BEP-2 is a token standard in the Binance Chain ecosystem. BEP-2 stands for Binance Chain Evolution Proposal 2 and is a technical standard for creating and using new tokens on Binance Chain. It defines a set of rules and technical specifications that tokens should follow to function in the Binance Chain ecosystem. BEP-2 standard tokens are compatible with ERC-20 tokens of the Ethereum blockchain.
BEP-2 defines the basic and most essential features of tokens issued on the Binance Chain. However, different tokens can still have different implementations for the specific use they’re created for. Similar to ERC-20, BEP-2 tokens can represent a wide range of digital assets and tradable goods. The standard ensures that they can all smoothly integrate with the surrounding ecosystem. There are BEP-2 stablecoins like BUSD, BEP-2 pegged Bitcoin BEP-2 and as well as many more multichain projects that are using the benefits of BEP-2.