Exchange token

An exchange token is a digital currency issued by a cryptocurrency exchange, like a company that helps you buy and sell cryptocurrencies. These tokens often provide benefits such as reduced trading fees, access to special features, or voting rights within the platform. They can be bought, sold, or traded on various markets. Essentially, it's a way for the exchange to reward users, increase engagement, and sometimes raise funds for development. Examples include Binance Coin (BNB) and KuCoin Token (KCS).