What is Venus WBNB?
Venus WBNB is a lending market for Wrapped BNB on Venus Protocol. While native BNB is the gas token, WBNB is the BEP-20 wrapped version used throughout DeFi applications. The WBNB market serves users who already hold wrapped tokens from DEX trading, liquidity provision, or other DeFi activities.
How Venus vToken Model Works
The vWBNB market operates using Venus's interest-bearing token system:
- Deposit WBNB and receive vWBNB tokens at the current exchange rate
- The vWBNB/WBNB exchange rate increases as interest accrues from borrowers
- Your vWBNB quantity stays fixed while underlying value grows
- Redeem vWBNB to receive original WBNB plus earned interest
What Assets Are Involved
Supply Asset: WBNB (Wrapped BNB) - BEP-20 wrapped version of native BNB Receipt Token: vWBNB - Venus interest-bearing deposit token Equivalence: 1 WBNB = 1 BNB (unwrappable at any time)WBNB is commonly held from:
- DEX trading on PancakeSwap and other AMMs
- Liquidity provision in AMM pools
- DeFi protocols requiring BEP-20 tokens
- Cross-protocol yield strategies
- Token swaps and aggregator transactions
Why Supply WBNB on Venus?
For users already holding WBNB from DeFi activities, depositing directly to Venus avoids unnecessary unwrap/wrap transactions. The market offers yields comparable to native BNB with the convenience of BEP-20 compatibility. Venus's deep liquidity ensures competitive rate discovery.