Wrapped BNB

Halal Rating :
Comfortable
Last Price $698 Last updated:
Rank 10532
1D Change -3.38 %
Market Cap $1.11b
Circulating supply 1,582,885
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Ethereum Ecosystem
  • Solana Ecosystem
  • Wrapped Tokens
  • Polygon Ecosystem
  • IoTeX Ecosystem
  • BNB Chain Ecosystem
  • Moonbeam Ecosystem
  • Osmosis Ecosystem
  • zkSync Era Ecosystem
  • Linea Ecosystem
  • Rehypothecated Crypto
  • Conflux Ecosystem
  • KardiaChain Ecosystem
  • RSK RBTC Ecosystem
  • Telos Ecosystem
  • Hoo Smart Chain Ecosystem
  • Aurora Ecosystem
  • Elastos Ecosystem
  • Milkomeda Ecosystem
  • Wemix Ecosystem
  • opBNB Ecosystem

Purpose and Utility

Wrapped BNB (WBNB) is an ERC-20 token representation of BNB that enables BNB to be used within the BNB Chain's DeFi ecosystem. It maintains a 1:1 peg with BNB through a wrapping mechanism where BNB is locked in a smart contract when WBNB is minted.

Business Model

The primary function of WBNB is to facilitate interoperability between BNB and BEP-20 tokens on the BNB Chain. When users want to interact with DeFi protocols on BNB Chain, they need to convert their BNB to WBNB first. This wrapping mechanism is transparent and verifiable on-chain.

Real-World Adoption

WBNB has significant adoption within the BNB Chain ecosystem, being one of the most widely used tokens for liquidity provision and trading. It serves as a crucial infrastructure component for the BNB Chain's DeFi ecosystem.

Platform Development

The WBNB contract is stable and well-audited. While it doesn't require ongoing development, it continues to serve its core function effectively as part of the BNB Chain infrastructure.

Token Distribution and Vesting

WBNB is created only when BNB is deposited into the wrapping smart contract, making it impossible for founders to pre-mine or allocate tokens to themselves. The supply is entirely determined by user demand for wrapped tokens.

Crypto Impact

To assign a comfort level investing in Wrapped BNB from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Wrapped BNB.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Contribute