Binance: A Case Study of BNB’s Success

Binance attained these heights by executing aggressively on several fronts: expanding geographically, adding to its listing of coins and tokens, and experimenting with new products, including its own decentralized exchange and exchange token.

Then of course there is the BNB token, which could well be the secret to all of this success. BNB was introduced as a utility token with the benefit being that users could reduce the trading fees on the platform by 50% when using it, and it also offered liquidity to these customers.

Bianace got off to a good start with a successful ICO on its BNB token, but it also has done a few innovative and important things as a major exchange that has helped its growth exceed expectations.

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he token is also used for Binance’s 'LaunchPad', another product aimed at helping startups raise capital on their platform. But all of these utilities again boost the benefit of BNB, and essentially, make it much more of a valuable and useful coin than a discount coupon.

It was during our token sale that we acquired our earliest batch of Binance users, and these BNB communit

y members have greatly contributed to our growth.”

But it's only through BNB that we've built such a strong community, and this is the secret of Binance's growth.”

Selling what were in effect shares in itself to US retail investors on its own new US crypto exchange, Binance lifted the biggest middle finger to the US regulators. In the bargain, it juiced the value of BNB incredibly. When Binance formally opened its US exchange, in September 2019, the market cap of BNB was a bit shy of $3 billion. By the fall o