This article was first published on Ethos
Binance Coin BNB Available on Universal Wallet
Since launching in 2017, Binance has become one of the most popular crypto asset exchanges globally. Following their ICO, Binance distributed BNB, an ERC20 token, to their ICO contributors.
The most prominent use case of BNB is realized by traders on the Binance exchange. BNB grants the ability for users of the Binance exchange to pay for fees, obtaining the equivalent of a 25% discount on trading fees. In each subsequent year of the BNB trading fee discount program, the discount the token provides halves for the first 4-years.
The Binance Token also serves as the underlying gas which powers the Binance Ecosystem. Every quarter Binance takes 20% of their profits to purchase back Binance coin and burn them, effectively reducing the circulating supply while enhancing value.
Eventually, Binance will destroy 100M BNB, leaving 100M BNB remaining.
Additionally, adoption of the Binance token is spreading, with users of the Uplive platform now able to buy virtual gifts with BNB. As Binance launches their DEX, Binance token will also serve as the gas of that ecosystem.
As we move forward on the path of crypto asset adoption, we look forward to bringing communities together through the Universal Wallet, providing them with a safe and secure place to store, send and receive their assets.
We so greatly appreciate Binance supporting the Ethos token on their exchange, and we are thrilled to support the BNB Coin on our wallet and support the mission and road to mass adoption.
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