An exchange token is a digital asset issued by a cryptocurrency exchange to offer utility and rewards within its ecosystem. These tokens often provide holders with benefits such as discounted trading fees, enhanced services, and governance rights.
One prominent example is Binance Coin (BNB), which is used on the Binance platform for a variety of functions.
Exchange tokens help drive engagement and loyalty by incentivizing users to participate actively in the platform’s ecosystem.
Synonyms:
BNB