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!
Last updated
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!
Last updated
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.
