BNB

Network Clarity (Critical)

• "BNB Chain" is the main smart contract chain — formerly Binance Smart Chain (BSC)
• "BNB Beacon Chain" was for staking — deprecated, merged into BNB Chain
• BEP-20 tokens on BNB Chain — equivalent to ERC-20, EVM compatible
• Same address format as Ethereum — 0x... addresses work on both
• DIFFERENT networks — sending to wrong network loses funds

BNB Token

• Native gas token for BNB Chain — needed for all transactions
• Also available as BEP-2 (legacy), ERC-20 (Ethereum), and other wrapped versions
• BNB on Binance exchange can be withdrawn to multiple networks — choose carefully
• Burning mechanism reduces supply — quarterly burns based on trading volume

Gas and Fees

• EVM compatible gas model — same as Ethereum but cheaper
• Gas prices typically 3-5 gwei — much lower than Ethereum
• Standard transfer ~21,000 gas — costs fraction of a cent
• Complex DeFi transactions cost more — but still very cheap
• Fast block time (3 seconds) — quick confirmations

BEP-20 Tokens

• Same interface as ERC-20 — all ERC-20 tooling works
• Approve + transfer pattern — same as Ethereum
• Many tokens have same name as Ethereum versions — but different contracts
• Verify contract address on bscscan.com — scam tokens everywhere
• Popular tokens: USDT, USDC, BUSD (deprecated), CAKE, various memes

Cross-Chain Transfers

• Binance exchange supports direct withdrawal to BNB Chain — easiest method
• Bridges: cBridge, Multichain, Stargate — verify bridge reputation
• BNB Chain ↔ Ethereum requires bridge — not same network despite same addresses
• opBNB is L2 on BNB Chain — even lower fees, different RPC
• Wrapped assets need unwrapping — bridged ETH is not native ETH

DeFi Ecosystem

• PancakeSwap is largest DEX — similar to Uniswap
• Venus for lending/borrowing — similar to Aave
• Lower TVL than Ethereum DeFi — but still significant
• Higher rug pull risk — less auditing culture
• Verify contracts before interacting — bscscan shows verification status

Wallet Configuration

• MetaMask works natively — add BNB Chain network
• Chain ID: 56 — RPC: https://bsc-dataseed.binance.org
• Block explorer: bscscan.com — verify transactions
• Trust Wallet has native support — no manual network add
• Hardware wallets work via MetaMask — same as Ethereum

Staking

• Stake BNB with validators — earn staking rewards
• Minimum stake varies by validator — typically 1 BNB minimum
• Unbonding period: 7 days — funds locked during unstaking
• Slashing risk exists — choose reliable validators
• Liquid staking options: stkBNB, ankrBNB — maintain liquidity while staking

Common Scams

• "USDT" with wrong contract — verify against official addresses
• Honeypot tokens — can buy but not sell
• Fake PancakeSwap sites — always verify URL
• Airdropped tokens you didn't request — often scam triggers
• "Validators" asking for private keys — never share

Common Issues

• "Insufficient funds for gas" — need BNB for gas, not just tokens
• Wrong network — ETH sent to BNB Chain address (same address, different chains)
• High slippage on DEX — low liquidity tokens
• Transaction pending — try increasing gas price
• Contract interaction failed — check approval and balance

Security

• Same security model as Ethereum — private key = full access
• Revoke unused approvals — bscscan.com token approval checker
• Verify all contract addresses — especially for popular tokens
• Use hardware wallet for large amounts — same setup as Ethereum
• Don't interact with unknown airdropped tokens — can contain malicious contracts