Binance Coin, ticker name BNB, runs natively on the Ethereum blockchain. Binance will buy back 20% of the tokens each quarter until only half the tokens remain in circulation. It’s most commonly used to pay for transactions on the Binance platform, where a 50% discount is applied to each trading fee. Although they currently only run as an exchange, there are plans to move Binance onto the blockchain and become a decentralized exchange, in which BNB will become part of its key assets along with the exchange’s gas. Gas will then be distributed to the shareholders in the form of BNB, as a payment for facilitating transactions on the exchange.
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