BNB

BNB Launched 2017 source

What this page is: neutral, sourced facts about BNB. Every line links where it was checked. 10 facts, 2 from primary sources. Educational, not financial advice.

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Launch

Originally launched in 2017 as Binance's exchange token. secondary source source

Founders and creators

Binance was founded in 2017 by Changpeng Zhao, who co-founded it with Yi He. secondary source source

Origin story

Mainnet launch on April 18, 2019, transitioning from the Ethereum network to BNB Chain. secondary source source

Stated purpose

Designed to offer trading fee discounts and other utilities within the Binance platform. secondary source source

Consensus mechanism

The BNB Chain whitepaper describes a Proof of Staked Authority consensus as an alternative to Proof-of-Work, which it calls not friendly to the environment. primary source source

Supply model

Auto-Burn system to gradually reduce total supply to 100,000,000 BNB. secondary source source

Main uses today

BNB supports transactions on the BNB Smart Chain (BSC), the opBNB L2s and BNB Greenfield; besides transaction fees, it serves as a governance token. secondary source source

Key milestones

In July 2018, Binance acquired Trust Wallet, a decentralized cryptocurrency wallet. secondary source source

Notable events and controversies

Oct 2022 exploit of the BSC Token Hub cross-chain bridge minted 2 million BNB. secondary source source
Nov 21, 2023: total financial penalty $4,316,126,163; Changpeng Zhao pleaded guilty and resigned as CEO. primary source source

Sources & studies

Last checked: 2026-11-04 · Prices, market caps and circulating supply are left out on purpose because they change by the minute. Educational, not financial advice.

Education only, not financial advice. No signals. Backtests are hypothetical: real trading can be worse. Past results don't predict future results.