WhiteBIT Coin

WhiteBIT Coin (WBT) is a utility asset created by the WhiteBIT exchange. It also acts as the gas currency of the Whitechain blockchain. The token runs on Ethereum and Tron under the ERC-20 and TRC-20 standards, and the maximum supply across all supported chains is 400 million.

Whitechain is compatible with the Ethereum Virtual Machine. Its original Layer 1 uses a single-validator Proof of Authority design operated by WhiteBIT. A Layer 2 based on the OP Stack runs on testnet as Whitechain Sepolia. At mainnet launch, the Layer 1 state is to become the Layer 2 genesis.

On the exchange, WBT is tied to a 12-level tier system that affects maker fees, free daily withdrawals and the number of free AML checks. Holding it is also required for the WhiteBIT Launchpad. The project schedules weekly burns drawn from exchange fees, using 33 percent of trading fees plus a smaller share of other income, until half of the supply is destroyed. The exchange was established in 2018.