YZi Labs Heavyweight Report: The Positioning, Economic Model, and Core Competitiveness of BNB

Author: Haley H. (, Investment Director at YZi Labs ), Ella Z. (, Head of YZi Labs )

Compiled by: Jiahuan, ChainCatcher

Executive Summary

BNB ( (Build N Build) ) is the native token of BNB Chain, a public blockchain that is becoming a key infrastructure for the future global Web3 world. Compared to ETH ( as Decentralized Finance infrastructure ) or BTC ( as a store of value ), BNB is positioned to be the efficient trading engine for the global Web3 economy.

It is a top-tier token with a deflationary mechanism and design. With a fully circulating supply and decentralized on-chain ownership ( (about 67% held by the public; about 27% pending burn; CZ holds < 1 %，数据来源见正文 ) ，BNB 有望大幅减少解锁以及中心化风险，从而增强机构信任。

根据 Dune 和 Nansen 的数据，BNB Chain 生态系统在 DEX 交易量、活跃用户数和活跃稳定币钱包地址数方面均排名第一，涵盖了 DeFi、AI、Meme、RWA 和消费者应用等多个领域。BNB 让用户能通过单一​​代币，广泛接触到跨越各个领域的链上生态系统。

至关重要的是，BNB 被认为是唯一可能为用户提供全方位 Web 3 资产发行和分发敞口的代币 ( 历史原生持币收益率约为 15 - 20 % ) 。它基本上涵盖了所有层级的关键 Web 3 资产和领域：从交易所上市的蓝筹股，到中等市值的叙事性资产，再到 BNB Chain 上新兴的长尾代币。BNB 让用户能够直接参与整个加密技术栈的增长和价值，无缝连接 CeFi 和 DeFi。

在支持数字资产信托 ( DAT ) 的 Layer- 1 代币中，BNB 展现了非常强劲且经周期验证的表现，其年化价格涨幅一度高达约 113 %，超过了 ETH、BTC 和 SOL ( 数据来源见正文 ) 。对于机构投资组合而言，BNB 有望提供结构性脱钩和非对称的上行潜力。它能增强多元化，并提升多资产策略中的风险调整后价值收益。

迄今为止，BNB 在美国的有限投资市场正在开始改变：BNB 的数字资产信托/ETF 渠道以及在包括 Robinhood/Coinbase 在内的主流交易所的上市渠道已经启动。多样化的 BNB 计价金融产品，如 BNB 数字资产信托、ETF 和股息基金，将进一步帮助 BNB 释放传统金融 ( TradFi ) 的流动性并扩展其金融功能。此外，近期 CZ 获得的赦免向市场发出了一个强烈而积极的信号，为 BNB 在北美乃至全球扩大受欢迎程度和采用率提供了一个特殊的机遇窗口。

目录

1 . BNB 概述 2 . BNB 代币经济模型 3 . 增长故事 4 . 历史上最强的结构性表现之一 5 . 战略亮点 6 . 结论：BNB 的定位是成为全球 Web 3 经济的高效交易引擎

1 . BNB 概述

# ** 1 . 1 BNB 简介**

BNB 是 BNB Chain 的原生代币，是该链的核心实用型和治理型代币。BNB 最初于 2017 年推出，现已发展成为一种高实用性、通缩型的代币，广泛应用于各种 Web 3 应用——从在 BNB Smart Chain 上支付 Gas 费，到验证者质押，再到参与链上治理。

除了 BNB Chain 本身，BNB 也被其他平台采用，作为实用型代币进行整合。例如，在币安交易所上，持有 BNB 的用户可以享受交易费折扣，并能参与如 Launchpool 和 Megadrop 等代币发行项目。这些链下用例与链上用途相结合，反映了 BNB 作为一个跨越去中心化和中心化生态系统的多场景 Web 3 代币，其作用日益增强。

BNB 的代币设计包含一个双重销毁机制，包括一个程序化的自动销毁 ( 基于链上活动和价格 ) 和一个实时的 BEP- 95 销毁 ( 销毁一部分 Gas 费 ) 。这些机制旨在持续、系统驱动地减少 BNB 的供应量，帮助使供应量与网络使用情况保持一致。BNB Chain 上的每一笔交易都通过根据实际经济活动按比例调整供应量，为网络的可持续性做出贡献，旨在维持使用量、容量和代币需求之间的平衡。

