![]() ![]() CTO Roger Wang, a former technology expert in investment banking.Who are the Founders of BNB?BNB was a key part of the Binance exchange, which was launched 11 days after the BNB ICO and used BNB for the payment of trading and transaction fees.īinance is the brainchild of Changpeng Zhao, also known as CZ, who is a former employee of Bloomberg and, the co-founder of OKCoin, and the founder and ex-CEO of BijieTech.Īlongside CZ, at the launch of Binance and BNB were: Out of this supply, 100 million BNB were issued at the ICO, 80 million went to the team, and the remainder went to angel investors. As such, BNB was issued at a price of 20,000 BNB to 1 Bitcoin or 2,700 BNB to 1 ETH.Īt launch, BNB existed in the form of an ERC-20 token on the Ethereum blockchain and had a supply of 200 million BNB. When Was BNB Launched?Like many other coins of its vintage, BNB was launched through an Initial Coin Offering (ICO) in June and July 2017.ĭespite being used to raise funds, BNB was not used in a manner similar to stocks in a traditional corporation, offering no governance rights or profit-sharing mechanism. It has also become a strong store of value in its own right, aided by Binance carrying out regular "burns" of the token. Today, BNB has gained many more use cases both within and outside of the Binance ecosystem. ![]() One of its first uses was to pay trading and transaction fees on the Binance exchange. What is Binance Coin (BNB)?BNB is the cryptocurrency token that powers the BNB Chain ecosystem and the Binance cryptocurrency exchange. ![]()
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