By virtue of being the oldest and largest cryptocurrency on the market, Bitcoin can boast a massive user base and a liquidity pool of several dozen billion dollars. However, its blockchain functionality is relatively basic by modern standards. Unlike Bitcoin, Ethereum was built from the ground up to support more advanced use cases by utilizing the technology of smart contracts, giving rise to an entire industry dubbed “decentralized finance.” Ethereum and products derived from it offer their users such advanced financial instruments as lending and insurance, which do not rely on trusted intermediaries. By “wrapping” BTC in the ERC-20 standard, WBTC enables full integration of a Bitcoin-like asset into this advanced environment of financial decentralized applications, bringing along the immense liquidity associated with the BTC market. In addition, Wrapped Bitcoin makes the job significantly easier for exchanges, wallets and payment services that work with Ethereum: instead of having to run two separate nodes for ETH and BTC networks, they can support WBTC operations with just an Ethereum node. Finally, Ethereum blockchain’s faster average blocktime — about 15 seconds vs 10 minutes respectively — increases the speed with which WBTC can be transacted, compared to actual bitcoins.

The Wrapped Tokens project, of which WBTC is a part, wasn’t founded by individuals but is rather a joint project of three organizations: BitGo, Kyber Network and [Ren](https://coinmarketcap.com/currencies/ren/). BitGo, co-founded in 2013 by American computer scientist and entrepreneur Mike Belshe, is an institutional digital asset custody, trading and financial services firm. In addition to being one of the developers of WBTC, BitGo also serves as its original custodian — the entity that holds WBTC tokens and the keys needed to mint more of them. Kyber Network is an on-blockchain liquidity protocol that enables the integration of different cryptocurrency tokens and DeFi applications. It was founded in 2017 by Loi Luu, Victor Tran and Yaron Velner and is based in Singapore. Along with Ren, Kyber Network has helped create WBTC and still serves as a merchant on its network — the institution that mints and burns WBTC tokens to maintain the 1:1 ratio of tokens to BTC reserves. Similarly to Kyber, Ren is a company focused on cross-blockchain integration of cryptocurrency assets and DeFi applications via solutions such as RenBridge, RenVM and others. It was founded in 2017 by Taiyang Zhang and Loong Wang.

As Wrapped Bitcoin tokens adhere to the ERC-20 token standard, one can use them across the broader Ethereum ecosystem. That includes trading them on decentralized exchanges — like [Uniswap](https://coinmarketcap.com/currencies/uniswap/), [1Inch](https://coinmarketcap.com/currencies/1inch/), [Sushiswap](https://coinmarketcap.com/currencies/sushiswap/) — and exploring decentralized finance opportunities through protocols and platforms supporting WBTC. DeFi opportunities for WBTC range from lending and borrowing to [yield farming](https://coinmarketcap.com/alexandria/glossary/yield-farming), token swapping and [liquidity pools](https://coinmarketcap.com/alexandria/glossary/liquidity-pool). Various protocols and platforms support Wrapped Bitcoin, including [Aave](https://coinmarketcap.com/currencies/aave/), [Balancer](https://coinmarketcap.com/currencies/balancer/), [Compound](https://coinmarketcap.com/currencies/compound/), [MakerDAO](https://coinmarketcap.com/currencies/maker/). Some of these providers may issue platform-native governance tokens as an extra incentive. Using WBTC as colateral for a crypto-backed loan can be a significant option for businesses. Additionally WBTC holders can earn interest from supplying liquidity, although the APY will be relatively low. Another option for WBTC is to engage in margin trading, where Wrapped Bitcoin is used to margin trade [Ethereum](https://coinmarketcap.com/currencies/ethereum/), stablecoins and other ERC-20 tokens. Users deploy WBTC to enhance fund security while trading. That process is fully non-custodial and powered by smart contract technology.

