Wrapped BNB a wrapped version of the BNB native tokens on the BEP-20 standard on the Binance Smart Chain and other EVM-compatible chains. Not to be confused with BNB Native Token on the BSC Chain.
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WBNB is a "wrapped" version of BNB that follows the BEP-20 token standard. While native BNB is used as the primary fuel for the network, WBNB acts as a compatible version that allows the asset to be used within smart contracts and decentralized finance (DeFi) protocols on the BNB Smart Chain.
Native BNB does not inherently conform to the BEP-20 standard required for interaction with complex smart contracts. To use your assets in decentralized exchanges, lending platforms, or yield farming, you must first convert BNB into WBNB to ensure technical compatibility with these protocols.
BNB is the native currency of the BNB Chain, primarily used to pay for transaction gas fees. WBNB is a tokenized version of BNB that adheres to the BEP-20 standard. This standardization allows WBNB to be utilized in liquidity pools and other dApp features where native BNB cannot technically function.
Wrapping involves sending native BNB to a smart contract that locks the asset and mints an equivalent amount of WBNB to your wallet. Unwrapping is the reverse: you send WBNB to the contract, which burns it and releases the original native BNB. This process can be handled through LBank or various decentralized interfaces.
Yes, WBNB is designed to maintain a 1:1 peg with native BNB. Since the smart contract allows users to unwrap 1 WBNB for 1 BNB at any time, the value remains consistent. While minor discrepancies may occur due to liquidity on different platforms, arbitrage typically keeps the value synchronized.