“It turns out that it’s currently easier to borrow and lend with WBTC than BTC since users can interact with DeFi lending protocols like Compound, Aave, and Maker to lend their WBTC and borrow USDC, dai, or other assets against it,” Joe Keefer, a trader at Grapefruit Trading, one of the biggest WBTC merchants, told CoinDesk on Telegram. “There are also many opportunities to use … [Read more...] about Wrapped Bitcoin’s Supply Has More Than Doubled, but the BadgerDAO Hack Exposed Risks of Moving Bitcoin to Ethereum
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What Is WETH? Wrapped ETH Explained
Most of us know what Ethereum (ETH) is and how it works, but do you know what wETH is? With the expansion of different DeFi protocols around the world, we have seen the expansion of synthetic tokens such as wBTC and wETH, but what are these tokens all about? In this guide, we will share with you all the details about synthetic tokens and wETH. This is one of the most popular … [Read more...] about What Is WETH? Wrapped ETH Explained
‘Wrapped’ XRP is coming to the Ethereum (ETH) blockchain
If everything goes as planned, we can expect to see Wrapped XRP (wXRP) on Ethereum blockchain before the end of the year, according to an announcement made by Wrapped.com, a cross-chain wrapped assets service provider.XRP to be on Ethereum blockchain by DecemberThe announcement revealed that the Wrapped XRP (wXRP) would be backed 1:1 by XRP and Hex Trust would be providing … [Read more...] about ‘Wrapped’ XRP is coming to the Ethereum (ETH) blockchain
XRP Gets Wrapped by Tokensoft for Ethereum DeFi Debut
Is the XRP Army ready to storm Ethereum?Announced Friday, Wrapped XRP (wXRP), a digital asset backed 1:1 by XRP, will make the cross-chain jump into Ethereum-based decentralized finance (DeFi) starting in December, courtesy of Wrapped and Hong Kong-based crypto custodian Hex Trust.The new connectivity for XRP holders will allow access to various DeFi applications, whether … [Read more...] about XRP Gets Wrapped by Tokensoft for Ethereum DeFi Debut
Cosmos (ATOM) rallies after launching a cross-chain bridge and wrapped Bitcoin
Momentum for the top layer-one protocols has been on the rise throughout August as the highly anticipated rollout of the London hard fork on the Ethereum (ETH) network has done little to address the network's high transaction fees and delayed confirmations. One of the biggest beneficiaries of the quest to find a more welcoming smart contract environment has been Cosmos (ATOM), … [Read more...] about Cosmos (ATOM) rallies after launching a cross-chain bridge and wrapped Bitcoin