The creation of Wrapped Bitcoin brings the world's leading cryptocurrency [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) into the world of Ethereum's [DeFi](https://coinmarketcap.com/alexandria/glossary/defi) ecosystem. The WBTC token adheres to the [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token standard, with tokens created for those who want to convert BTC into WBTC. All to-be-converted BTC is held by a custodian, who takes part in the actual minting and burning of Ethereum-based tokens. When WBTCs are burned, the user can reclaim their BTC balance from the custodian. During mining, users send BTC to the custodian for storage and receive an equivalent in WBTC tokens. BitGo is the biggest custodian for Wrapped Bitcoin, and they will mine a certain number of WBTC and send them to the merchant's Ethereum address. The user who wants to swap between wBTC and BTC performs a trade — through a centralized exchange or atomic swap on a decentralized exchange — to move funds to the merchant. Once finalized, the user can use their BTC/wBTC as they see fit. If WBTC is converted to BTC, the associated Wrapped Bitcoin balance will be destroyed through a burn transaction. The WBTC [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) consists of governing members who decide on significant upgrades and changes to the protocol. Additionally, these members can serve as merchants or custodians managing BTC assets.

[Wrapped Bitcoin](https://coinmarketcap.com/alexandria/article/what-is-wrapped-bitcoin) is a tokenized version of [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC) that runs on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) (ETH) blockchain. WBTC is compliant with [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance)) applications. WBTC is also backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner. Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019.

If you’d like to buy WTRX at the current rate, you can trade WTRX on [Sunswap V2](https://coinmarketcap.com/exchanges/justswap/).

WTRX is pegged to the price of TRX, which means one WTRX is always worth one TRX. This ensures that there is no arbitrage or price discrepancy between the two tokens. It enables TRX holders to participate in DeFi functionality, such as lending, borrowing, staking, swapping and yield farming. WTRX also allows TRX holders to enjoy the benefits of other blockchains, such as faster transactions, lower fees, higher scalability and more interoperability. This enhances the user experience and expands the possibilities for innovation and collaboration.

To wrap TRX into WTRX, users need to deposit their TRX into a [smart contract](https://coinmarketcap.com/alexandria/glossary/smart-contract) that acts as a [custodian](https://coinmarketcap.com/alexandria/glossary/custodian). The smart contract then mints an equivalent amount of WTRX on the Ethereum network and sends it to the user’s [wallet](https://coinmarketcap.com/alexandria/glossary/wallet). To unwrap WTRX back into TRX, users need to [burn ](https://coinmarketcap.com/alexandria/glossary/burned)their WTRX tokens on the Ethereum network and receive their TRX tokens back from the smart contract on the TRON network. Some of the advantages of using wrapped tokens include: accessing different blockchains without having to deal with multiple wallets or exchanges; reducing transaction fees or waiting times by using faster or cheaper networks; enhancing portfolio diversification by exploring new opportunities or markets; increasing liquidity by unlocking more trading pairs or pools. Some of the disadvantages of using wrapped tokens include: relying on third-party custodians or intermediaries who may be vulnerable to hacks or frauds; losing some functionality or features that are native to the original network; facing regulatory uncertainty or compliance issues due to cross-border transactions.

