BNB, originally known as Binance Coin, is the native cryptocurrency of the Binance ecosystem. It was launched in July 2017 through an ICO that raised approximately $15 million. The ICO distributed 100 million BNB tokens to the public, with an initial price of $0.11 per token. An additional 80 million BNB were allocated to the founding team, vested over four years, and 20 million BNB were reserved for angel investors.
BNB was launched through an ICO, with the Binance exchange opening 11 days later. At launch, the exchange supported trading pairs including BNB, BTC, NEO, LTC, and ETH.
BNB Coin Founders
> Changpeng Zhao (CZ): Founder and CEO of Binance, CZ is a developer who previously created high-frequency trading software. He founded Fusion Systems in 2005 in Shanghai, which built high-frequency trading systems for stockbrokers. In 2013, he joined Blockchain.info as the third member of the cryptocurrency wallet's team and later served as CTO at OKCoin.
> Yi He: Co-founder and Chief Marketing Officer of Binance, Yi He was one of the original co-founders of OKCoin. She is widely recognized for her ability to grow technology products and gain user adoption.
BNB Roadmap and Key Developments:
> 2017: Following China's ban on crypto trading, Binance relocated its servers and headquarters to Japan and later to Malta.
> 2018: Binance launched the Binance Charity Foundation to support blockchain-enabled philanthropy, focusing on third-world countries. The company also acquired Trust Wallet, a decentralized cryptocurrency wallet.
> 2019: Binance introduced Binance Jersey to expand its European influence, offering fiat-to-cryptocurrency pairs, including the Euro and the British pound. The company also launched Binance Uganda to serve the African market.
> April 2019: BNB migrated from the Ethereum blockchain to Binance Chain, Binance's own blockchain, becoming its native token.
> September 2020: Binance launched Binance Smart Chain (BSC), a parallel blockchain supporting smart contracts and decentralized applications (dApps), enhancing BNB's utility.
> 2021: BNB reached an all-time high of $690 on May 10, reflecting its significant growth and adoption.
> 2022: Binance rebranded Binance Smart Chain to BNB Chain, with BNB standing for "Build and Build," reflecting its expanded role in the ecosystem.