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Binance, What is it? - https://youtu.be/lRx_q7slBww

Binance Coin is digital asset native to the Binance blockchain and launched by the Binance online exchange.

Binance Exchange Most crypto exchanges charge trading fees based on a small percentage of total trade size. Binance was the first to offer discounts on these trading fees if they were paid in the native exchange token. The discount started at 50% for the first year getting reduced to 25% in the second, 12.5% in the third and finally 6.75% in the fourth before being eliminated entirely. These discounts are at the sole discretion of Binance and could be altered at any time.

Launchpad As a progression of the ICO, Binance first popularized the initial exchange offering (IEO) when they announced in January 2019 that they would be selling tokens directly through the exchange every month. Initially, the sales were done on a first come first serve basis. They since pivoted to a lottery system where users can claim tickets based on the number of BNB tokens held over the prior 20 days. The tickets represent a certain allocation of tokens and are drawn randomly. If selected, the user is committed to purchasing that number of tokens at the listed price.

Binance Chain BNB acts as the native token used as gas to pay for network transactions on Binance Chain, a high-performance blockchain network. It initially operates with a small pre-selected validator set, but the plan is to transition to a delegated proof-of-stake (DPoS) consensus mechanism where users can vote using their BNB for delegates that will validate blocks to secure the network. There is also a built-in governance module to let BNB holders submit proposals by depositing tokens which are then voted on.

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