Wrapped TRON (WTRX) is a [derivative](https://coinmarketcap.com/alexandria/glossary/derivative) of TRON. It is used widely in many decentralized finance ([DeFi](https://coinmarketcap.com/alexandria/glossary/defi)) applications for different use cases, such as [providing liquidity](https://coinmarketcap.com/alexandria/glossary/liquidity-provider), [token swaps](https://coinmarketcap.com/alexandria/glossary/token-swap), [margin trading](https://coinmarketcap.com/alexandria/glossary/margin-trading) and others. WTRX is a wrapped token that represents [TRON (TRX)](https://coinmarketcap.com/currencies/tron/) on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) network. [Wrapped tokens](https://coinmarketcap.com/alexandria/article/what-is-wrapped-ethereum-weth) are tokens that are pegged to another asset at a 1:1 ratio. They allow users to access different blockchains and ecosystems without having to convert their original tokens. For example, if you want to use TRX on Ethereum-based DeFi platforms, you can wrap your TRX into WTRX and use it as an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token. This way, you can enjoy the benefits of both networks without losing exposure to your original asset. Tron’s vision is to bridge the gap between TRON and Ethereum and to enable more liquidity, [interoperability](https://coinmarketcap.com/alexandria/glossary/interoperability) and innovation in the DeFi space. WTRX aims to provide users with a seamless and secure way to access various DeFi protocols and services across different blockchains. The company’s roadmap includes expanding its support for more blockchains and platforms, such as [BNB Chain](https://coinmarketcap.com/currencies/binance-coin/), [Polygon](https://coinmarketcap.com/currencies/polygon/), [Solana](https://coinmarketcap.com/currencies/solana/) and others. It also plans to launch more products and features, such as [lending](https://coinmarketcap.com/alexandria/glossary/peer-to-peer-p2p-lending), borrowing, [yield farming](https://coinmarketcap.com/alexandria/glossary/yield-farming), [governance](https://coinmarketcap.com/alexandria/glossary/governance) and more.

HBAR is a popular digital asset that is available to trade on several prominent exchange platforms, including [Binance](https://coinmarketcap.com/exchanges/binance/), Bittrex and [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/). Some of the more popular HBAR trading pairs include HBAR/USDT, HBAR/BTC and HBAR/ETH, and there are also several fiat trading options for the cryptocurrency, including HBAR/USD, HBAR/KRW and HBAR/INR. For more information about buying cryptocurrencies with fiat, see our [comprehensive guide](https://coinmarketcap.com/how-to-buy-bitcoin/).

Hedera Hashgraph uses a novel consensus system known as Hashgraph consensus to keep its network secure. This uses a rotating governing council consisting of up to 39 highly diversified organizations that span across up to 11 different industries. These are involved with directing the Hedera codebase, voting on platform decisions and operating the initial nodes on the Hedera public network. Hedera uses a novel form of [proof-of-stake](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) (PoS) which allows HBAR users to stake their resources to help protect the network. Right now, all Hedera nodes are managed by either Hedera itself or the governing council members, but there are plans to switch to a permissionless system in the future. \ Overall, Hedera's security setup ensures it achieves "asynchronous” [Byzantine fault tolerance](https://coinmarketcap.com/alexandria/glossary/byzantine-fault-tolerance-bft) (ABFT) — meaning it can guarantee both the timing and order of a set of transactions, even if some data is delayed or lost.

The Hedera Hashgraph token, HBAR, has a maximum total supply of 50 billion units. Out of this, almost seven billion were in circulation as of January 2021 — equivalent to around 14% of the total supply. Hedera publishes regular reports detailing when the next wave of HBAR tokens will be unlocked. These reports can be viewed [here](https://help.hedera.com/hc/en-us/articles/360002789198-When-are-the-next-distributions-of-hbars-scheduled-). According to [Hedera's resources](https://help.hedera.com/hc/en-us/articles/360007177217-How-is-Hedera-management-compensated-#breadcrumb), the two project founders each have a coin grant of two billion HBARs, equivalent to 4% of the total supply each. These tokens are vested over a six-year period. Other senior executives at Hedera (that joined prior to 2018) have coin grants of between 250 million and 300 million coins. These tokens are vested over a period that ends in December 2021. According to Hedera's [Economics Whitepaper](https://hedera.com/blog/new-v3-of-the-hbar-economics-whitepaper) (published June 2020), around 17.03 billion HBAR is estimated to be in circulation by 2025 — equivalent to 34% of the total supply.

