Binance Coin (BNB) is an ERC20 token issued on the Ethereum blockchain by the popular cryptocurrency exchange Binance. With this cryptocurrency, you can pay a сommission for transactions on the exchange. And if you decide to do so, you will receive additional discounts. In the first year, you will be able to get a discount – 50%, in the second – 25%, in the third – 12.5%, in the fourth – 6.75%. The token was established with a total supply of 200 million. As per the Whitepaper, Binance plans to use 20% of the profits each Quarter to buyback and burn BNB, until 50% of the total BNB supply (100 million) is burned.
Dan is an analyst and contributor for the TD Ameritrade Network where he covers financial markets and the economy. He has held series 7 and 63 securities license and started off as a equity and equity derivatives rep for the trading platform thinkorswim. He holds an MBA from St. Bonaventure University and a B.S. in Finance.