What are B-Tokens(Binance Bridge pegged tokens)?
Binance’s B-Tokens (Binance Bridge pegged tokens) are assets locked to the Native Chain by Binance and issued on the BNB Smart Chain as a wrapped form of BEP20 assets. Binance’s B-Tokens are pegged 1:1 with assets on the native chain, so they can be used freely in the DeFi ecosystem to generate profits. Below is a link to the asset lock-up & issuance proof.
B-Tokens are instantly processed on the BNB smart chain, enabling fast withdrawals and deposits. BNB smart chain also offers low transaction fees for users, allowing them to process transactions quickly and at a lower cost.
KLAYswap offers various B-Token liquidity pools, including SOL, BTC, ETH, USDT, etc. You can easily deposit other blockchain assets on KLAYswap using Binance’s B-Token and manage My Portfolio as well. Discover the newest content on KLAYswap.
Deposit B-Token to KLAYswap
B-Tokens(Binance Bridge pegged tokens) can be used for deposit on KLAYswap.
Here is how to withdraw assets from Binance Exchange to my personal wallet (BNB Smart Chain) and use them on KLAYswap.
If you hold assets on Binance exchange, you can withdraw them directly to your personal wallet that supports BNB Smart Chain. Withdraw must be made to a wallet address that supports BNB Smart Chain, such as Metamask, and the withdraw network must be set as BNB Smart Chain.
※ USDT (TetherUS) was used as an example for this guide.
● Deposit Order Summary
Binance Exchange ▶ Wallet (BNB Smart Chain) ▶ Bridge ▶ Wallet (Klaytn)
① Binance Exchange > Transfer USDT(BNB Smart Chain, BEP20) to my wallet
② Swap USDT(BNB Smart Chain, BEP20) > USDT(Klaytn) on Orbit Bridge
- Click on the ‘Wallet’ tab, then on the ‘Spot’ tab, press the ‘Withdraw’ button. Select USDT and then click [Send via Crypto Network].
2. Enter the wallet address you wish to receive USDT. Choose BNB Smart Chain (BEP20) as the network. Enter the amount to withdraw and click [Withdraw]. To complete the verification process, click the [Confirm] button after checking the transmission-related details (address, network, asset name, quantity, fee).
3. Verify your wallet’s network setting is ‘BNB Smart Chain’ mainnet, then check the USDT-B balance in your wallet from Binance Exchange.
＊Check USDT-B on BscScan : https://bscscan.com/token/0x55d398326f99059ff775485246999027b3197955
4. Open Orbit Bridge (https://bridge.orbitchain.io/) and select ‘USDT-B’ as the token to convert. Choose the ‘BNB’ for From network and the ‘Klaytn’ for To network. Enter the quantity to convert and your wallet address, then click [Start Conversion].
5. Check that the network setting in my wallet is ‘Klaytn Mainnet Cypress’, then confirm the converted oUSDT-B.
● Withdrawl Order Summary
KLAYswap (Klaytn) ▶ Wallet/Exchange that supports BEP20 assets (BNB Smart Chain)
Here is how to directly withdraw B-Token(Binance Bridge pegged token) from KLAYswap to BNB Smart Chain. The withdraw network must be set as BNB Smart Chain, and the asset has to be withdrawn to a wallet or an exchange that supports the network.
※ USDT (TetherUS) was used as an example for this guide.
1. Search oUSDT-B in the “My Asset” tab, and then select [Withdraw].
2. Enter the amount to withdraw and select BNB Smart Chain(BEP20) as the withdraw network.
3. Enter the Binance Exchange deposit address to send the asset. Here is how you can find your Binance exchange deposit address.
Click the ‘Wallet’ tab at the bottom of the Binance exchange page, then click the [Deposit] button under the ‘Spot’ tab. After selecting ‘USDT’, select the network as [BNB Smart Chain (BEP20)]. Once you have copied the deposit address, paste it into the KLAYswap withdrawal pop-up.
4. Confirm and agree to the withdrawal instructions by clicking [Next Step]. After completing the transaction, confirm the USDT-B deposited to the address.
[KLAYswap]
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