BNB
BNB Chain / Binance · Exchange + L1
Score qualifies for T2; held by Distribution 0 (needs 1).
Key facts
- Circulating 131.5M, 66%
- Not yet issued 68.5M, 34%
- Max 200.0M
Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.
Assessment
BNB's engine is cash flow routed by protocol: about 84% of gas fees are credited to delegators through StakeHub and ~10% is burned. Supply is the strongest part: a 200M hard cap, zero block-reward issuance, and Auto-Burn plus BEP-95 cutting supply ~4.8%/yr toward a 100M floor, with every coin circulating. Control is weaker: a 21-seat cabinet holds 86% of stake on one client, and it halted the chain and blacklisted exploit funds at Binance's call on Oct 6, 2022. What holds it back most is concentration: team and angels received 50% of all BNB issued, and Forbes traced ~71% of circulating supply to Binance-linked wallets.
How value reaches holders
~84% of gas fees are credited by protocol to validator delegation pools (StakeHub) after a capped commission, plus the ~10% BEP-95 real-time burn (~5K BNB/qtr). Separately, the formula-based quarterly Auto-Burn (price and block-count inputs, decoupled from Binance profits since Dec 2021) retires ~1.6M BNB a quarter (~$1.2B at ~$745) toward the 100M floor; 36th burn Jul 15, 2026
Score anatomy
Demand
33 / 45: the stronger of two routes, plus adoptionWhy would anyone hold it: does value reach the token, and is the network or product used today?
~10% of fees burned (BEP-95) plus ~84% credited to delegators by protocol through StakeHub
Plumbing at 50%+, or 100% via contract but governance-revocableHow this is scored
$100M-1B/yr
$691M of BNB and BNB LSTs posted at third-party lenders (Venus $520M, Aave $95M, Lista $72M), below $1B; gas for BNB Chain's ~$19B economy counts only 1.
Measurable niche monetary use: payment rails, savings products, or collateral at third-party venues below the next levelmedium confidenceHow this is scored
BNB Chain holds $14.3B of stablecoins (flat YoY), $5.8B TVL and $169M fees TTM (-34%), top four on each; Binance remains the largest exchange
Leader: a top-three network or product in its category by use, holding or gaining sharemedium confidenceHow this is scored
Two routes, the stronger counts
Soundness
24 / 40Can a long-term holder trust the rules: supply, float, distribution and control?
200M hard cap with zero block-reward issuance; Auto-Burn plus BEP-95 cut supply ~4.8%/yr toward a 100M floor, and minting would take a hard fork adopted by validators.
Hard cap or net deflationary by protocol rule, under 1%/yr gross growth, and nobody can mint past the cap or change the schedule short of a hard fork node operators adopthigh confidenceHow this is scored
All 131.5M BNB circulating; the 2017 team allocation vested long ago and only burns move supply.
Fully vested, no scheduled unlockshigh confidenceHow this is scored
2017 ICO sold 50% to the public (~$0.11-0.15); team 40% + angels 10% = 50% of the 200M ever issued. Forbes (Jun 2024) traced ~104M BNB (~71% of circulating) to Binance-linked wallets, ~94M to CZ
Insiders received over 50%, or one organization directs over 30% todaymedium confidenceHow this is scored
21-seat cabinet holds 86% of 24.2M BNB staked at a near-uniform ~1M BNB per seat (~$4B to take the 7 that stall finality), one client; the set halted the chain and blacklisted exploit funds at Binance's call in Oct 2022
Attack cost $10-100M, an unexploited soundness bug in the last 24 months, or upgrades by a security council or governance with under a 7-day exit windowmedium confidenceHow this is scored
Durability
10 / 15Is it big, proven and reachable by institutions?
$98.1B market cap (band 5), $722.8M/day median volume (band 5), no flags.
Systemic: over $10B market cap and $500M/day+How this is scored
9.3 years old with two 80%+ drawdowns (2018, 2019-20), but validators halted BNB Chain on Oct 6, 2022 after the Token Hub exploit minted 2M BNB.
3-5 years, or a rollback, coordinated chain-wide halt or restart, or a $50M+ exploit in the last 5 yearshigh confidenceHow this is scored
US spot BNB ETFs hold $96.8M (SoSoValue, Oct 22, 2026), under $500M; Valour Binance ETP in Europe.
One US spot ETF, or US ETFs under $500Mhigh confidenceHow this is scored
What would move it up
To reach T2 Strong, one gate is still open:
- Distribution 0needs 1(open)
- Score 67gate 55(met)
- Value engine 3.5gate 3(met)
- Adoption 4gate 3(met)
- Supply 5gate 2(met)
- Security 2gate 2(met)
- Float and unlocks 5gate 1(met)
- Scale 5gate 3(met)
Tier outlook · next trigger Oct 6, 2027
Stable
- Distribution rises off 0 only if Binance-linked wallets fall well below 30% of supply (~71% of circulating per Forbes, Jun 2024)
- Track record rises once the Oct 6, 2022 halt leaves the 5-year window on Oct 6, 2027
- Security falls to 1 if the cabinet halts the chain or freezes funds again
- Usage rises to 3 if BNB posted at third-party lenders passes $1B ($691M on Oct 23, 2026)
- Supply stays at 5 while the Auto-Burn formula keeps shrinking supply; the Foundation recalibrated its parameters in 2026
Compare with
How the ranking works and how BNB compares: see the full ranking. This entry as JSON:
GET https://tokens.10102.io/api/v1/tokenomics?symbol=BNB