WBNB is a DeFi-compatible version of BNB. BNB is the native currency of the BNB chain used for gas fees and security.
Wrapped is a large-cap asset that represents the blockchain's native currency or monetary fee used to execute transactions on the network. This asset depends on a centralized entity for custody services. BNB is "wrapped" to make it compatible with DeFi smart contracts. 1 Wrapped BNB is always equal to 1 BNB. The asset has a fixed supply.
Wrapped BNB is highly correlated to the overall market.
Wrapped BNB has no dependencies.
The BNB token has two main use cases: to pay for gas fees on the network and for staking to secure the blockchain. The BNB Chain requires a small amount of BNB to execute transactions on the blockchain. Validators on the network are required to stake BNB to process network activity and earn transaction fees (paid in BNB).
The total supply of BNB is capped at 200M tokens. The Binance exchange pre-mined the 200M BNB tokens prior to public launch. Founders received 80M BNB (40% of supply) vested over four years; beginning in 2019, these tokens are burnt through quarterly burns and will remain illiquid until fully burnt. Investors received 20M BNB (10%) with no vesting or lock-up restrictions. The public sale distributed 100M BNB (50%) with the funds used for branding and marketing and platform upgrades.
BNB is intended to be a deflationary asset as Binance committed to using 20% of the centralized exchange's quarterly profits to burn BNB. Binance will continue to burn BNB equivalent to 20% of its quarterly profits until the circulating token supply reaches 100M BNB. In addition, a fixed portion of fees paid to execute transactions on the BNB Chain are burned (currently 10% but adjustable via governance), reducing the supply, and increasing the BNB token's scarcity.