BNB began life as a utility token for the Binance exchange, offering fee discounts to holders. Over time it evolved into the native currency of BNB Chain - a high-throughput blockchain that runs alongside Binance's exchange business. BNB Chain attracted massive adoption during the 2021 bull run because it offered near-identical developer tools to Ethereum (full EVM compatibility) but with dramatically lower fees. Today the BNB ecosystem includes thousands of DeFi protocols, NFT marketplaces, and a dedicated smart contract chain. Binance systematically burns BNB every quarter based on exchange revenue, gradually reducing total supply.
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