Binance Coin (BNB) -rahakkeen tokenomiikka

BNB is the native utility token of the BNB Chain ecosystem, which includes the BNB Smart Chain (BSC) and the BNB Beacon Chain. Originally launched as an ERC-20 token on Ethereum in July 2017, it has since migrated to become the core asset powering decentralized applications, governance, and transactions within its own blockchain network.

Issuance Mechanism

BNB was launched with an initial maximum supply of 200,000,000 tokens. Unlike inflationary assets that continuously issue new tokens, BNB is designed to be deflationary through systematic burn mechanisms. As of December 18, 2024, the total supply has been reduced to approximately 150,540,000 tokens.

The supply reduction is driven by three primary mechanisms:

• Auto-Burn: A quarterly process that automatically removes BNB from circulation. The amount burned is calculated based on the token's price and the number of blocks generated on the BNB Smart Chain during that quarter.
• Pioneer Burn: A program that counts BNB accidentally lost by users (due to honest mistakes or technical errors) toward the quarterly burn totals. In specific cases, the project team reimburses these users while still considering the lost tokens "burned" from the total supply.
• Real-time Burn: A portion of the gas fees spent on the network is permanently removed from circulation.

These burn mechanisms are scheduled to continue until the total supply reaches 100,000,000 BNB, representing 50% of the original supply.

Allocation Mechanism

The initial distribution of the 200 million BNB tokens was divided among the founding team, early investors, and the public sale.

Usage and Incentive Mechanism

BNB serves multiple roles across both the decentralized BNB Chain and the centralized Binance exchange:

Network Utility and Governance

• Transaction Fees: BNB is used to pay for gas fees on the BNB Smart Chain.
• Staking and Validation: The network operates on a Proof-of-Staked Authority (PoSA) consensus. Users can self-stake a minimum of 2,000 BNB to become validator candidates. The top 45 candidates (by total stake) become active validators who propose blocks and earn transaction fees.
• Governance: Active validators and delegators participate in on-chain governance. Voting power (govBNB) is proportional to the amount of BNB staked. A minimum of 100 govBNB is required to create a proposal.

Ecosystem Incentives

• Delegation Rewards: Tokenholders can delegate their BNB to validator candidates. If that candidate becomes an active validator, the delegator receives a share of the transaction fees, minus a commission set by the validator.
• Slashing: To ensure network security, validators are penalized for malicious behavior. For example, double-signing a transaction results in a 200 BNB slash, while missing more than 150 blocks in 24 hours results in a 10 BNB slash.

Exchange Utility

• Binance Earn: Users can deposit BNB into "Simple Earn" for fixed terms (15 to 120 days) to earn APR ranging from 0.05% to 0.5%.
• BNB Vault: A feature that aggregates rewards from Simple Earn and Launchpool, offering an APR of approximately 0.18% as of late 2024.
• Launchpad: Users can stake BNB to gain access to new token rewards from emerging projects.

Locking Mechanism and Unlocking Time

The primary locking mechanisms for BNB involve network security and exchange-based yield products:

• Staking Unbonding Period: If a delegator decides to unstake their BNB from a validator, there is a seven-day unbonding period during which the tokens remain locked and do not earn rewards.
• Vesting for Founding Team: The founding team's 80 million BNB followed a strict unlocking schedule: 20% (16 million BNB) was unlocked at genesis, followed by 20% annual unlocks over the subsequent four years. This vesting period concluded in July 2021.
• Binance Simple Earn: Tokens can be locked for specific durations (15, 30, 60, 90, or 120 days). While "Flexible" deposits allow for instant redemption, fixed-term deposits generally require the duration to be completed to receive the full incentive.