Binance Coin (BNB) made its debut on the Binance exchange on July 25, 2017. this date marked a meaningful milestone, as BNB was launched during an Initial Coin Offering (ICO) that ran from June 26, 2017 to July 3, 2017. The ICO aimed to raise funds for Binance’s operations and to develop the Binance platform. Initially offered at a price of 0.10 USD per BNB, the coin quickly garnered interest, leading to a robust initial trading volume on the exchange.
Since its launch, BNB has evolved beyond a simple utility token for trading fee discounts; it now powers various features within the Binance ecosystem. Its versatility is underscored by the many applications it supports, including:
- Transaction fees on the Binance platform
- Participation in token sales on Binance Launchpad
- Staking for rewards
- DeFi products within Binance Smart chain