BNB, or Binance Coin, is a digital currency launched by the world’s largest crypto exchange, Binance, in 2017. The launch of BNB was made possible through an Initial Coin Offering (ICO), which took place from June 26th to July 3rd, 2017.
During the ICO, the issue price for BNB was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. It’s important to note that BNB does not provide its holders with any claim on Binance’s profits and is not considered an investment in the company.
Initially, BNB was issued as an ERC-20 token on the Ethereum network, with a total supply of 200 million coins. Of these, 100 million coins were offered during the ICO.
However, the current total supply has decreased due to periodic burning events and a real-time burning mechanism. BNB has multiple use cases both within the Binance ecosystem and beyond.Read more on ambcrypto.com