Table of Contents
- Wrapped XAU - Symbol : xXAU
- This token is a Wrapped XAU, it derives its pricing from a composite global pricing of Spot AU in USD in real time. It represents the physical asset and all transactions occur on-chain on Pecu Novus. They are primarily used for staking protocols and volume will typically be thin.
- What is a Wrapped Token?
- A wrapped token is a digital asset that represents another cryptocurrency on a different blockchain or a physical asset. For example, a wrapped Bitcoin (xBTC) is a token that represents one Bitcoin on the Pecu Novus blockchain. Wrapped tokens are created by locking up the underlying asset in a smart contract on the original blockchain and then issuing a corresponding number of tokens on the new blockchain.
- Wrapped tokens are useful because they allow users to interact with different blockchains and ecosystems. For example, xBTC allows users to trade Bitcoin on decentralized exchanges (DEXes) on the Pecu Novus blockchain such as HootDex, which would not be possible otherwise.
- Wrapped tokens are also useful for staking protocols. For example, users can lend their xBTC on a DeFi platform on the Pecu Novus blockchain to earn fee's or interest, or if available they can borrow xBTC to use in other DeFi applications on the Pecu Novus blockchain.
- Here are some of the benefits of using wrapped tokens:
- Interoperability: Wrapped tokens allow users to interact with different blockchains and ecosystems. This can be useful for trading, lending, borrowing, and other DeFi applications.
- Efficiency: Wrapped tokens can be more efficient to use than native tokens on some blockchains. For example, xBTC transactions are processed faster and cheaper than Bitcoin transactions on the Bitcoin blockchain.
- Security: Wrapped tokens are typically backed by the underlying asset in a smart contract. This makes them more secure than some other types of digital assets.
- VIEW ALL TOKENS
- LATEST CRYPTO & FINANCIAL NEWS
#
Wrapped XAU – Symbol : xXAU #
This token is a Wrapped XAU, it derives its pricing from a composite global pricing of Spot AU in USD in real time. It represents the physical asset and all transactions occur on-chain on Pecu Novus. They are primarily used for staking protocols and volume will typically be thin. #
What is a Wrapped Token? #
A wrapped token is a digital asset that represents another cryptocurrency on a different blockchain or a physical asset. For example, a wrapped Bitcoin (xBTC) is a token that represents one Bitcoin on the Pecu Novus blockchain. Wrapped tokens are created by locking up the underlying asset in a smart contract on the original blockchain and then issuing a corresponding number of tokens on the new blockchain. #
Wrapped tokens are useful because they allow users to interact with different blockchains and ecosystems. For example, xBTC allows users to trade Bitcoin on decentralized exchanges (DEXes) on the Pecu Novus blockchain such as HootDex, which would not be possible otherwise. #
Wrapped tokens are also useful for staking protocols. For example, users can lend their xBTC on a DeFi platform on the Pecu Novus blockchain to earn fee’s or interest, or if available they can borrow xBTC to use in other DeFi applications on the Pecu Novus blockchain. #
Here are some of the benefits of using wrapped tokens: #
-
Interoperability: Wrapped tokens allow users to interact with different blockchains and ecosystems. This can be useful for trading, lending, borrowing, and other DeFi applications. #
-
Efficiency: Wrapped tokens can be more efficient to use than native tokens on some blockchains. For example, xBTC transactions are processed faster and cheaper than Bitcoin transactions on the Bitcoin blockchain. #
-
Security: Wrapped tokens are typically backed by the underlying asset in a smart contract. This makes them more secure than some other types of digital assets. #
VIEW ALL TOKENS #
LATEST CRYPTO & FINANCIAL NEWS #
- OKX launches EU stablecoin payment card via regulated issuer Monavate
- Crypto launderers are turning away from centralized exchanges: Chainalysis
- A Fed move to backstop Japan bonds could boost Bitcoin: Arthur Hayes
- UK bans Coinbase ads that ‘trivialized’ crypto risks: Report
- Coinbase moves closer toward rolling out ‘custom stablecoins’
- Silver, gold hype overtaking crypto on social media: Santiment
- Trustless AI agent standard could hit Ethereum mainnet on Thursday
- Steak ‘n Shake adds $5M in Bitcoin to reserve as in-store sales grow 18%
- Nearly 40% of US merchants now accept crypto at checkout: PayPal
- Rodeo becomes 2nd NFT platform to announce closure this week
- $10.8B in Bitcoin options expire this week: Will bulls chase $95K after expiry?
- Crypto needs to become ‘indispensable’ if legislation fails: Bitwise
- Morgan Stanley appoints new head of digital asset strategy
- US Marshals confirm probe into $40M theft claims involving seized crypto
- AI data centers hit same local resistance that slowed Bitcoin mining
- CFTC Staff Issues No-Action Letter, Announces Implementation Updates to 2024 Large Trader Reporting Rule
- Public companies quietly grow Bitcoin holdings as prices stay flat
- Bitcoin’s real ‘Uptober’ moment might start in February: Here’s why
- South Dakota lawmaker takes another run at Bitcoin reserve bill
- Nomura-backed Laser Digital seeks US bank charter amid crypto banking push: Report
