WRAP Governance
1. Summary
- Description
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Overview
Overview
The Wrap Protocol is a decentralized bridge that enables the transfer of ERC20 and ERC721 tokens from the Ethereum blockchain to the Tezos blockchain. This protocol allows users to issue wTokens (wrapped tokens) which are representations of the original tokens on the Tezos blockchain. These wTokens can be used in various decentralized finance (DeFi) protocols on Tezos, such as Quipuswap, Atomex, and Kolibri, after being wrapped into FA2 tokens.
Functionality
Once a user initiates a wrap or unwrap transaction through the protocol's dApp, the tokens are released to the user's address after a one-hour delay. Users can track the status of their pending transactions on the Wrap dApp. Additionally, the protocol charges a fee of 0.15% for wrapping and unwrapping transactions.
Token Distribution
$WRAP tokens were initially issued as ERC20 and then wrapped into an FA2 token using the Wrap Protocol. The token distribution model allocates 40% to users, 50% to signers, and 10% to the development pool. The distribution of tokens to users is influenced by the type of token they wrap, with users wrapping UNI, USDC, USDT, WBTC, WETH, and LINK receiving higher token amounts than those wrapping other supported tokens.
Supported Tokens
Initially, the supported ERC20 tokens for wrapping included AAVE, BUSD, CEL, COMP, CRO, DAI, FTT, HT, HUSD, LEO, LINK, MATIC, MKR, OKB, PAX, SUSHI, UNI, USDC, USDT, WBTC, and WETH. This list is subject to changes over time.
Governance
$WRAP token holders have the power to set key parameters for the protocol, ensuring decentralized governance. The protocol relies on the Signer's Quorum for stability, which is a group of entities collaborating to maintain the system's integrity.
| Price | |
| 52W High price | $0.02 |
| 52W High date | 23rd Feb 2023 (2 years ago) |
| All Time High (ATH) Date | 21st Mar 2025 (2 months ago) |
| All Time Low (ATL) Date | 21st Mar 2025 (2 months ago) |
| Supply & Trading Volume |
How does WRAP Governance's () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
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Similar Market Cap
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Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | |
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| Active Reddit Users (past 24h) | |
| Discord users | |
| Active Discord Users | |
| Telegram Users | 631 |
| Twitter followers | 2,432 |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://www.benderlabs.io |
|---|---|
| Explorer | https://tzkt.io/KT1LRboPna9yQY9BrjtQYDS1DVxhKESK4V... |
| @benderlabs_ | |
| Forum | https://github.com/bender-labs |
What is the correct contract address for WRAP Governance?
| Tezos | KT1LRboPna9yQY9BrjtQYDS1DVxhKESK4VVd |
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Has WRAP Governance been audited for security?
No security audits found for this project.
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