这种设计旨在确保随着 BNB Chain 使用量的增长，代币供应量会相应调整 ( 直至达到 1 亿 BNB 的固定上限 ) 。现有约 1 . 39 亿 BNB 代币已全部在市场上流通，迄今为止，随着供应量向其上限收缩，已有超过 6200 万 BNB 通过销毁被移除。这种透明、可预测的通缩模型增强了人们对 BNB 在生态系统中长期作用的信心。

# ** 1 . 2 BNB 的实用性**

BNB 作为 Layer- 1 原生代币

BNB 是 BNB Chain 固有的数字资产，在多个层面上为 BNB Chain 提供动力。它被用作交易的 Gas 费，并作为验证者质押以保障网络安全的抵押品。持有者可以将 BNB 委托给验证者，作为帮助保护链安全的回报，获得协议奖励。BNB 还支持链上治理，允许质押者对协议升级和重要的生态系统提案进行投票。

它原生运行于 BNB Chain，这是一个高性能、与 EVM 兼容的区块链，目前正扩展为一个完整的三链架构：

• BNB Smart Chain ( L 1) – 主要的执行层
• opBNB ( L 2) – 为超快速交易的 dApp 优化
• BNB Greenfield – 为新型 Web 3 原生应用提供动力的去中心化存储

![] ( https://img-cdn.gateio.im/social/moments-b 28255 addd 4 ed 06921 c 8 d 4 bcbf 37592 b )

图片 1 ：BNB 丰富的生态系统及其行业领导的卓越表现

BNB 深度整合到 BNB Chain 的 DeFi 生态系统中，在 Aster ( 永续合约 DEX ) 、Venus ( 借贷 ) 、PancakeSwap ( DEX ) 和 Lista DAO ( 流动性质押/BNBFi ) 等协议中被积极用作抵押品、流动性和治理权益。根据 DeFiLlama 的数据，截至 2025 年 10 月 29 日，BNB Chain 的 DeFi 生态系统支持的总锁仓价值 ( TVL ) 约为 162 亿美元。根据 bnbchain.org 的数据，约有 2600 万 BNB 代币在链上质押，约占总供应量的 19 %。这些用例凸显了 BNB 的双重性质：它既是网络的燃料基础设施，也是 dApp 和不断增长的模块化 Web 3 技术栈中的宝贵资产。

总体而言，BNB Chain 上的 DEX 正在引领去中心化交易领域——尤其是 PancakeSwap——进一步突显了 BNB 在链上流动性及其生态系统发展中的主导地位。

![] ( https://img-cdn.gateio.im/social/moments- 69 c 43 ec 5 b 62712 ab 373557 dbf 5 b 089 ff )

图片 2 ：根据 Blockworks Research 数据，BNB Chain 的 DEX 现货市场份额在所有 DEX 中最大

![] ( https://img-cdn.gateio.im/social/moments- 5 ae 05 ab 565 bd 75 cde 1 fc 88 dec 21 f 79 c 2)

图片 3 ：Aster 链上永续合约显著领先 Hyperliquid，推动 BNB Chain 实现突破

BNB 作为实用型代币：具有忠诚度计划的平台代币

BNB 的实用性延伸至在更广泛的生态系统中充当一种忠诚度代币。仅仅持有 BNB 就可以获得特殊计划和福利的参与资格。例如，BNB 持有者有资格通过 Launchpool 参与新代币发行，通过 Megadrop 和 HODLer 等计划获得空投，并享受 Binance Alpha 等其他社区奖励。这些社区成员权益鼓励参与者长期持有代币并在平台上进行互动。

持有者将获得新代币发行的独家参与权、各种代币赠品、可观的交易折扣以及其他福利，这使得 BNB 与典型的单一甚至双重用途代币区别开来。

![] ( https://img-cdn.gateio.im/social/moments- 88 fd 88 a 4 ee 9654994 db 90 cf 556 a 588 bd )

