#
Wrapped XPT – Symbol : xXPT #
This token is a Wrapped XPT, it derives its pricing from a composite global pricing of Platinum 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 #
- More than 70 US crypto ETFs await SEC decision this year — Bloomberg
- ARK adds staked Solana to two tech ETFs
- Nasdaq-listed Upexi shares up 630% after $100M raise, SOL treasury
- Price analysis 4/21: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK
- Consensys, Solana, and Uniswap CEO donated to Trump's $239M inauguration fund
- Gold Bubble Talk Grows—And Silver May Lead the Way Down
- Bitcoin price tops $88.5K as BTC doubles down on stocks decoupling
- Unlocking the potential of dormant Bitcoin in DeFi
- Bitcoiner PlanB slams ETH: ‘Centralized & premined’ shitcoin
- Bitget’s $12B VOXEL frenzy fizzled fast, but questions remain
- Bitcoin longs cut $106M — Are Bitfinex BTC whales turning bearish above $86K?
- El Salvador works with Nvidia to develop sovereign AI infrastructure
- CZ receives fake ‘Grok’ coins amid new wave of Elon Musk scam tokens
- Gold-backed vs USD-backed stablecoins: Key differences
- Circle, BitGo about to apply for bank charter, others may follow: WSJ
- Michael Saylor’s Strategy bagged 6,556 Bitcoin for $555.8M last week
- Pavel Durov says Telegram would exit markets before betraying users
- Crypto casino revenue hit $81B in 2024 despite global restrictions
- Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes
- XRP price eyes 70% rally ahead of CFTC-regulated futures launch on Coinbase