On the other hand, if you lock BNB for 60 days, you get a 3.85% APR. You can stake BNB for 120 days and get an 8.99% APR on Binance Earn.Two options for locked staking and the BNB Vault. #BNB is burnt every quarter, with the aim of burning around 50% of the initial supply (from 200M to 100M coins).Īs of today after the recent 20th quarterly burn, 20% of the original supply has been burnt 🔥 /kXmqVp9FinĬurrently, there are 3 different ways of earning passive income on Binance with BNB. To clarify, that’s 50% of 200 million BNB coins.
That is 19.34% of the 50% they are planning to burn. They did this over 20 BNB coin burn events. Since July 2022, Binance burnt a total of 38,683,447.66 BNB coins. However, BNB becomes scarce, and its value will rise. By doing this, the supply remains finite. Binance will continue to do so until there are only 100 million BNB left in circulation. They have a burn mechanism in place for this purpose. This is in alignment with their whitepaper. Debit cards - The Binance debit card has BNB as the default crypto payment option.Įvery quarter, Binance buys BNB coins back and burns them.Loans - Binance and other platforms offer loans with BNB as collateral.Entertainment - Buy virtual gifts or lottery tickets.Sites like Travala or TravelbyBit accept BNB. Payment processing - Merchants can offer BNB as a payment option.On Futures trading fees, that is still 10%. On Spot trades, you receive a 25% discount if you pay the transaction fee with BNB. Nowadays, we know this chain as the BNB chain.Īs a result, we now have three different BNB tokens. In September 2020, they added the Binance Smart Chain. Now you could swap BNB ERC-20 tokens 1:1 to BEP-2 tokens. We also know this chain as the Beacon chain. In April 2018 Binance launched the Binance chain mainnet. 100 million were up for grabs in the ICO. These are individuals who financially back up startups. During the ICO, 10% went to Angel investors. The total supply of the BNB coin is 200 million. The New York State Department of Financial Services approved the BNB coin. Rates were slightly different in those days and 1 ETH got you 2,700 BNB and 1 BTC was good for 20,000 BNB. That was just over a week before the Binance exchange opened its doors.
The BNB coin launched in late June 2017 during an ICO. #Binance Exchange Instructional Video Competition! 2,000 $BNB in Prizes! #cryptocurrency /ZfBOg7b2ZY What else has the BNB coin to offer? We are going to find out. Paying transaction fees with BNB gives you a 25% discount on Spot trading. It powers both the BNB Beacon Chain and BNB Smart Chain. Most centralized crypto exchanges have their native token.
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