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logoWrapped BNBWBNB Price#78
$648.41
Created with Pixso.0.22%
DescriptionWrapped BNB WBNB is a crucial digital asset within the Binance ecosystem, specifically designed to enhance the utility and interoperability of the native BNB coin on the BNB Smart Chain BSC. As a wrapped token, WBNB functions as a BEP-20 standard representation of BNB, allowing the core utility token of the Binance network to seamlessly interact with smart contracts and decentralized applications dApps that adhere to the BEP-20 token standard. This bridging mechanism is fundamental for BNB to participate fully in the vast and rapidly expanding landscape of decentralized finance DeFi on BSC. The primary purpose of WBNB is to enable BNB to be used in environments where native BNB is not directly compatible with smart contracts, such as decentralized exchanges DEXs, lending platforms, and yield farming protocols. While BNB itself is used as gas for transactions on the BNB Smart Chain, for it to be deposited into a liquidity pool or used as collateral in a lending protocol, it must conform to the BEP-20 standard. WBNB serves this role, effectively making BNB a fungible and programmable asset within the smart contract ecosystem. Each WBNB token is typically backed 1:1 by an equal amount of BNB held in reserve, ensuring its value remains pegged to the underlying asset. The process of wrapping and unwrapping is straightforward: users can convert their BNB into WBNB, and vice versa, through various decentralized protocols or exchange interfaces on the BNB Smart Chain. This flexibility allows users to easily transition between using BNB for gas fees and WBNB for DeFi participation. The availability of WBNB significantly boosts the liquidity and functionality of the BNB Smart Chain, providing users with more opportunities for passive income generation through staking and liquidity provision, as well as access to a wider range of decentralized financial services. Key use cases for WBNB include providing liquidity to automated market maker AMM pools on DEXs like PancakeSwap, acting as collateral for borrowing stablecoins or other cryptocurrencies on lending platforms, and participating in yield farming strategies to earn protocol rewards. By facilitating the integration of BNB into these complex DeFi operations, WBNB plays an indispensable role in strengthening the overall utility and reach of the Binance ecosystem, making BNB a versatile asset for both transactional and investment purposes within the decentralized financial landscape.
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Detailed Analytics

fireTokenomics
Total Supply1,582,848 WBNB
Max Supply0 WBNB
Circulating Supply1,582,848 WBNB
PremineNo records found
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boltBlockchain Info
Mainnet / TestnetNo records found
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miningMining Info
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