图片 4 ：BNB 实用性概览

# ** 1 . 3 行业格局**

Layer- 1 格局

BNB 的广泛整合——从 PancakeSwap 等 DEX 到 RWA 代币化项目——展示了其作为基础设施的根深蒂固的作用，为链上金融和链下企业合作提供动力。这种生态系统的广度使 BNB 成为市场上最具运营相关性的代币之一——对于任何旨在参与整个 Web 3 经济的数字资产信托 ( DAT ) 来说都至关重要。

BNB Chain 被认为是 2025 年最强大的 Layer- 1 区块链之一，在用户参与度和网络活动等方面处于领先地位。其增长反映了散户采用、开发者势头和生态系统深度的强大结合。与以太坊、Solana、Base、AVAX、SUI 和 Aptos 等同行相比，我们认为 BNB Chain 在可扩展性和用户粘性方面表现出相对优势，展示了其在更广泛的 Web 3 生态系统中的战略价值。

BNB Chain 关键亮点 (2025 年 10 月 ) :

• 日活跃地址数排名第一 (10 月 13 日达到峰值 340 万 )
• 日 DEX 交易量排名第一 ( 约 190 亿美元/天，约占 61 . 25 % 的市场份额 )
• 所有 L 1 中活跃地址增长最快 (2025 年增长约 300 % )
• 活跃独立稳定币钱包地址数最多 ( 约 2000 万 )

( 数据来源：BscScan, Dune, DefiLlama, Blockworks Research, Visa, Nansen )

![] ( https://img-cdn.gateio.im/social/moments- 38 dcaaf 3302 e 03 d 6259 b 283 ac 301130 d )

图片 5 ：BNB Chain DEX 交易量创下新高，现领先其他链，周交易量峰值超过 1560 亿美元

CEX 格局

加密货币交易所的入口流量代表了 Web 3 生态系统的战略制高点，是新用户进入数字资产生态系统的主要门户。据报道，币安的 CEX 占据了约 55 % 的入口流量，成为大多数全球加密货币参与者的第一个接触点。处于这一流量中心的是 BNB，它历来将用户参与度转化为资产引擎——通过提供交易费折扣、早期 Launchpad 参与资格和生态系统奖励，将原始的入口流量转化为持续的流动性、网络效应和平台价值捕获。

这种设计具有战略意义。在交易所层面，入口流量是 Web 3 生态系统的需求流入。将网络使用与具有明确实用性和治理功能的原生代币联系起来，使得网络吞吐量和代币实用性能够共同扩展，将采用激励与市场参与结合起来。

![] ( https://img-cdn.gateio.im/social/moments- 189 f 92 d 25 f 948 e 135 f 567 fb 43 acae 419)

图片 6 ：Binance 占据约 50 % 的 CEX 现货市场份额，有望成为 Web 3 的主要门户

2 . BNB 代币经济模型

BNB 是程序化自平衡的。它在一个程序化设定的 1 亿代币上限下运行，由两个互补的机制——自动销毁 ( Auto-Burn ) 和 BEP- 95 ——进行管理，这两个机制会根据活动和价值流动，按季度和实时减少流通供应量。

![] ( https://img-cdn.gateio.im/social/moments- 4448 fb 50 b 805340 c 5 ef 115 a 4 ea 17 eecb )

这两个机制共同永久销毁了超过 6400 万 BNB，占历史供应量的 31 . 8 % 以上。根据 2025 年 10 月 26 日约 1115 美元的 BNB 价格计算，这意味着价值约 720 亿美元的 BNB 已被销毁。该模型在设计上是机械性通缩的，作为一个供应调整系统，将代币发行与链上活动直接挂钩。随着使用量增加，协议会自动减少可用供应量——这是一个稳定价值并抑制代币过度流速的反馈循环。

这种结构将活动转化为平衡：使用得越多，其货币基础的自我修正就越多。当使用量和价格上涨时，更多的 BNB 被销毁，供应量收缩；当活动下降时，销毁率降低，供应量趋于稳定。这一设计原则使 BNB 的供应模型成为一个旨在实现长期平衡的稳定机制。

![] ( https://img-cdn.gateio.im/social/moments- 997 aa 1 c 7 ac 7 eef 0 f 2 c 3 e 167 a 88 e 4 fa 3 a )

