What is Binance Coin (BNB)?
BNB was applied for an initial coin offering in 2017, 11 days before it became the equivalent of the Binance cryptocurrency exchange.
Originally released as an ERC-20 token running on the Ethereum network, the total supply was limited to 200 million tokens and 100 million
BNB offered at the ICO. However, ERC-20 BNB coins were traded for BEP2 BNB at a rate of 1: 1 in April 2019 with the replacement of the Binance Chain mainnet and are no longer hosted on Ethereum.
BNB can be used as a payment method, a utility token to pay for fees on the Binance exchange, and to participate in token sales on the Binance launchpad. BNB also powers Binance DEX (decentralized exchange).