Wrapped BNB is a wrapped version of the BNB native tokens on the BEP-20 standard on the Binance Smart Chain.

BEP20 is a standard allowing any tokens on Binance Smart Chain to be used by other applications: from wallets to decentralized exchanges in a consistent way. wBNB follows BEP20 standard except that there is no owner. Besides, this standard interface also extends ERC20 to facilitate cross chain transfer.

Wrapped BNB (WBNB) is a blockchain token pegged to the value of Binance Coin (BNB), the native token of the Binance cryptocurrency exchange. WBNB conforms to the BEP-20 standard on the BNB Smart Chain (BSC), a blockchain network that supports smart contracts and decentralized applications (DApps). Similar to wrapped ETH (WETH) and wrapped Bitcoin (WBTC), WBNB allows users to use BNB to participate in DeFi, such as providing liquidity in liquidity pools, yield farming and trading on decentralized exchanges (DEXs).

The vision of WBNB is to enhance the interoperability and scalability of the BNB Chain. It bridges the gap between the Binance ecosystem and other blockchain ecosystems like Ethereum, Polygon, Solana, Avalanche and more. This increases the utility and demand of both BNB and WBNB and allows WBNB to function as collateral across different ecosystems.

BNB is launched by Binance, which was founded by Changpeng Zhao, also known as CZ. He is the CEO of Binance, the largest cryptocurrency exchange in terms of volume. He was born in China and moved to Canada with his family when he was a teenager. CZ launched Binance in 2017 and is now one of the most recognized names in the crypto space, and a leader who has a passion for blockchain technology and cryptocurrency.

Users can swap their BNB for WBNB using a bridge. They can use their WBNB to interact with various DeFi protocols and DApps on BSC and other chains. Users can also swap their WBNB back to BNB using the same bridge service at any time.

Advantages of WBNB include low fees, fast transactions and high performance metrics of the BNB Chain. In addition, users have access to a wide range of DeFi opportunities and innovations on the BNB Chain. Furthermore, BNB and WBNB are linked in price, meaning investors can remain invested in BNB while participating in DeFi.

Moreover, WBNB can be bridged cross-chain and be used on different blockchains. Users benefit from the diverse ecosystem of dApps and protocols that exist on these networks, such as DEXs, lending platforms and gaming platforms. For example, users can swap WBNB for other ERC-20 tokens on Uniswap or PancakeSwap, or use WBNB as collateral to borrow stablecoins on Aave.

WBNB also enhances liquidity and efficiency by bridging the gap between BNB and other tokens. Users can easily wrap their BNB to WBNB and vice versa without trusted intermediaries. This reduces transaction costs, delays and risks.

Finally, WBNB is backed by an equal amount of BNB that is locked in a smart contract on the original blockchain. The smart contract ensures that there is always a 1:1 ratio between WBNB and BNB, and that users can redeem their WBNB for BNB at any time. The smart contract also prevents double-spending, fraud or manipulation of the supply of WBNB. The process of wrapping and unwrapping BNB is transparent and verifiable by anyone on-chain.

WBNB is a token that represents Binance Coin (BNB) on different blockchain networks. There is no fixed supply of WBNB. The supply of WBNB depends on the demand and usage of BNB on other blockchains. Users can mint new WBNB by depositing their BNB into a smart contract on the original blockchain and burn their WBNB by withdrawing their BNB from the same smart contract.

There is no token allocation or vesting schedule for WBNB. WBNB is not a separate project or entity that has its own team, investors, or advisors. Therefore, there is no need for any token distribution or lock-up period for WBNB holders.

There is no inflation or deflation mechanism for WBNB. The value of WBNB is always equal to the value of BNB, as they can be exchanged for each other at any time at a 1:1 ratio. The price of WBNB is determined by the market forces of supply and demand for BNB and its wrapped version.

Wrapped BNB (WBNB) is based on the BEP-20 token standard on the BNB Smart Chain. It is backed 1:1 by BNB. BNB started as an ERC-20 token on Ethereum but later migrated to its own blockchain called BNB Chain. BNB is secured by a consensus mechanism called Tendermint BFT.

If you would like to know where to buy Wrapped BNB at the current rate, the top cryptocurrency exchanges for trading in Wrapped BNB stock are PancakeSwap (V2), Jupiter, DODO (BSC), Biswap and Swappi.

Want to keep track of WBNB price in real-time? Download the CMC mobile app to get the live price of WBNB, BTC and other cryptocurrencies.