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The Binance Ecosystem is powered by BNB, which is the native token of the Binance Chain and Binance Smart Chain. It was first released as an Ethereum-based ERC-20 token with a total quantity of 200 million units. The ICO offered 100 million BNBs, however the current total supply is lower due to quarterly BNB burns, which permanently reduce BNB supply.The amount of BNB burnt is based on Binance's quarterly trading volume. Quarterly coin burning will continue until a total of 100,000,000 BNB, or half of the entire BNB supply, has been burned.Later, the ERC-20 BNB tokens were swapped 1:1 with BEP-2 BNB tokens. Binance unveiled the Binance Smart Chain (BSC) in September 2020, a blockchain network that runs in parallel with Binance Chain