Binance’s native cryptocurrency, BNB, was originally launched as an ERC-20 token but later migrated to Binance’s blockchain. BNB is used within the Binance ecosystem for reduced trading fees, participation in token sales, staking, and more. BNB holders receive discounts on trading fees and can use the token across Binance’s ecosystem, including Binance Chain, BSC, and Binance’s NFT marketplace.