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.
Frequently Asked Questions
What Is Wrapped BNB (WBNB)?Read More
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.
Who Are the Founders of Wrapped BNB?Read More
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.
What Makes Wrapped BNB Unique?Read More
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.
How Many Wrapped BNB (WBNB) Coins Are There in Circulation?Read More
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.
How Is Wrapped BNB Secured?Read More
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.
Where Can You Buy Wrapped BNB (WBNB)?Read More
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.
What is the all-time high price of Wrapped BNB (WBNB)?Read More
The all-time high of WBNB was 730.41 USD on 2021-05-12, from which the coin is now down 42.48572719431552%. The all-time high price of Wrapped BNB (WBNB) is 730.41. The current price of WBNB is down 42.48572719431552% from its all-time high.
How much Wrapped BNB (WBNB) is there in circulation?Read More
, there is currently 2.12M WBNB in circulation. WBNB has a maximum supply of 0.
What is the market cap of Wrapped BNB (WBNB)?Read More
The current market cap of WBNB is 890.39M. It is calculated by multiplying the current supply of WBNB by its real-time market price of 420.09.
What is the all-time low price of Wrapped BNB (WBNB)?Read More
The all-time low of WBNB was 25.09
, from which the coin is now up 1574.3324033479475%. The all-time low price of Wrapped BNB (WBNB) is 25.09. The current price of WBNB is up 1574.3324033479475% from its all-time low.
Is Wrapped BNB (WBNB) a good investment?Read More
Wrapped BNB (WBNB) has a market capitalization of $890.39M and is ranked #113 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Wrapped BNB (WBNB) price trends and patterns to find the best time to purchase WBNB.