Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity. BNB is an integral part of the successful functioning of many of the Binance sub-projects. In total, there will only be 200 million BNB. Binance uses the ERC-20 token standard and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees, and others. Binance gives users a huge discount when fees are paid in BNB. Binance announced in a buyback plan that it would buy back and burn up to 100 million BNB. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas. Note: the [hts] subscript denotes that this asset has been bridged through hashport.
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