Unlike most other cryptocurrency platforms, Hedera Hashgraph isn’t built on top of a conventional [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain). Instead, it introduces a completely novel type of distributed ledger technology known as a Hashgraph. This technology allows it to improve upon many blockchain-based alternatives in several key areas, including speed, cost, and scalability. Hedera transactions have an average transaction fee of just $0.0001 USD and typically reach finality in under five seconds. Overall, Hedera Hashgraph claims it can handle more than 10,000 transactions per second (TPS) — compared to the around 5-20 for most popular proof-of-work (PoW)-based blockchains. The platform offers several major network services. These include: * A token service that allows users to easily configure and mint both fungible and non-fungible tokens ([NFTs](https://coinmarketcap.com/alexandria/glossary/non-fungible-token)) on Hedera with just a few lines of code. * A [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) service that acts as a layer of trust for any application or network that needs a secure, verifiable log of events. * Smart contract tools that let developers build powerful and efficient decentralized applications. * Decentralized file storage services with features include proof-of-deletion, controlled mutability, and time-based file expiry.

Hedera Hashgraph has two founders: Dr. Leemon Baird and Mance Harmon. Dr. Leemon Baird is credited as the investor of the hashgraph distributed consensus algorithm and currently works as Hedera's chief scientist. Prior to founding Hedera Hashgraph, Baird accumulated more than a decade of experience in various computer science and security roles and previously worked as a senior research scientist at the Academy Center by Cyberspace Research. He also holds the position of co-founder and CTO at Swirlds Inc., a platform for building DApps. On the other hand, Mance Harmon is Hedera’s CEO and an experienced technology executive and seasoned entrepreneur. Harmon has around two decades of experience holding executive roles at prominent firms — many of which are in the IT security industry. Like Dr. Leemon Baird, Mance Harmon also holds a second position at Swirlds Inc., as its co-founder and CEO. In addition to the founders, the Hedera leadership team also comprises more than a dozen individuals, many of which have had distinguished careers.

Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications ([DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability. It was funded through an initial coin offering (ICO) in August 2018 and first launched open access to its mainnet just over a year later in September 2019. As part of the ICO, investors were able to purchase the platform’s native utility token (HBAR) at the lowest possible pricing. The HBAR token has a dual role within the Hedera public network. First and foremost, HBAR the fuel that powers Hedera services, such as [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract), file storage and regular transactions. Second, it's used to help secure the network, since HBAR users can [stake](https://coinmarketcap.com/alexandria/glossary/staking) their tokens to assist with maintaining the integrity of the platform. Hedera (HBAR) is the native cryptocurrency of Hedera Hashgraph, a platform that is positioned as an alternative to traditional blockchain technology and aims to excel in speed, efficiency and security. Older blockchains tend to use a consensus mechanism like proof-of-work ([PoW](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)) to validate transactions, while younger blockchains opted for proof-of-stake ([PoS](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)). The Hedera Hashgraph system has a structure that was created from scratch particularly for the project. Hedera is based on a PoS model that is believed to increase the efficiency of transaction verification in the network, provide a high level of security, and protect the network from hacker attacks. Its ecosystem has the underlying hashgraph consensus algorithm and the global enterprise governing body. Hedera Hashgraph is a distributed ledger technology (DLT). According to the project website, Hedera differs from other blockchains because it uses a new consensus algorithm called hashgraph. It intends to process and execute transactions faster, eliminate delays, and smooth out the TPS (transactions per second) indicator. Hashgraph is claimed to be an upgrade in transaction speed, cost, and scalability. Core network services by Hedera: Consensus Service (HCS). With HCS, clients send messages to the network to negotiate consensus timestamping and order. In this case, the state is stored offline, and users can define privacy and access control. Hedera Token Service (HTS). Thanks to HTS, token creation and management are available to customers. It supports built-in tokenization. The goal of Hedera’s hashgraph is to increase the speed of transactions. Moreover, the network is also focused on high-volume operations: micropayments, data integrity and tokenization. Like the EVM, the Hedera network maintains a virtual machine that writes smart contracts in the Solidity programming language. On top of that, Hedera offers a set of built-in [KYC](https://coinmarketcap.com/alexandria/glossary/kyc) and [AML](https://coinmarketcap.com/alexandria/glossary/anti-money-laundering) checks. From a technical point of view, Hedera is a form of distributed ledger technology. It is a hashgraph, or consensus algorithm, where users agree on the order in which transactions should be performed. However, Hedera is not exactly a blockchain. It has its own distinctiveness and works differently. With hashgraph, all transaction branches are merged, no block equivalent is thrown away, and each is used to reach consensus. One of the most noticeable features of the network is the Gossip-about-Gossip protocol. According to Dr. Leemon Baird, Hedera's inventor, within the system nodes randomly transmit data about themselves to other nodes via hashgraph using the Gossip protocol. Soon, all nodes in a cluster become familiar with each other. Then a certain data structure is formed. It consists of a payload of transactions, a timestamp, a digital signature, and hashes to the previous structures. HBAR is Hedera's native token that powers applications on the Hedera network. HBAR is utilized to pay for network services, transaction fees, in-app payments and micropayments. Developers can pay network fees with HBAR tokens, namely: work with [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract), file storage and currency exchange. HBAR is used to incentivize and pay network nodes. Hedera Hashgraph has a decentralized governance system that is set apart. All critical decisions about pricing policy, software updates, and wealth management are made by the Governing Council.