图片 7 ：BNB 的价值平衡机制迄今已移除 30 % 以上的总供应量——累计销毁约 735 . 6 亿美元价值的 BNB

BNB 的所有权结构已演变为广泛的生态系统持有和使用。BNB 的持有量广泛分散在整个网络中：

**公众 ( 非关联方 ) **

• 约 66 – 67 % — 非关联的公众持有者 ( 在交易所 + 自我托管 )

**关联方 ( 基金会 / 交易所 / 关键人物 ) **

• 约 27 % — BNB 基金会销毁储备 ( 用于程序化销毁；不出售 )
• 约 4 – 5 % — Binance.com 财库 ( 用于运营流动性和托管 )
• < 1 % — CZ 个人持股![] ( https://img-cdn.gateio.im/social/moments-d 344 b 9548 ca 74 f 82 ccdfb 1478 f 205 a 1 d )

图片 8 ：BNB 分布 - 去中心化且透明（约 67 % 公众；约 27 % 销毁；CZ < 1 %）

大约三分之二的供应量由非关联的公众持有者持有 ( 在交易所和自我托管中 ) ，而 CZ 的个人持股不到 1 %。Binance.com 的财库持有流通中 BNB 总量的大约 4 - 5 %。约 27 % 的流通 BNB 由 BNB 基金会持有，并被圈定用于程序化销毁 ( 不出售 ) ——这是一个透明的链上机制，随着时间的推移加强了 BNB 的通缩设计。此外，被标记的最大钱包是销毁/运营/托管钱包，而非控制性头寸，这表明内部人集中度低，分布更透明、去中心化和公平。

3 . 增长故事

# ** 3 . 1 BNB Chain 路线图与产品化**

BNB Chain 正迈向“一个真正的全球去中心化金融体系”，这是一个预期中的高吞吐量、多链平台，专为机构级交易、全方位数字资产发行和真实世界资产整合而设计。当前路线图的目标包括：

• 20,000), it supports:

• 20,000 transactions per second ( TPS )
• <150ms block finality
• Native zero-knowledge privacy modules to support secure settlement and compliant confidentiality, such as transactions powered by zero-knowledge proofs

A promising example: In mid-2025, Binance launched Binance Alpha, a liquidity incentive and builder program, sparking a sharp increase in on-chain DEX activity. BNB Chain’s DEX trading volume briefly exceeded 70% of total on-chain spot volume, demonstrating deep potential user and developer engagement in the ecosystem.

![] ( https://img-cdn.gateio.im/social/moments-c 52c60b622bb8fa3df67c366d267818b )

Image 9: Binance Alpha triggers a surge in BNB Chain DEX trading volume

Looking ahead, we have updated the next-generation BNB Chain ( goals for 2026 and beyond ) to achieve our next milestone: delivering a CEX-like experience for millions of users in the development of a “global decentralized financial system.” Key upcoming features include:

• Near-instant confirmation: Targeting <150ms confirmation for trades, swaps, and interactions
• NASDAQ-level throughput: Targeting >20,000 TPS for complex on-chain operations
• Upgradeable virtual machine: Supporting massive parallel execution beyond current EVM limitations
• Native privacy: Effectively facilitating transfers and contract calls with compliance-friendly confidentiality
• Web2 simplicity with Web3 control: Offering multi-signature, key rotation, and seamless authentication

These features will form a modular trading technology stack built for the issuance, discovery, and settlement of digital assets. We believe BNB Chain is poised to become the infrastructure of choice for on-chain financial markets, with BNB as its key component.

# 3.2 Stablecoins, Payments, and Real-World Adoption

BNB enables users to interact with a wide range of Web3 assets on BNB Chain. It is evolving into a fully integrated trading and collateral asset, supporting interaction with Decentralized Finance, payments, and tokenization applications on BNB Chain. BNB Chain consistently ranks among the global leaders in stablecoin trading volume and active users.

