Suitable for paying for goods on platforms that accept Binance Coin.On the Binance platform, the BNB Coin cryptocurrency performs three functions: As a result, only 100 million BNB will remain, i.e., half of the initially issued volume. According to one of the white paper points, every three months, the Binance exchange sets aside 20% of its income for the subsequent redemption of coins and their burning. The BNB coin is subject to inflation, but the creators took this point into account even at the creation of the white paper stage. Half of the money went to advertising and brand promotion, 35% – for platform development, modernization, and security, and the remaining 15% was directed to the reserve fund. This sum is not very impressive, since some projects raised a more considerable amount without a working business and products. The team succeeded in collecting 15 million US dollars the exchange was supported mainly by investors from China. Under the ICO terms, 50% of Binance Coin tokens were distributed among investors, the team received 40% and 10% – venture investors. On April 18, 2019, Binance Chain was launched, and all BNB tokens were moved to its blockchain in five days. Initially, BNB token standard was ERC-20, operated on the Ethereum blockchain, and was not available for mining. The main goal was to attract investments for the development of the Binance exchange. Binance coin was released in July 2017 during the ICO.
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