[Changpeng Zhao](https://coinmarketcap.com/alexandria/people/changpeng-zhao) (aka CZ in the crypto community) is the founder and CEO of [Binance](https://coinmarketcap.com/exchanges/binance/), which grew to become the world’s largest crypto exchange by daily traded volume within just 180 days. He is a graduate of McGill University in Montreal with a degree in computer science. As a coder who gained experience building high frequency trading systems, he has been concentrating on blockchain technology since 2013 and has completely immersed himself in the world of cryptocurrencies. CZ is also CEO at BijieTech, which he founded in 2015. Prior to BijieTech, Zhao was the co-founder and CTO of OKCoin, around the same time he launched his own futures platform. He has also worked at Blockchain.info as the head of the technology department. In 2017, he officially launched Binance. What Makes Bitcoin BEP2 (BTCB) Unique? As [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) is not strong when it comes to [DeFi](https://coinmarketcap.com/alexandria/glossary/defi), developers are constantly looking for workarounds and struggle with obstacles that include high fees and a cumbersome process for creating [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract). [Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) is a Bitcoin clone issued on Binance Chain. Its price is always as close as possible to the price of the underlying asset – Bitcoin – and each BTCB is backed by an actual BTC. The pegged BTCB tokens are therefore 100% backed by their own reserve coin, Bitcoin. The advantages of using BTCB include: * Since the release of BTCB, traders on Binance DEX have had the opportunity to trade BTC, even if the BTC is hosted on a completely different blockchain. BTCB therefore provides Binance DEX traders with access to even more trading pairs, resulting in increased trading volumes. * As the range of available assets has grown, so has liquidity, which is an advantage for users of the exchange. * Binance has sealed a strong reputation over the years and has earned the trust of its users, so many users are willing to store their BTC on the platform in order to access BTCB. * On Binance Chain, anyone can check the BTC reserves at any convenient time, which attests to the project’s high degree of transparency. * Exchange representatives claim that while this approach is more centralized than a[tomic swaps](https://coinmarketcap.com/alexandria/article/what-are-atomic-swaps), it is easier to understand and master for most traders. * If developers wish to transfer their assets to Binance Chain, the platform actively promotes this and streamlines the process.

[Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) (BTCB) is a token on the Binance Chain. Each BTCB is 100% backed by a BTC reserve, with the price pegged to [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) at a rate of 1 BTCB = 1 BTC. The [reserve address](https://btc.com/btc/address/3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb) for verification is publicly available to anyone at any time. The Binance cryptocurrency exchange has published the reserve address to demonstrate the transparency of the Bitcoin BEP2 project, as well as to pique the interest of third parties who can freely check the contents of the Bitcoin pool and compare the data with the number of BTCB tokens issued. The project forms part of Binance’s endeavor to provide affordable trading opportunities for users of its decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)) – one of the main services supported by Binance Chain. Since its launch on April 18, 2019, Binance Chain has been able to achieve good results regarding decentralization and interoperability in a quite short time. Binance Chain Evolution Proposal 2 (BEP2) was launched in June 2019, outlining a set of technical features, rules and management criteria that tokens must meet in order to function properly in the Binance Chain ecosystem.

WBETH is a liquid staking token, where 1 WBETH represents 1 ETH and the total staking rewards accrued by the ETH token on ETH Staking. WBETH will allow users to obtain immediate liquidity and participate in DeFi projects, while ensuring their eligibility to receive the corresponding ETH Staking rewards accrued. On-chain users can stake their ETH to obtain WBETH by interacting with the official smart contract provided by Binance. Binance users can wrap their BETH tokens to WBETH, and unwrap their WBETH to BETH tokens on the Binance ETH Staking page at zero fees.

Rocket Pool is a next generation decentralised staking pool protocol for Ethereum. Rocket Pool ETH (rETH) is the Rocket Pool protocol's liquid staking token. The rETH token represents an amount of ETH that is being staked and earning rewards within Ethereum Proof-of-Stake. As Rocket Pool node operators, stake Ethereum on Proof-of-Stake the resulting rewards increase the value of rETH relative to ETH. Rocket Pool's liquid staking token allows holders to benefit from the returns of the Ethereum Proof-of-Stake. More information on Rocket Pool and rETH can be found at https://rocketpool.net.

Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated savings instrument - the 'Internet Bond'. Ethena's synthetic dollar, USDe, will provide the first censorship resistant, scalable and stable crypto-native solution for money achieved by delta-hedging staked Ethereum collateral. USDe will be fully backed transparently onchain and free to compose throughout DeFi. USDe peg stability is ensured through the use of delta hedging derivatives positions against protocol-held collateral alongside a mint and redeem arbitrage mechanism. The 'Internet Bond' will combine yield derived from staked Ethereum as well as the funding & basis spread from perpetual and futures' markets, to create the first onchain crypto-native 'bond' that can function as a dollar-denominated savings instrument for users in permitted jurisdictions.

Zeebu is World's first loyalty token created for Telecom Carrier Businesses. Zeebu utility token is an ERC 20 token designed to incentivize and reward Telecom Carriers participating in the Zeebu Ecosystem. Zeebu is a powerful and redeemable loyalty token that raises telecom carriers' bottom line by rewarding loyalty benefits and significantly lowering invoice costs. The core value proposition of the Zeebu token is to offer a loyalty and rewards system tailored to the Telecom Carrier market.

Venus BNB (vBNB) is a cryptocurrency and operates on the BNB Smart Chain (BEP20) platform. Venus BNB has a current supply of 84,327,095. The last known price of Venus BNB is 9.24651488 USD and is up 2.15 over the last 24 hours. It is currently trading on 6 active market(s) with $460,428,828.74 traded over the last 24 hours. More information can be found at https://app.venus.io/dashboard.

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)](https://coinmarketcap.com/exchanges/pancakeswap-v2/), [Jupiter](https://coinmarketcap.com/exchanges/jupiter/), [DODO (BSC)](https://coinmarketcap.com/exchanges/dodo-bsc/), [Biswap](https://coinmarketcap.com/exchanges/biswap/) and [Swappi](https://coinmarketcap.com/exchanges/swappi/). Want to keep track of WBNB price in real-time? Download the [CMC mobile app](https://coinmarketcap.com/mobile/) to get the live price of WBNB, BTC and other cryptocurrencies.

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](https://coinmarketcap.com/alexandria/glossary/tendermint).

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](https://coinmarketcap.com/alexandria/glossary/minting) 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.