Recent integrations have deepened BNB Chain’s presence in areas such as:

• Tokenized government bonds and interest-bearing assets ( (e.g., partnerships with Ondo Finance and Franklin Templeton ))
• Establishing a stablecoin liquidity hub via Circle ( USDC ) deployment and cross-chain bridging
• RWA pilot projects linked to exchanges, including Kraken xStocks and tokenized fund infrastructure

These initiatives position BNB as a fully integrated utility token spanning Decentralized Finance, payments, and even tokenized real-world applications. The broad use cases show BNB’s role is expanding from a niche cryptocurrency to mainstream financial and utility scenarios.

BNB Chain hosts thousands of projects across Decentralized Finance, gaming, social tokens, and NFTs. As these metrics grow, BNB’s importance rises in tandem—it is the unit of value flowing through the entire economy. Users looking to participate in new project launches or use the latest Decentralized Finance applications on BNB Chain typically need BNB.

BNB sits at the center of CeFi and Decentralized Finance development. This unique positioning brings sustained demand and a broad user base. As Web3 adoption continues globally, BNB’s multifaceted utility and deflationary design may support its long-term value in a way tied to ecosystem growth rather than speculative cycles.

![] ( https://img-cdn.gateio.im/social/moments- 18ea706fe296fc9e978689785ef62bd6 )

Image 10: BNB Chain (BSC) leads and grows fastest in active stablecoin wallet count over the past 5 years

# 3.3 Unlocking the US Market: Structural Catalysts Driven by CZ’s Pardon, BNB Digital Asset Trust/ETF Channels, and Listings on Mainstream Exchanges like Robinhood/Coinbase

BNB’s limited exposure in the US market is beginning to change. The launch of BNB Digital Asset Trust ( (DAT) ), BNB ETF, and listings on mainstream exchanges including Robinhood and Coinbase are providing indirect channels for US participants to access BNB with fiat. Regulatory clarity in major jurisdictions is expected to improve and accelerate institutional adoption.

The “full and unconditional” pardon granted to CZ offers a possible path to alleviate prior “fit and proper person” restrictions from US government cases. This presents an unprecedented opportunity for the US and its participants to embrace and benefit from BNB Chain and its new growth; at the same time, it’s a chance for BNB Chain and BNB to accelerate developer onboarding and recommit to enterprise-grade integration in the US, covering payments, custody, and Web3 infrastructure—all serving this historically underweighted region and creating the next growth engine for BNB Chain.

# 3.4 Diversified BNB Products: Channels for Broader Investor Participation in the BNB Growth Story

A modular BNB-linked product stack includes regional BNB Digital Asset Trusts ( (DATs) ), BNB ETF ( (where permitted) ), and BNB yield funds. These are converting on-chain liquidity into regulated distribution channels. Each form of BNB-linked product has its unique mission:

• BNB Digital Asset Trusts ( (DATs) ) – including BNB Network Company ( NASDAQ:BNC ) and potentially more BNB DATs on the roadmap – designed for investors seeking amplified potential returns;
• BNB ETF – currently undergoing regulatory approval – for broad broker/Registered Investment Advisor ( (RIA) ) channels, offering intraday secondary market liquidity mirroring BNB token price performance;
• BNB yield funds – e.g., Hash Global BNB Yield Fund – designed for institutions unable to hold tokens directly but able to invest in yield-generating, BNB-related funds.

With effective KYC/AML, independent management/audit, and standardized disclosures, these products are expected to reduce operational friction and expand the accessible institutional and overseas user base. From BNB Digital Asset Trusts to BNB ETF to BNB yield funds, these diversified BNB financial products offer a spectrum of choices for different investor types across liquidity and yield.

4. One of the Strongest Structural Performances in History

# 4.1 BNB: Cycle-Proven Outperformance

Across multiple market cycles, BNB has consistently outperformed peer Layer-1 blockchains and benchmark digital assets. Its long-term value growth reflects a combination of functional utility, programmatic supply discipline, and ecosystem scale integration.

Unlike peer assets whose performance is often tightly correlated with broader market Beta, BNB exhibits structural decoupling. Even in bear markets ( (2018, 2022) ), BNB maintained relative strength and quickly reclaimed new highs—demonstrating resilience, float compression effects, and demand stickiness, all of which treasury-focused allocators should value.

