binance-wrapped-dot logo download PNG or SVG

Information about binance-wrapped-dot

Binance Wrapped DOT (wDOT) is a wrapped version of the native Polkadot (DOT) cryptocurrency that is issued by the Binance cryptocurrency exchange. Wrapped DOT is an ERC-20 token built on the Ethereum blockchain, hence it can be stored in Ethereum-compatible wallets.

The purpose of wrapping DOT is to enable its usability on the Ethereum network and associated decentralized applications (DApps). By converting DOT to wDOT, users can leverage the advantages and functionalities of the Ethereum ecosystem, such as faster transactions, access to various DeFi protocols, and seamless integration with other Ethereum-based tokens.

The conversion between DOT and wDOT is facilitated by Binance's Wrap protocol, which ensures a 1:1 pegging ratio between the two assets. This means that for every DOT token wrapped, an equivalent amount of wDOT is issued, and vice versa.

Overall, wDOT provides users with more flexibility and liquidity options by enabling the interoperability between the Polkadot and Ethereum networks. It allows Polkadot token holders to access the Ethereum ecosystem without needing to sell or convert their DOT tokens, thereby expanding the utility and reach of the Polkadot network.

For those who want to download the Binance-Wrapped-Dot logo, we have compiled a list of all the major cryptocurrencies in PNG and SVG format. Our collection includes logos for Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, Zcash, and many more. All of them are available in PNG format. And if you want to show support for one of the cryptocurrencies, our collection of logos is at your disposal, including the Binance-Wrapped-Dot logo.