WhiteBIT Coin wbt
What is WhiteBIT Coin?
WhiteBIT Coin (WBT) is the utility and native coin connecting the WhiteBIT centralized cryptocurrency exchange with Whitechain, the exchange's Ethereum-compatible blockchain. On WhiteBIT, users can keep WBT on their Main balance (Owning) or lock it in Holding for tiered exchange benefits. On Whitechain, WBT is the base coin used to pay network transaction fees. WBT exists across Whitechain, Ethereum (ERC-20), and Tron (TRC-20); transfers from Ethereum/Tron to Whitechain are designed to preserve the overall token allocation through burning on the source network and issuing the equivalent amount on Whitechain.
What problem does WhiteBIT Coin solve?
WBT addresses a practical problem for exchange users: the same token can provide access to lower trading fees and additional account services while also paying transaction fees on Whitechain. It gives WhiteBIT a native asset for coordinating exchange incentives, liquidity, and blockchain activity. This is not a permissionless monetary network like Bitcoin: many important WBT benefits are set by WhiteBIT, and Whitechain uses Proof of Authority with WhiteBIT-authorized validators, so users should treat it as an exchange-linked utility token with meaningful centralization and platform-dependence risks.
How does WhiteBIT Coin work?
WBT is held on a WhiteBIT account or in the exchange's Holding program. Main-balance WBT (Owning) provides balance-based discounts on the standard trading fee; the official WhiteBIT description says maker discounts range from 10% to 100% and taker discounts from 5% to 80%, subject to the applicable fee floors and rules. Locking WBT in Holding adds tiered benefits such as increased referral rewards, maker-fee discounts, free ERC-20/ETH withdrawals and AML checks, SoulDrop rewards, USDT Crypto Lending bonuses, additional deposit addresses, and Launchpad access (at least 200 WBT in Holding according to the cited official article). On Whitechain, WBT pays transaction fees. Whitechain is based on Go-Ethereum concepts but uses Proof of Authority: authorized validators create blocks and validate transactions. Its cross-network issuance process requires proof that WBT was burned on Ethereum or Tron, and is intended to issue only the matching amount on Whitechain.
Key facts
- Ticker: WBT; name: WhiteBIT Coin (initially WhiteBIT Token)
- Maximum issued supply: 400,000,000 WBT; WhiteBIT states no new WBT can be created
- Networks: Whitechain (native/base coin), Ethereum (ERC-20), and Tron (TRC-20)
- Whitechain consensus: Proof of Authority (PoA); WhiteBIT's whitepaper says WhiteBIT-authorized nodes validate blocks
- WhiteBIT was founded in 2018 in Ukraine, according to the Whitechain whitepaper; it operates as a centralized crypto exchange
- Exchange utility: Main-balance WBT can reduce standard maker/taker fees; Holding provides additional tiered privileges
- Holding examples: increased referral rate (up to 50% in the official benefits table), free ERC-20/ETH withdrawals and AML checks, SoulDrop, lending bonuses, multiple deposit addresses, and Launchpad access
- WhiteBIT reports a weekly commission-based burn mechanism and states that 25,000,000 WBT were sent to a burn address
- Token allocation includes private sale, Launchpad, and WhiteBIT funds; the whitepaper describes phased unlocking of treasury/fund coins rather than treating all 400M as circulating
- Whitechain transaction commissions are described in the whitepaper as being collected for redistribution through the SoulDrop mechanism to WBT holders
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Frequently asked questions
What is WBT used for?
WBT is used for WhiteBIT exchange benefits such as trading-fee discounts and Holding privileges, and it is the native fee-paying coin on Whitechain. It can also be held or transferred on Ethereum and Tron representations of the asset.
What is the difference between Owning and Holding WBT?
Owning means keeping WBT on the WhiteBIT Main balance; it qualifies for balance-based trading-fee benefits. Holding means locking a selected amount on WhiteBIT, which adds tiered privileges such as referral boosts, maker-fee discounts, free withdrawals and AML checks, SoulDrop, lending bonuses, extra deposit addresses, and Launchpad eligibility.
Is WBT a governance token?
WBT is primarily documented as WhiteBIT's utility/native coin, not as a general community-governance token. Whitechain's Proof-of-Authority validators and protocol administration are controlled through authorized entities described in the Whitechain whitepaper.
What is Whitechain?
Whitechain is an Ethereum-compatible blockchain created by WhiteBIT. It uses Proof of Authority rather than proof of work or open validator staking; WBT is its native coin and pays transaction fees. WhiteBIT's whitepaper says authorized WhiteBIT nodes validate blocks.
Can the WBT supply increase?
WhiteBIT's help center says the total supply is limited to 400,000,000 WBT and no new coins can be released. Whitechain's cross-network transfer mechanism may issue WBT on Whitechain only after a matching amount is burned on Ethereum or Tron, preserving total allocation rather than increasing it.
What are the main risks of WBT?
WBT depends heavily on WhiteBIT's exchange policies, liquidity, account services, and the operation of Whitechain. Whitechain's PoA design uses authorized validators, and WhiteBIT controls key token mechanisms and can change Holding/Owning rules.
Where can WBT be used?
It can be used inside WhiteBIT for the documented Owning/Holding benefits and on Whitechain to pay transaction fees. It is also represented on Ethereum and Tron, but users must select the correct network and destination address when transferring.
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