Additionally, BNB can also be used as a means of payment on various platforms and services that accept it as a form of payment. BNB is used for various purposes on the Binance Smart Chain, including paying transaction fees, participating in token sales, and staking for yield farming. BNB serves as the primary asset for the Binance Smart Chain, which is a blockchain platform that allows developers to build decentralized applications (DApps) and run smart contracts. The native token of Binance Smart Chain (BSC) is called Binance Coin (BNB). BNB serves as the primary asset for the Binance Smart Chain, which is a blockchain. What is the native token of BNB Smart Chain? The native token of Binance Smart Chain (BSC) is called Binance Coin (BNB). Decentralized exchange (DEX): BNB Smart Chain has its own decentralized exchange called PancakeSwap, which allows users to trade tokens and earn rewards through liquidity provision.Staking and governance: BNB holders can stake their tokens and participate in the governance of the BNB Smart Chain, including the ability to vote on proposals and decisions related to the future development of the platform.BNB is used for transaction fees, staking, and governance on the BNB Smart Chain. Native token: BNB Smart Chain has its own native token called Binance Coin (BNB).Low transaction fees: Transaction fees on BNB Smart Chain are much lower than those on the Ethereum network, which makes it more cost-effective for users to execute transactions and interact with dApps. ![]() Select the amount of tokens you want to migrate and then confirm the transaction. ![]() Once that’s done, select the network you want to transfer from (Ethereum) and the network you want to transfer to (BSC). You can now select the assets you want to migrate, like ETH or USDT.
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