WBNB, or Wrapped BNB, is a cryptocurrency that is pegged to the value of Binance Coin (BNB). Binance Coin is the native cryptocurrency of the Binance exchange, which is one of the largest cryptocurrency exchanges in the world. WBNB is an ERC-20 token, which means that it is built on the Ethereum blockchain. The purpose of WBNB is to allow Binance Coin to be used on decentralized exchanges (DEXs) that are built on the Ethereum blockchain. By wrapping BNB in an ERC-20 token, it becomes compatible with the Ethereum blockchain and can be traded on DEXs that support ERC-20 tokens.

WBNB is an important cryptocurrency because it allows Binance Coin to be used on DEXs, which are becoming increasingly popular in the cryptocurrency space. DEXs are decentralized exchanges that allow users to trade cryptocurrencies without the need for a centralized authority. This means that users can trade cryptocurrencies without having to trust a third party with their funds. By allowing Binance Coin to be used on DEXs, WBNB is helping to increase the liquidity of Binance Coin and making it more accessible to users who prefer to trade on DEXs.