WhiteBIT Coin
WBT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WBT (WhiteBIT Coin) serves as the native utility asset for the WhiteBIT centralized exchange and the EVM-compatible Whitechain L1 network. Active development is steady with a maintained multi-language SDK suite, API updates, and ongoing platform integration, though core repositories remain centralized and closed-source. The project benefits from established operational longevity under founder Volodymyr Nosov, an active bug bounty on HackenProof, and multiple historical audits (including a Least Authority protocol audit and Hacken engagements) with no recorded hacks, exploits, or regulatory enforcement actions. However, WBT exhibits substantial structural centralization risks: Whitechain operates via Proof-of-Authority (PoA) consensus under centralized validator control, token governance lacks any DAO or community voting mechanism, and token burns/unlocks are managed at the issuer's sole discretion. In addition, on-chain holder distribution is narrow (~803 to 1.13K on-chain holders), community participation relies heavily on centralized exchange custody and promotional incentives, and significant supply overhang remains from scheduled unlocks. No qualifying red-flag events were identified, yielding an uncapped weighted score of 5.3/10.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About WhiteBIT Coin (WBT)
WhiteBIT Coin (WBT) is the native utility token of the centralized cryptocurrency exchange WhiteBIT and the associated Whitechain network. Founded in 2018 by CEO Volodymyr Nosov, the platform created WBT to serve functional roles across its operations. The token is utilized for trading fee discounts, withdrawal allowances, WhiteBIT Launchpad access, and SoulDrop fee distributions from Whitechain transactions, where it also serves as the native gas asset. In addition to its native blockchain deployment, WBT maintains a smart contract presence on Ethereum.
The tokenomics framework outlines a maximum supply of 400 million WBT, which was reduced to an effective supply of 375 million tokens following a 25 million token burn at its token generation event. The project integrates a weekly buyback-and-burn mechanism funded by exchange revenues to manage circulating supply. On the network level, Whitechain operates on a Proof-of-Authority consensus model and employs manual cross-chain verification processes rather than decentralized validator networks.
WBT exhibits several risk factors associated with centralized control and token distribution. Protocol administration and custody are centralized within WhiteBIT without a decentralized autonomous organization (DAO) or community governance structure. A scheduled unlock of 81.5 million WBT is slated for March 2026, introducing potential supply dilution risks. Furthermore, evaluations highlight discrepancies in reported total supply metrics across third-party sources and unverified audit report details, alongside a reliance on discretionary exchange policies rather than programmatic on-chain mechanisms for token burns. No protocol exploits, hacks, or regulatory enforcement actions have been reported.