Users can [swap](https://coinmarketcap.com/alexandria/glossary/token-swap) their BNB for WBNB using a [bridge](https://coinmarketcap.com/alexandria/glossary/bridges). 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](https://coinmarketcap.com/alexandria/glossary/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](https://coinmarketcap.com/alexandria/glossary/erc-20) tokens on [Uniswap](https://coinmarketcap.com/currencies/uniswap/) or [PancakeSwap](https://coinmarketcap.com/currencies/pancakeswap/), or use WBNB as collateral to borrow stablecoins on [Aave](https://coinmarketcap.com/currencies/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](https://coinmarketcap.com/alexandria/glossary/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.

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.

[Wrapped BNB (WBNB)](https://coinmarketcap.com/currencies/wbnb/) is a blockchain token [pegged](https://coinmarketcap.com/alexandria/glossary/peg) to the value of [Binance Coin (BNB)](https://coinmarketcap.com/currencies/bnb/), the native token of the Binance cryptocurrency exchange. WBNB conforms to the [BEP-20](https://coinmarketcap.com/alexandria/glossary/bep-20) standard on the BNB Smart Chain (BSC), a [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) network that supports [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) and decentralized applications ([DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)). Similar to [wrapped ETH](https://coinmarketcap.com/alexandria/article/what-is-wrapped-ethereum-weth) (WETH) and [wrapped Bitcoin](https://coinmarketcap.com/alexandria/article/what-is-wrapped-bitcoin) (WBTC), WBNB allows users to use BNB to participate in [DeFi](https://coinmarketcap.com/alexandria/glossary/defi), such as providing liquidity in [liquidity pools](https://coinmarketcap.com/alexandria/glossary/liquidity-pool), [yield farming](https://coinmarketcap.com/alexandria/glossary/yield-farming) and trading on [decentralized exchanges](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) (DEXs). The vision of WBNB is to enhance the [interoperability](https://coinmarketcap.com/alexandria/glossary/interoperability) and scalability of the BNB Chain. It bridges the gap between the Binance ecosystem and other blockchain ecosystems like [Ethereum](https://coinmarketcap.com/currencies/ethereum/), [Polygon](https://coinmarketcap.com/currencies/polygon/), [Solana](https://coinmarketcap.com/currencies/solana/), [Avalanche](https://coinmarketcap.com/currencies/avalanche/) and more. This increases the utility and demand of both BNB and WBNB and allows WBNB to function as [collateral](https://coinmarketcap.com/alexandria/glossary/collateral) across different ecosystems.

Marinade.finance is the first Liquid staking protocol built on Solana, and is supported by the Solana Foundation. The users stake their SOL tokens with Marinade-, which is using automatic staking strategies to delegate the SOL to validators, -and the user receive "staked SOL" tokens called mSOL that they can use in the world of DeFi or to swap any time back to original SOL tokens to unstake.

Cheelee's mindful economy, which has given the project's token rate more resistance to volatility, is one of its key advantages. As was said above, the project has a variety of income options to provide stability. CHEEL's rate is protected from sharp downtrends by putting a two-year freeze on investment capital and team tokens. This indicates that during the crucial phase of the project's expansion, these tokens won't be available for trading. The majority of the company's revenue (70% of the advertising revenue, in-app purchases, transaction fees, and 100% of NFT sales) goes to the Stability Fund. This fund is a kind of wall protecting Cheelee tokens' rates from market fluctuations. Cheelee also uses the following mechanisms of influence for the stable growth of its assets. * BuyBack — stimulating demand and reducing the circulating supply of tokens by redeeming tokens from the market with funds from the Stability Fund. * Make supply — ensuring supply that covers demand, which is formed through liquidity allocation, further circulation and reuse of tokens. * Token burning — utilizing part of the redeemed CHEEL and LEE tokens to reduce the circulating supply and adjust prices. The project is protected from farms and bots. Thanks to deep behavioral metrics, Cheelee blocks them, protecting the system from fraud and the liquidity drain.