اقتصاد توکنی Binance Coin (BNB)

Issuance Mechanism and Supply

The BNB token was initially launched on Ethereum (ERC-20) on July 5, 2017, with an initial maximum token supply of 200 million BNB. The token was later migrated to the BNB Beacon Chain (BEP-2) and subsequently to the BNB Smart Chain (native BNB).

BNB is designed to be a deflationary token through a continuous burning mechanism, with a long-term goal of reducing the total supply to 100 million BNB (50% of the initial maximum supply). As of December 18, 2024, the total token supply is approximately 150.54 million BNB.

The deflationary mechanism consists of three primary burn programs:

1. BNB Auto-Burn: This mechanism automatically burns a varying amount of BNB quarterly. The amount burned is adjusted based on the BNB price and the number of blocks generated on the BNB Smart Chain (BSC) during the quarter, providing transparency and predictability. This replaced the previous quarterly burn mechanism, which was based on BNB trading volume on the Binance exchange.
2. BNB Real-time Burn (BEP-95): This mechanism burns a portion of the gas fees collected on the BNB Smart Chain in real-time. The burning ratio is determined by BSC validators and is adjustable through governance. This burn is solely dependent on network activity and continues even after the 100 million BNB target is reached.
3. BNB Pioneer Burn Program: This program accounts for BNB tokens accidentally lost by users of the BNB Chain, counting these lost tokens toward the quarterly burn target. The project team reimburses users for accepted cases.

Allocation Mechanism

The initial maximum supply of 200 million BNB was allocated as follows:

The Initial Coin Offering (ICO) was held from June 30, 2017, to July 20, 2017, raising $15 million.

Locking Mechanism and Unlocking Schedule

The initial token distribution included specific vesting schedules for the Founding Team and Angel Investors, while the Public Sale tokens were instantly unlocked.

Initial Unlock Events (Starting July 28, 2017)

The Founding Team's allocation was subject to a vesting schedule: 20% was unlocked at genesis (July 28, 2017), followed by 20% unlocked annually for four more years, concluding on July 28, 2021.

Current Locking Mechanisms (Staking and Yield)

Beyond the initial vesting, BNB tokens are currently locked or staked by users for various purposes:

• Validator Staking (BNB Smart Chain): Users operating a full node must self-stake a minimum of 2,000 BNB to join the validator candidate list. If a delegator chooses to remove staked BNB, there is a seven-day unbonding period.
• Binance Earn Platform: Users can lock BNB in various features:
  • Simple Earn: BNB can be deposited for fixed durations (15, 30, 60, 90, or 120 days) or a "flexible" duration, with varying APRs.
  • BNB Vault: Tokenholders can lock BNB to earn aggregated rewards from Simple Earn and Launchpool features.
  • Launchpad: Users stake BNB to participate in new token sales and earn event-specific rewards. When committing BNB to a Launchpad subscription, the BNB is locked for the duration of the subscription and calculation periods.

Usage and Incentive Mechanism

BNB serves as the native coin and utility token across the BNB Chain ecosystem (BNB Smart Chain, opBNB L2s, and BNB Greenfield) and the centralized Binance exchange.

Network Utility and Fees

• Transaction Fees (Gas): BNB is used to settle transaction fees on BNB Smart Chain, opBNB, and BNB Greenfield.
• Smart Contract Deployment: BNB is required to deploy smart contracts on BNB Chain.
• Validator Management: BNB is used to "un-jail" a jailed validator.

Incentives and Rewards

• Validator and Delegator Rewards:
  • Validators (top 45 nodes) receive BNB tokens derived from the transaction fees included in each block they propose under the Proof-of-Staked Authority (PoSA) consensus mechanism.
  • Delegators receive a proportionate share of the validator's rewards, minus any commission set by the validator. Rewards are distributed daily.
  • Slashing: Validators are penalized for malicious behavior: 200 BNB is slashed for double-signing a transaction, and 10 BNB is slashed for missing more than 150 blocks in a 24-hour period.
• Binance Exchange Benefits:
  • Trading Fee Discounts: Traders can pay spot trading fees in BNB for a 25% discount and futures trading fees for a 10% discount.
  • Launchpad Participation: Staking BNB grants access to new token sales on Binance Launchpad.
  • Yield Generation: BNB can be deposited into Binance Earn features like Simple Earn, Dual Investment, and Auto-Invest to earn yield.
• Ecosystem Support: The project team offers various programs to incentivize development, including a bug bounty program (paid in BNB), the MVB Accelerator Program, and the BNB Incubation Alliance.