Wrapping Process

wpUSDT is not an independent stablecoin; rather, it is a wrapped token, fully backed by USDT. This means for every 1 USDT you deposit, you receive 1 wpUSDT in return, ensuring a 1:1 value!

Wrapping Process

  • Deposit: Users deposit USDT into a designated smart contract on the Ethereum blockchain, which is then locked. Paying 0.3% wrapping fee.

  • Issuance: An equivalent wrapped amount of wpUSDT is issued on the wpUSDT blockchain, maintaining a 1:1 value ratio.

  • Transaction: Users engage in transactions with wpUSDT, enjoying the benefits of enhanced privacy and data fees.

  • Unwrapping: Users burn wpUSDT to unlock and retrieve USDT on the Ethereum blockchain. Paying 0.3% wrapping fee.

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