OKX announces the addition of BNB (BNB/USDT and BNB/USDC) to its spot trading markets. Below is the detailed schedule and key information about the asset.
Trading Schedule for BNB on OKX
- BNB Deposits Open: 1:00 pm UTC on December 20
- BNB/USDT & BNB/USDC Spot Trading Begins: 3:00 am UTC on December 21
- BNB Withdrawals Open: 3:00 am UTC on December 22
What Is BNB?
BNB is the native cryptocurrency of the Binance ecosystem and powers the Binance Chain. Launched in 2017 as an ERC-20 token, BNB has evolved into a multi-functional asset with diverse use cases:
- Fee Reduction: Discounts on trading fees across Binance platforms.
- Binance Chain Utility: Used for transaction fees, token issuance, and decentralized exchange (DEX) operations.
- Payments & Launchpad: Accepted by third-party services and used in Binance Launchpad token sales.
BNB’s burn mechanism periodically reduces its total supply (initially 200M), targeting a cap of 100M tokens.
BNB Key Metrics
| Detail | Value |
|---|---|
| Asset Name | BNB |
| Ticker | BNB |
| Total Supply | 200,000,000 |
| Circulating Supply | 163,276,974 (Dec 2022) |
Risk Disclaimer
Trading digital assets carries substantial risk, including potential loss of capital. Ensure you understand the risks and consider your financial situation before investing. Seek professional advice if needed.
FAQs
1. When Can I Start Trading BNB on OKX?
Spot trading begins at 3:00 am UTC on December 21.
2. What Are BNB’s Primary Use Cases?
BNB enables fee discounts, DEX transactions, and participation in Binance Launchpad projects.
3. How Does the BNB Burn Work?
Binance burns BNB every quarter, reducing total supply until it reaches 100M tokens.
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