

When the Binance ecosystem was created it brought together the Binance Chain and Binance Smart Chain (BSC). This step further decentralized the network, increasing the number of tasks BNB can be used for.

The BNB Chain is composed of the BNB Beacon Chain, responsible for governance, and the BNB Smart Chain, which offers blockchain functionalities compatible with the EVM.

BNB has broadened its role, bringing fee reductions, staking, lending, and participating in new projects. The BNB Chain's decentralized, open-source approach emphasizes community involvement in governance, allowing BNB holders to vote on key decisions.

The Binance Launchpad, using BNB for ICOs, enables access to resources and exposure for new projects, subject to a thorough vetting process. In tokenomics, BNB’s fixed supply, auto-burn mechanism, and BEP2/BEP20 token standards aim to lock in long-term value.

Despite its growth and significant role in DeFi, BNB faces challenges such as regulatory scrutiny and market competition. Its future hinges on navigating these obstacles while capitalizing on its established position in the DeFi and emerging NFTFi sectors.

免责声明
本文章可能包含不适用于您所在地区的产品相关内容。本文仅致力于提供一般性信息,不对其中的任何事实错误或遗漏负责任。本文仅代表作者个人观点,不代表欧易的观点。 本文无意提供以下任何建议,包括但不限于:(i) 投资建议或投资推荐;(ii) 购买、出售或持有数字资产的要约或招揽;或 (iii) 财务、会计、法律或税务建议。 持有的数字资产 (包括稳定币) 涉及高风险,可能会大幅波动,甚至变得毫无价值。您应根据自己的财务状况仔细考虑交易或持有数字资产是否适合您。有关您具体情况的问题,请咨询您的法律/税务/投资专业人士。本文中出现的信息 (包括市场数据和统计信息,如果有) 仅供一般参考之用。尽管我们在准备这些数据和图表时已采取了所有合理的谨慎措施,但对于此处表达的任何事实错误或遗漏,我们不承担任何责任。 © 2025 OKX。本文可以全文复制或分发,也可以使用本文 100 字或更少的摘录,前提是此类使用是非商业性的。整篇文章的任何复制或分发亦必须突出说明:“本文版权所有 © 2025 OKX,经许可使用。”允许的摘录必须引用文章名称并包含出处,例如“文章名称,[作者姓名 (如适用)],© 2025 OKX”。部分内容可能由人工智能(AI)工具生成或辅助生成。不允许对本文进行衍生作品或其他用途。

相关推荐

查看更多
NEON thumbnail
Ethereum
DApps

What is Neon EVM (NEON): the first Ethereum Virtual Machine on Solana

The Ethereum Virtual Machine (EVM) is known to be a foundational element in blockchain technology. It enables secure and automated smart contract execution, underpins decentralized applications (DApps), and provides interoperability across many different crypto projects.
2025年9月12日
Memecoins generic thumb
Memecoins

What is Memecoin: how MEME token may be a game changing memecoin

MEMEcoin is a new cryptocurrency that is gaining popularity in the digital space. It is backed by the Memeland platform, which aims to combine internet memes with blockchain technology. On one end of the crypto spectrum, you'll find altcoins like Solana and Ripple that promise to better the world with their unique blockchain-based solutions. On the opposing end, you'll find . Whether you're a crypto veteran or a beginner in the crypto scene, you'll likely have heard of these . From to tokens, these memecoins are often plastered across social media as crypto enthusiasts often post about them while poking fun at their popularity. While the trend seems to have slowed down as of late after the meteoric rise of PEPE, Memeland seems to have got the meme train going again with their latest project, Memecoin. Wondering what's the hype behind the memecoin brought to us by the team behind 2008's legendary internet humor platform 9GAG? From grasping the Memeland ecosystem to MEME tokenomics, here is what you need to know about Memecoin and the excitement behind the MEME token.
2025年9月12日
2
NFT thumb alt
GameFi
Metaverse
NFT

NFT avatars: the future of online interaction or a bubble ready to burst?

Despite a brief period of waning interest as cryptocurrency prices pulled back from all-time highs set earlier this year, the nonfungible token market is red hot. Digital artists, musicians, and game developers are rapidly reimagining the relationship between creators and consumers using NFTs. Although the sector is increasingly varied, one niche finds itself at the center of this renewed wave of interest: profile-picture NFTs.
2025年9月12日
中级
Avatar thumbnail
Altcoin
Ethereum

Solana vs Ethereum: will SOL's growth threaten ETH dominance?

With teams debuting their shiny new crypto projects every other week, navigating the world of crypto can be overwhelming for newcomers to the space. As you start to build a long-term, high-conviction trading strategy, it's likely you'll be researching prolific projects at the forefront of blockchain technology.
2025年9月12日
中级
6
Solana SPL tokens thumb
DeFi
Altcoin
DApps

Solana ecosystem guide: what are the best SPL tokens to watch?

At the time of writing, Solana remains among the top five largest cryptocurrencies by market value. That status is thanks in large part to a rebound in SOL prices , the project's dedicated community, interest in Solana-based , and its strong DeFi ecosystem.
2025年9月12日
中级
2
What is The Sandbox (SAND)? Unveiling a world where imagination meets blockchain magic
GameFi
NFT

What is The Sandbox (SAND)? Unveiling a world where imagination meets blockchain magic

In the realm of blockchain gaming, The Sandbox emerges as an enchanting metaverse, adding a touch of magic to the world of play and creation. Evolving from mobile gaming sensations like The Sandbox (2011) and The Sandbox Evolution (2016), the platform made a leap to blockchain-based gaming in 2018, aiming to disrupt giants like Minecraft and Roblox. Here, gamers have absolute ownership over their in-game assets through , transforming regular gameplay into a experience.
2025年9月12日
查看更多