BNB price (BNB)

What is BNB?

BNB (BNB) is ranked #4 by market capitalisation on CoinGecko. It is listed in these categories: Smart Contract Platform, Exchange-based Tokens, Centralized Exchange (CEX) Token, Layer 1 (L1).

BNB is the native utility token of the BNB Chain ecosystem, acting as a multi-chain asset that powers decentralized applications and facilitates value exchange across its network. It serves as the primary asset for paying transaction gas and smart contract deployment fees while providing users with tiered fee discounts on the Binance exchange. The project’s main value proposition lies in its unified multi-chain architecture, which integrates a smart contract platform, a Layer 2 scaling solution, and a decentralized data storage network into a cohesive settlement and data availability layer.

The network operates on a Proof of Staked Authority consensus mechanism, utilizing a group of 21 active validators known as the Cabinet to verify transactions and produce blocks every 3 seconds. Validators are elected daily based on the amount of BNB staked or delegated to them, and the system employs fast finality and slashing penalties to maintain security and integrity. To manage its long-term economy, the project uses a programmatic dual-burn strategy that permanently removes tokens through real-time fee destruction and quarterly buybacks.

Launched in 2017 by the Binance platform, the project initially distributed 50% of its 200 million token supply to the public, while the founding team received 40% and angel investors were allocated 10%. Though it began as a token on the Ethereum network, it eventually migrated to its own autonomous architecture that remains fully compatible with the Ethereum Virtual Machine. Today, the token's utility includes paying for network gas, participating in staking rewards, and enabling decentralized governance through which holders can vote on technical upgrades and economic changes.

Description source: CoinGecko.

How to swap BNB on Oddrix

1. Open the Oddrix swap page and connect your wallet.
2. Choose the coin you send and BNB as the coin you receive, then enter the amount.
3. Check the best live quote and sign the transaction in your wallet.

BNB → ETHETH → BNBBNB → BTCBNB → USDTBNB → DOGESOL → BNB