WhiteBIT Coin (WBT) works as the utility token of the WhiteBIT exchange. You can use it to reduce trading fees and get other benefits on the platform. When you own WBT, you can enjoy discounts on both maker and taker fees, with discounts ranging from 10% to 100%, depending on how much WBT you hold.
If you transfer WBT to Holding, you unlock additional perks like increased referral rewards, free withdrawals of ERC-20 tokens and ETH, and free AML checks. Holding WBT also gives you access to exclusive projects through the WhiteBIT Launchpad, where you can vote for new projects and participate in token sales.
WhiteBIT also has a burning mechanism where a portion of the WBT tokens is regularly burned to maintain its value. This process involves using a part of the trading fees to buy back and destroy WBT tokens.
