BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, initially launched in 2017 as an ERC-20 token on Ethereum and later migrated to Binance's own blockchain, Binance Chain. It powers the Binance exchange by offering users discounted trading fees when paid with BNB, making it integral to the platform's operations. The coin's supply is periodically reduced through a "burn" mechanism to create scarcity and enhance its value.