We believe BNB’s price consistency—rising ahead of narrative rotations and absorbing volatility more efficiently—makes it an ideal base layer for long-term structured products, especially those earning fees or potential yield.

![] ( https://img-cdn.gateio.im/social/moments- 55544845c5a7f251c8677e9790c9a142 )

![] ( https://img-cdn.gateio.im/social/moments- 2a464b3babc79904aa2a8eefe0a107c9 )

Image 11: BNB outperforms other assets across multiple market cycles

# 4.2 BNB as a Strategic Asset

BNB is tailored not only for crypto-native users but is also designed for easy understanding and use by newcomers with no crypto experience. Introducing BNB can significantly improve risk-adjusted returns; for example, in simulated models, adding 2%–5% BNB to a standard stock-bond-commodity portfolio raises the Sharpe ratio from 0.95 to as high as 1.25. This demonstrates BNB’s effectiveness as an alternative asset allocation—enhancing diversification and capturing Web3 participation and potential yield. Current market conditions may offer asset managers a structural opportunity to integrate BNB as an alternative asset.

![] ( https://img-cdn.gateio.im/social/moments-a 8036c695d66c62c3e6c8b963f6b6c21 )

Image 12: Traditional portfolio vs. BNB-integrated portfolio comparison

BNB shows a rare ability to decouple from broader crypto market trends, maintaining strength even during BTC pullbacks and market-wide corrections. This structural independence is driven by BNB’s dual engines: on-chain economic utility and centralized platform integration. Unlike assets that purely fluctuate with macro liquidity cycles, BNB’s price tends to reflect real usage, ecosystem growth, and value creation—we believe this makes it a fundamentally differentiated asset with lower correlation to speculative crypto Beta.

# 4.3 BNB as the Balanced Crypto Asset in the Asset Trilemma

In crypto, everything begins and ends with the nature of the asset. Compared to traditional assets, crypto assets are programmable, composable, and infrastructure-integrated, making their evaluation multidimensional and uniquely tied to three core asset dimensions: Economic Throughput (, Security ), and Liquidity (—together forming what we call the Asset Trilemma ), a native extension of the macroeconomic “policy trilemma” in crypto.

![] ( https://img-cdn.gateio.im/social/moments- 307a98fca7277581ad1a67d2c6b1aefd )

BNB operates within the crypto asset trilemma—we view these three forces as shaping how a network grows and sustains itself.

• Economic Throughput: How efficiently the network channels real user activity via trades, settlement, and application deployment;
• Security: How robustly it protects these activities via consensus, validation, and transparency;
• Liquidity: How smoothly participants can enter, exit, and trade with minimal friction.

In our experience, most systems sacrifice one dimension for another—networks with higher security often trade off economic throughput. BNB’s architecture, via Proof of Staked Authority ( (PoSA) ) consensus and deep multi-venue access, aims to maintain a near-balanced approach across all three dimensions.

BNB’s embedded utility enables it to shift from a passive holding asset to an active participation gateway. Historically, BNB’s platform participation programs have provided meaningful incentives, significantly outperforming many mainstream crypto assets in user engagement and retention.

BNB inherently carries certain privileges and opportunities:

• Participation in exclusive programs: BNB holders can join ecosystem initiatives, applications, and governance. Launchpool events, airdrops, and governance votes are examples of benefits tied to BNB ownership.
• Integrated user rewards: Many initiatives on BNB Chain are designed to reward BNB holders and users. These incentives mean that long-term BNB holding offers tangible benefits, even without price appreciation.
• Single-token diversified participation: Holding BNB provides broad participation. Users can simply hold BNB and use it across lending, trading, gaming, and more.

This dynamic strengthens the ecosystem: as more people hold BNB for these advantages, it drives greater decentralization and activity on BNB Chain.

![] ( https://img-cdn.gateio.im/social/moments- 5a9c3fa12cdf3e9b627e756808112f23 )

Image 13: Crypto asset trilemma comparison

( 5. Strategic Highlights

) # 5.1 BNB Ecosystem as a Full-Stack, Efficient Web3 Asset Issuance and Trading Platform

BNB’s integration across centralized and decentralized platforms makes it a core participatory token for the Web3 era. Combining infrastructure, access, and incentives, we believe it is a compelling utility token for long-term engagement.

