This article has been translated from English to Gen Z Slang.
Binance Coin (BNB) is like the ultimate squad goal of crypto, created by Binance, the biggest centralized crypto exchange (CEX). 🚀 Peep their daily trading volume—over 14 billy dollars. 💰
BNB is a utility token you can trade like any other coin, but hold up, it also lets you pay for stuff, slide into token sales, cop virtual gifts, cut down them trading fees, get loans, make transfers, and even handle credit card payments. 📲
Binance Coin was born on the Ethereum blockchain as an ERC20 token but glow'd up to Binance’s own scene, now known as Binance Chain. 🌐
The Binance Chain is literally double trouble, made up of two blockchains both vibing on BNB:
- BNB Beacon Chain – all about governance like a boss 🤴
- BNB Smart Chain (BSC) – vibing with Ethereum Virtual Machine (EVM) to support them smart contracts and buddying up with Ethereum DApps. 🔥
BNB made its debut in 2017 with a coin offering of 200 milly BNB tokens. 🎉
The ICO had its own plan for handing out tokens, done like this:
- 10% to angel investors 😇
- 40% chilling with the founding team 🕶️
- 50% to all other squads out there 💫
BNB's got this auto-burn party every quarter to keep the total supply to 100 million BNB. 🔥🔥
And you know they're using Binance Evolution Proposal (BEP)-95 to roast around 860 BND daily. 🔥
The name of the game is to shrink supply and boost the vibe of the tokens that stick around. 📈
BNB hodlers got them some sleek long-term growth goals, all prepped and ready to slay. 👌