BNB runs natively on the Ethereum blockchain and follows the ERC20 token standard. The BNB token was established with a total supply of 200 million. Binance plans to use 20% of our profits each quarter to buy back and burn BNB, until 50% of the total BNB supply (100 million BNB) is burned.
You can also use BNB to pay your fees on the Binance exchange. While you can still choose to pay your fees in the cryptocurrency you’re exchanging, Binance offers a rebate as an incentive to pay fees in BNB. In your first year of membership on Binance, fees are discounted 50% when paid in BNB. With every subsequent year of membership, the fee discount decreases. By your fifth year using Binance, there is no longer a fee discount for paying in BNB.