BNB’s strategic highlights:

• Ecosystem incentives: BNB enables users to participate in various ecosystem programs, which have historically provided additional incentives and rewards for holders.
• Core participatory token: As the core participatory token of the Web3 era, BNB connects users to a wide range of blockchain applications and communities.
• Sustainable value model: BNB’s utility combined with deflation can create a sustainable value model. Increased usage drives more burns and demand for participation programs, increasing utility value.
• Supportive ecosystem: The BNB ecosystem includes supportive venture capital participants like YZi Labs, strategically positioned to introduce investment projects from initial proof-of-concept, through funding and initial distribution, and provide ongoing support.

![] ( https://img-cdn.gateio.im/social/moments-acb 0e5b1a5cd3a27b1391c41412f055e )

Images 14 & 15: BNB uniquely offers end-to-end exposure to the full lifecycle of Web3 asset issuance, discovery, and participation within the BNB ecosystem

The BNB ecosystem, through its supportive venture partners (such as YZi Labs), provides a robust, efficient, and comprehensive platform for asset issuance. These venture partners are strategically positioned to introduce investment projects from the initial proof-of-concept stage, guide them through funding and initial distribution, and subsequently facilitate global trading and decentralized ecosystem growth via BNB Chain. By ensuring the establishment of top-performing trading pairs ### via CEX ###, BNB is becoming a powerful and perhaps the most effective full-cycle asset issuance hub in the Web3 space.

In short, the BNB ecosystem integrates:

• YZi Labs and other venture participants: incubation starts here
• BNB Chain: core deployment layer, growth, and on-chain utility
• Exchanges: liquidity, Launchpool, and trading

Building a complete system that offers full-stack Web3 exposure—asset issuance, discovery, and participation—all powered by the BNB ecosystem.

( # 5.2 BNB’s Yield and Access: Outstanding Native Yield Generation, Potentially Delivering 15–20% Annualized Value Creation

Mechanisms like Launchpool continuously drive large-scale BNB locking and create attractive yields for users, historically averaging 15–25% annualized value gains during peak cycles. This dynamic not only programmatically reduces token float but also enhances user retention and ecosystem engagement, making BNB a powerful engine for both potential value and long-term platform synergy.

![] ) https://img-cdn.gateio.im/social/moments- 0c6ab071a3b668274e6c41e6dcf2d8f6 (

Images 16 & 17: With 15–20% annual value uplift and deep ecosystem integration, BNB transforms traditional asset holding into more efficient participation

This multifaceted integration makes BNB a unique and compelling asset for long-term Web3 exposure. Our research shows that among major Layer-1 assets, BNB has consistently led in economic value. Historically, BNB has delivered competitive 15–20% annualized value gains, a significant advantage over other assets ) (e.g., third-party data shows SOL ~6.5%/ETH ~4.5%, both more reliant on external staking protocols ###), highlighting BNB’s strong asset issuance and value yield capabilities.

Unlike Bitcoin ( (which we view as digital gold )) and Ether ( (which we see as foundational infrastructure )), we believe BNB is best described as a “technology platform” for the Web3 era. It combines unparalleled ecosystem access via Binance CEX’s massive traffic, robust infrastructure via BNB Chain, and a comprehensive operational token system offering utility features like Launchpool and Alpha.

( 6. Conclusion: BNB Is Positioned to Be the Efficient Trading Engine of the Global Web3 Economy

BNB combines access, utility, and programmatic price stability mechanisms. It offers holders broad entry into the Web3 ecosystem and practical utility across numerous applications, while its built-in burn mechanism is designed to align long-term supply with network activity.

BNB is more than a platform token—it is a Web3 infrastructure token that:

• Combines on-chain growth, built-in incentives, top-tier ecosystem access, and long-term supply compression.
• Provides users exposure to the full spectrum of Web3 asset issuance and distribution.
• Covers all tiers of key Web3 assets and sectors: from blue-chip stocks listed on exchanges, to mid-cap narrative assets, to emerging long-tail tokens on BNB Chain.

