![]() Here's a quick rundown of how BNB tokens were distributed at first:ĭuring the ICO, all 100 million BNB tokens available for public sale were sold for 15 cents each. ![]() BNB tokens were dispersed among various participants including angel investors and the Binance founding team as part of the ICO. Binance Coin was launched in July 2017 with an ICO. Telling the story of Binance Coin’s beginnings would prove difficult without talking about the history of the Binance exchange. Since then, BNB has retained a role in Binance’s growing ecosystem as Binance has expanded into more than a digital asset exchange. ![]() What is a Binance Coin? BNB began as an asset sold in Binance’s initial coin offering (ICO), becoming a way Binance exchange users could pay less trading fees on the platform once the exchange launched. Sometimes, a cryptocurrency exchange may have its own asset that is used for certain purposes on its related exchange such as fee discounts on the trading platform.īinance Coin ( BNB) of the Binance exchange is one such crypto exchange asset. Although each exchange may vary in construction and features, they aim to give crypto traders a place to swap their assets in a broader sense. Several crypto exchanges exist, for example. It is not uncommon to see projects aimed at solving similar needs. The cryptocurrency and blockchain industry includes numerous projects and assets aimed at different goals.
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