اقتصاد توکنی Binance Coin (BNB)

Overview

BNB (Binance Coin) is the native token of the BNB Chain ecosystem, which includes the BNB Smart Chain and BNB Beacon Chain. It was initially launched on Ethereum in 2017 and later migrated to its own chains. The token economics of BNB are designed to support network security, incentivize participation, and facilitate a wide range of use cases within the Binance and BNB Chain ecosystems.

Issuance Mechanism

• Initial Supply: BNB was launched with a maximum supply of 200 million tokens.
• Migration: Originally an ERC-20 token, BNB migrated to BNB Beacon Chain (BEP-2) and BNB Smart Chain (BEP-20). Most BNB now exists natively on BNB Smart Chain.
• Burn Mechanism: BNB employs a deflationary model. Regular token burns (removal of tokens from circulation) have reduced the total supply to approximately 150.54 million as of December 2024.

Allocation Mechanism

Usage and Incentive Mechanism

BNB is a multi-utility token with the following primary uses:

• Transaction Fees: Used to pay for transaction fees on BNB Chain and Binance Exchange, often at a discounted rate.
• Staking and Delegation: Tokenholders can delegate BNB to validators to secure the network and earn rewards. Validators and delegators share rewards, with slashing penalties for malicious or negligent behavior (e.g., double-signing or missing blocks).
• DeFi and dApps: BNB is widely used in DeFi protocols, liquidity pools, and as collateral in lending/borrowing platforms within the BNB Chain ecosystem.
• Binance Earn Platform: Users can lock BNB in products like Simple Earn and BNB Vault to earn APR rewards. Locking periods range from 15 to 120 days, with varying APRs (e.g., 0.05% to 0.5%).
• Launchpad and Launchpool: BNB can be staked to participate in new token launches and earn event-specific rewards.

Locking Mechanism

• Staking Lock: When delegating BNB to a validator, there is a seven-day unbonding period if tokens are withdrawn.
• Earn Products: BNB can be locked for fixed periods (15, 30, 60, 90, or 120 days) in Simple Earn, with corresponding APRs.
• BNB Vault: Aggregates rewards from various sources; tokens are locked for the duration of the product.
• Launchpool/Launchpad: BNB is locked for the duration of the farming or launch event, after which both principal and rewards are returned.

Unlocking Time

• Staking: Seven-day unbonding period for delegated BNB.
• Earn Products: Unlocks at the end of the selected lock period (e.g., 15, 30, 60, 90, or 120 days).
• Launchpool/Launchpad: Unlocks at the end of the event or farming period.

Token Unlock Schedule

• Genesis Supply: As of June 2023, 100% of BNB’s genesis supply is liquid and unlocked, meaning there are no vesting cliffs or delayed unlocks for the initial distribution.
• Ongoing Unlocks: The only new tokens entering circulation are those that become unlocked from staking, earn products, or event-specific locks, all of which are short-term and user-initiated.

Summary Table

Additional Insights

• Deflationary Model: The regular burn mechanism is a key feature, reducing supply and potentially increasing scarcity over time.
• No Long-Term Vesting: Unlike many newer projects, BNB’s entire genesis supply is already liquid, with no ongoing vesting for team or investors.
• Ecosystem Growth: BNB’s utility and incentive mechanisms are closely tied to the growth of the BNB Chain ecosystem, including DeFi, dApps, and Binance’s own products.

This comprehensive tokenomics structure has contributed to BNB’s position as a leading asset in the crypto space, balancing utility, incentives, and supply management for both users and the broader ecosystem.