Crypto exchange OKX just announced that they will list BNB for spot trading on their platform.
The following timetable applies to the beginning of BNB trading:
- BNB deposits begin on December 20 at 1:00 PM UTC.
- USDT/BNB & USDC/BNB spot trading begins on December 21at 3 am UTC.
- BNB withdrawals begin on December 22 at 3 a.m. UTC.
What is BNB?
BNB is the native token of Binance Chain, which fuels the entire Binance ecosystem. It is a cryptocurrency that was developed in June 2017, released through an ICO in July, and was first released as an ERC-20 token. Its purpose was originally to be utilized to lower fees on the Binance exchange, but over time, its application was broadened.
For example, it is used to send/cancel orders, generate new tokens, pay fees on the Binance DEX, and transfer assets. BNB offers numerous more use-cases in addition to its on-chain capabilities, including fee reductions on various exchanges (like Binance.com), payment assets on third-party services, and participation rights & transacting money on Binance Launchpad.
There is a burn mechanism at the heart of BNB’s economy that causes periodic reductions in its total supply, which occurs on every three months. Burns are anticipated to continue from its initial maximum supply of 200 million until the supply reaches 100 million.
- Asset name: BNB
- Ticker: BNB
- Total Supply: 200,000,000
- Circulating Supply: 163,276,974 (2022.12.18)