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Binance Wrapped DOT (BWD) is a cryptocurrency created by Binance, the world's largest crypto exchange, to provide users with access to the DeFi (Decentralized Finance) ecosystem. BWD provides users with a bridge between the Binance Chain and Ethereum networks, allowing users to move their DOT tokens between the two networks. BWD was launched in December 2020 and has become one of the most popular DeFi projects on the Ethereum blockchain.
BWD is an ERC-20 token, meaning it is built on the Ethereum network and can be used in any Ethereum-based application. BWD is an ERC-20 version of the native DOT token, which is used on the Binance Chain. By bridging the two networks, BWD provides users with access to the full range of DeFi protocols on the Ethereum blockchain, including decentralized exchanges, lending, and asset management solutions. BWD is one of the most popular tokens in DeFi, with a total market cap of over $3 billion and a daily trading volume of $1.2 billion.