While ETH anchors Decentralized Finance infrastructure and BTC serves as a store of value, BNB is positioned to be the efficient trading engine driving the global Web3 economy and a configuration tool for investors entering the Web3 world.

) About YZi Labs

YZi Labs manages over $10 billion in assets globally. Our investment philosophy emphasizes impact first—we believe meaningful outcomes naturally follow. We invest across all stages, prioritizing projects with strong fundamentals in Web3, artificial intelligence, and biotechnology.

YZi Labs’ portfolio covers over 300 projects from more than 25 countries across six continents. Over 65 portfolio companies have gone through our incubation program. For more information, follow YZi Labs on X.

Disclaimer

This article is for informational purposes only and does not constitute investment, legal, or tax advice. It is not an endorsement, analysis, or recommendation of any digital asset, financial instrument, asset, service, entity, issuer, or any person, entity, or matter. It is not an offer to sell or a solicitation to buy any digital asset, security, or other asset. The information herein is believed to be accurate as of the date of publication but is subject to change without notice. Recipients should conduct their own due diligence and consult professional advisors before making any purchase or investment decisions. Past performance does not guarantee future results. Use of this information is at your own risk.

Forward-Looking Statements

This article contains forward-looking statements, including predictions, estimates, and expectations regarding the future performance, adoption, and market conditions of BNB and related technologies. These statements are based on current assumptions and beliefs but involve risks and uncertainties that may cause actual results to differ materially. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” and similar expressions identify forward-looking statements. Any mention of “growth,” “network effects,” or “ecosystem expansion” reflects the potential scalability and adoption of decentralized technology, not financial returns or profit-sharing mechanisms. These statements are not guarantees of future performance. We do not undertake any obligation to update these statements after the date of this presentation.

Key Risk Factors

The risks and uncertainties described herein are not intended to be an exhaustive list of all possible relevant risks. Additional risks, including those currently unknown or deemed immaterial, may also have a significant adverse impact.

Loss Risk: Investing in or purchasing digital assets and projects related to distributed ledger technology (including Decentralized Finance projects) involves significant risks, including the risk of total loss. This document does not consider the investment objectives, financial situation, or specific needs of any particular person, and we urge each individual to consult their legal and financial advisors before making any purchase or investment decisions.

Regulatory Uncertainty: Digital assets and related projects are subject to rapidly evolving and uncertain regulatory frameworks worldwide. Future regulatory developments may impose restrictions or obligations, significantly impacting operations, liquidity, and value. Relevant regulatory authorities may determine that a digital asset constitutes a security, derivative, or other regulated product, triggering licensing, registration, and compliance obligations.

Legal Risk: Failure to comply with applicable laws may result in investigations, fines, cease-and-desist orders, or other enforcement actions that could adversely affect operations. Additionally, individuals may bring civil lawsuits against companies due to any of these risk factors or other adverse events.

Cybersecurity and Technology Risk: Digital assets may be permanently lost due to cyberattacks, private key leaks, phishing, malware, or custody failures. Coding or design flaws in protocols or smart contracts may be exploited, leading to unintended behavior, fund loss, or governance failures. Digital assets may be subject to 51% attacks, Sybil attacks, or other consensus-level threats.

Operational and Business Risk: High trading volume or network outages may cause settlement delays, increased gas/transaction fees, or impaired functionality. Failures by cloud providers, node operators, custodians, or integrated Decentralized Finance protocols may adversely affect operations. Network upgrades may not succeed, may introduce bugs, or may cause ecosystem splits (e.g., hard forks).

Market Volatility and Liquidity Risk: Digital asset prices experience severe and unpredictable volatility, potentially resulting in significant losses. There may not be enough buyers or market makers to provide an active trading market, limiting exit opportunities. Exchanges and custodians may experience bankruptcy, fraud, data breaches, or operational failures, affecting access to or ownership of assets. Valuations may rely on unregulated markets, leading to price manipulation, unreliable price discovery, or sudden loss of value.

Governance and Tokenomics Risk: Token-based voting may be susceptible to manipulation or centralization, allowing a small group to exert excessive control. Token issuance plans may dilute value or change due to network governance or unforeseen circumstances. Administrative privileges may be abused, exploited, or lost, affecting token functionality or fund security.