Error PageSecurity Violation (403)

Now, not only does it help reduce the trade fees, it also being used as a voting token for what has been dubbed 'Community Coin of The Month', an idea came about from the suggestion of a Binance community member in the official Slack channel, and is a voting system using the BNB for new coins to be listed.

The token was introduced for a small, but significant reason, and from there, its utility and worth has exploded almost as much as the exchange itself.

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.

Binance has also become renowned for accepting and onboarding new cryptocurrencies at a rapid rate.

"BNB is the fuel in Binance's engine,” He-Yi, Binance co-founder explained to Forbes. “It is well known that our users can reduce trading fees by using BNB.

Technical side, Binance has the ability to handle 1.4 million orders per second, combined with its ability to host 20 million users, and multilingual support, the exchange has huge capacity when it comes to taking on more users without slowing or stalling.

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.”

T

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.